Why Leasing a BYD Atto 3 is More Cost-Effective Than Buying

Introduction 

Car leasing in Singapore has become a popular and practical alternative to traditional car ownership. Apart from lower upfront costs, including a minimal upfront payment and affordable monthly instalments, a car lease offers multiple benefits for budget-conscious drivers in Singapore. Moreover, it allows you to drive the latest vehicles without a long-term commitment. 

As Singapore increasingly embraces environmentally friendly transport solutions, the BYD Atto 3 has quickly become a favourite for its blend of advanced technology and sustainability. In this article, we’ll take a closer look at what makes this electric vehicle (EV) so special and explain why leasing it can be a smarter financial choice than purchasing it directly.

An Overview of BYD Atto 3

Specifications and Functions of the BYD Atto 3

The BYD Atto 3 is a compact sport utility vehicle (SUV) that stands out for its advanced technology and sleek design. As one of the top models from BYD, it has become an appealing option for those considering making the switch to EVs. Discover BYD Atto 3 specifications and how they make the model an ideal greener car lease option in Singapore. 

1. Range

The BYD Atto 3 comes with a range of 565 km (as measured by the WLTP City cycle). Suitable for both urban commuting and longer road trips, the extensive range alleviates the constant worry of needing to recharge. 

2. Charging Time

Another notable feature of the BYD Atto 3 is its quick charging time. With a DC fast charger, you can recharge the battery from 30% to 80% in just about 30 minutes! The rapid charging capability is particularly beneficial for those always on the go, saving you from all the hassle during your busy day. In addition, with its compatibility across a wide range of charging infrastructure nationwide, you can always find and use a charging point as needed.

• Types of EV Charger Stations in Singapore

To provide you with a clearer picture of the EV charging infrastructure in Singapore, this section will outline the various categories and their mechanisms. Charging stations in Singapore can be divided into two main types:

(i) Mennekes (Type 2) Charger

This type of charger uses alternating current (AC) and is widely available at local charging stations. It provides flexibility for EV drivers who may not need rapid charging.

(ii) Combined Charging System 2 (CCS2)

Also known as a DC charger, the CCS2 charger provides a faster charging time. This works best for those who need a quicker recharge.

As the popularity of EVs continues to grow in Singapore, drivers have the advantage of choosing between private and public charging options to suit their needs. Continue reading for further insights:

• Difference Between Private and Public Charging

(i) Private Charging

Private chargers typically offer AC (7kW) charging, which takes about 4-8 hours to fully charge your EV, depending on the battery size. They refer to charging at off-street parking or private premises, such as condominiums or landed properties. Best suited for daily use, private charging enables you to conveniently recharge your vehicle in the comfort of your own home.

(ii) Public Charging

Managed by licensed operators in Singapore, public EV charging stations are available in both AC (up to 22kW) and DC fast charging (up to 50kW). They are found in various locations, including public car parks, shopping malls, and office complexes. 

3. Cost per Charge

When it comes to the cost of charging, powering the BYD Atto 3 from 30% to 80% with a DC fast charger costs about SGD 15. This is more cost-effective than traditional fuel prices.

However, it is important to note that the pricing mentioned may not reflect the most current charges. The information has been sourced from the List of EV Charger Stations in Singapore as of 2023. For the latest and most accurate pricing details, we recommend visiting the websites of the respective charging station providers.

Technical Specifications

Before exploring the advantages of leasing the BYD Atto 3, it’s important to familiarise yourself with the vehicle’s technical specifications. Understanding these details will give you a better sense of why the model is such a popular car lease pick among Singapore’s EV enthusiasts. 

1. Battery Capacity 

The 2024 BYD Atto 3 has an extended range and a battery capacity of 60.5kWh, which allows the car to run up to 565km on a full charge.

The following models come with respective power outputs:

• Original: 150 kW, equivalent to 201 horsepower
• Extended Range: 100 kW, equivalent to 134 horsepower

2. Motor Power and Performance Metrics

Thanks to its robust electric motor, the BYD Atto 3 can accelerate from 0 to 100 km/h in just 10 seconds. This quick acceleration proves practical for merging into busy traffic or making quick getaways when necessary.

3. Charging Options 

• Level 1 & 2 Charging (Slow Charging)

Level 1 and 2 charging involves using a standard power socket or a mounted charger, typically found at home, workplaces, or shopping centres. The BYD Atto 3 features an onboard charger that supports single-phase charging at 32 amps, enabling a maximum power intake of 7 kW AC. 

When using a portable charger with a standard 10A power source, the Atto 3 gains approximately 20 km of range per hour, requiring around 28 hours for a full charge. However, by upgrading to a 32A power source, the range added per hour can increase to 61 km, reducing the total charge time to less than 9 hours.

• Level 3 DC Charging (Fast Charging)

For rapid charging, the BYD Atto 3 Extended Range is compatible with DC charging at a maximum power of 88 kW. Chargers with higher outputs will be throttled to this 88 kW limit.

4. Interior and Comfort

Inside the BYD Atto 3, comfort and modern technology blend seamlessly. The spacious cabin seats five passengers, featuring ample legroom and cargo space for all your belongings. 

Another key specification is the state-of-the-art infotainment system that features a large touchscreen. You may leverage it for navigation and smartphone connectivity to keep yourself entertained and informed on the road. Additional comforts include:

• Climate control for a pleasant driving experience
• Adjustable seats to accommodate various preferences
• A premium sound system for an enjoyable audio experience

Source: Cartrade

5. Safety Features

Safety is a top priority in the BYD Atto 3. Equipped with 7 SRS airbags, the EV also comes with ISOFIX at the rear seats. This provides a secure anchor point for child seats. Plus, there is an automatic emergency braking system that works in conjunction with a front and rear collision warning system. With a comprehensive range of safety features, the vehicle enhances driver awareness and helps to prevent accidents.

Customer Testimonials

Leasing the BYD Atto 3 electric vehicle offers significant benefits for Singaporean drivers, earning enthusiastic praise from numerous satisfied customers. The following features and advantages showcase why:

Customers have particularly praised the 360-degree camera that enhances parking and manoeuvring, making tight spots much easier to navigate. The 150 kW motor has earned high praise for the quiet drive and rapid acceleration of the Atto 3. It allows the BYD Atto 3 to zip from 0 to 100 km/h in a mere 9.7 seconds, guaranteeing smooth handling and responsiveness on the road. 

The spacious interior design is another highlight, with some customers noting the unique “gym” concept as a refreshing touch that adds character to the vehicle. Lastly, the extensive boot space of the Atto 3 has made it practical for daily use. 

Leasing a Car in Singapore

Requirements of Car Leasing in Singapore

Opting for a car lease in Singapore can be a straightforward and convenient way to enjoy the benefits of a vehicle without being tied to a long-term commitment. However, potential lessees need to meet certain requirements before they can hit the road. Let’s take a look at the key criteria for leasing a car.

1. Valid Driving Licence

The main requirement to sign up for a car lease in Singapore is to hold a valid driving licence. Specific details are as follows:

• For Expatriates

Foreigners planning to stay in Singapore for less than 12 months must present a valid foreign driving licence along with an International Driving Permit (IDP). These criteria permit expatriates to drive legally during their stay.

Note: If you intend to stay longer than 12 months, you will need to convert your foreign driving licence to a Singapore driving licence. This conversion is crucial for compliance with local regulations.

2. Age Limit

The age requirement for leasing a vehicle falls within a standard range as below:

• Standard Range

Lessees must be between 21 to 70 years old. This range is common across most leasing companies to guarantee the adequate experience and responsibility of drivers.

Exceptions: Some leasing companies may allow drivers outside this age range but at a higher premium. It’s advisable to check with the specific leasing provider for their policies regarding age limits.

Cost Analysis: Leasing vs. Buying the BYD Atto 3

When evaluating the BYD Atto 3, potential buyers and lessees often compare costs to determine the best option. The following factors for cost-effective car leasing and purchasing in Singapore can guide you in making a more informed decision.

1. Initial Costs

Owning a BYD Atto 3 in Singapore involves a substantial financial commitment upfront. Buyers must be ready to make a significant down payment, which typically constitutes a percentage of the car’s total price. Besides, other upfront expenses like insurance, and road tax can quickly add up, making vehicle ownership a considerable investment right from the start.

In comparison, leasing the Atto 3 involves much lower initial costs. With more affordable lease fees and lower monthly payments compared to car loan repayments, subscribing to a car lease in Singapore is a budget-friendly way to enjoy the benefits of the vehicle.

2. Monthly Expenses

For those who choose to purchase the Atto 3, monthly loan repayments can be substantial and accumulate over time. Owners may be tied to a larger financial commitment than initially anticipated.

On the other hand, many car leases in Singapore provide a more predictable and manageable monthly budget. They typically bundle in maintenance, insurance, and even road tax to achieve simplicity.

3. Depreciation

A significant drawback of owning a vehicle is dealing with depreciation. As soon as you drive a new car off the lot, its value begins to decline. This loss in value can be a concern for owners, particularly if they plan to sell or trade in the vehicle later. With a car lease in Singapore, you can enjoy driving a new model without worrying about its future resale value. 

4. Insurance

Insurance premiums can add to the overall cost of vehicle ownership. For high-performance or newer models like the BYD Atto 3, premiums can be higher due to their perceived risk or repair costs. They vary based on the factors below:

• The vehicle’s age 
• Type of the vehicle 
• Gender of the driver 
• Age of the driver
• Driving experience 
• No Claim Discount (NCD)

Conversely, a car lease in Singapore often covers insurance and all you have to pay is an insurance excess. This not only streamlines the leasing process but also provides peace of mind. Drivers can then avoid the hassle of coping with fluctuating insurance premiums.

For better clarity, here is a table to illustrate the key differences between buying and leasing a BYD Atto 3 in Singapore:

3.3. Frequently Asked Questions

1. Can expatriates lease a car in Singapore?

Yes, expatriates sign for a car lease in Singapore. They need to provide a valid driving licence from their home country or an IDP. After 12 months, expatriates need to convert their foreign licence to a Singapore driving licence.

2. What types of car leasing options are available at Sime Darby Services?

We offer comprehensive car leasing options for budget-conscious Singaporeans, including

comprehensive leasing, lease-to-own, and corporate leasing options. They are all tailored to meet your specific needs.

3. What happens at the end of the lease term?

At the end of a car lease term in Singapore, you can return the vehicle to us, extend the lease, or purchase the car at a predetermined price, depending on the terms of your lease agreement.

Conclusion

Leasing a BYD Atto 3 in Singapore offers a cost-effective and flexible alternative to buying. By avoiding large upfront payments and depreciation concerns, drivers can experience the latest EV technology through tailored lease packages. 

At Sime Darby Services, we specialise in providing car leasing solutions that eliminate the complexity of vehicle ownership. Our packages include coverage for depreciation and maintenance, giving you peace of mind while enjoying the benefits of your vehicle. With our flexible lease terms, budget-friendly options, and dedicated customer support, leasing a car in Singapore has never been easier.

Contact us for more information.