The Singapore Vehicle Rental Association said the government can consider lifting the restricted hours currently placed on the private car rental scheme.
This comes as the Land Transport Authority (LTA) announced at the recent Committee of Supply, that it is studying the liberalisation of this scheme.
The Private Car Rental Scheme was introduced in 1996 to allow non-car owners to have access to private transport on weekends and public holidays.
Under this scheme, private car owners are allowed to rent out their cars from Friday, 7pm, to the following Monday, 7am; and from 7pm on the eve of the public holiday to 7am on the 1st working day following the public holiday.
Interested parties can rent out their cars through advertisements in the newspapers or other forms of media.
Currently, chauffeur-driven rentals are not allowed.
The Association said the scheme could be expanded to include rental on week days as well.
And as private car owners do not have to register with the LTA when using the scheme, the Association also feels there must be some form of control as this could affect taxi operators and car rental companies.
Honorary secretary of the Singapore Vehicle Rental Association Joseph Poh said: "One of the way is to allow them to go to car rental companies to transact all this rental transactions. If not properly controlled, these cars could be used for limousine services and ferrying. If that is the case, it'd interfere with taxi operations."
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Well, good news for car owners looking to supplement their car loan with some rental income, just like how people do it to housing, but on a temporary basis. It is a good idea to rent one's car out for added income, until conflict arises with insurance issues. Currently, a rented car will need to have an additional form of insurance during the rental period. Failure to do so means breaking the law, thus do not try doing it or you'll risk fines.
As a private car owner, would you bear to rent out your own car? You never know how the car will get abused when not in your care.
Car rental firms in Singapore are charging more this Chinese New Year, but their customers are still rushing to book cars for use during the festive period.
A check by The Straits Times showed that rates have gone up by about 10 per cent.
Despite this, 10 out of the 15 companies contacted said their vehicles were fully booked weeks in advance.
Rental firms and their customers said the convenience still beats cost.
"Renting a car is more convenient than taking public transport as I have to carry bulky items," said Mrs Liao Gek Leong, 58, a finance executive who sold her car last year. "Cabs are also not always available, especially during the peak holiday period."
Demand could also have gone up due to increased certificate of entitlement premiums and high car prices, added Mr Ho Kok Kee, manager at Popular Rent A Car.
A spokesman for A Car Rental said on average, it is charging between $50 and $100 more this year. At Absolut Motor, a seven- day Chinese New Year package for a 1.5 litre car costs $888, versus $788 last year.
Some customers, who wanted to beat the rush for rental cars, placed their reservations two to six months in advance.
"We have been fully booked since three months ago. Customers made bookings as early as June last year," said Mr Jeremy Chong, manager for Eazi Car Leasing & Marketing.
Despite the higher cost, rental cars could make sense for those with a hectic festive visiting schedule.
Senior executive Catherine Yip, 46, said she has many relatives to visit and driving a rental car would let her manage her time better.
"When you add up (the cost of cab rides), it is around the same price as the rate for a rental car," said a spokesman for Dream Car Rental.
Dealers said their cars are most sought after between tomorrow and Feb 15. At Popular Rent A Car, the most popular model is the Toyota Corolla Altis. In-demand cars at other agencies include the Hyundai Avante, Honda Civic and Toyota Allion.
Rented vehicles are also popular for those heading across the Causeway.
"Most of our customers are permanent residents or Singaporeans who go to Malaysia to see their families. After all, Chinese New Year is only once a year," said Ms Marie Chew, managing director of ATS Rent-A-Car.
The company charges between $1,200 and $1,300 to rent a car that can be driven into Malaysia.
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The rise in cost will not deter people who need the car during the CNY period. It's only once per year and we all know what a chore it is to get a cab. Renting a car will be the most viable option to attain the convenience of visiting during CNY.
