You can now rent a car in Singapore for as little as 54 cents per hour.

Local car sharing platform Tribecar has partnered with NTUC Income and CARRO to provide transparent motor insurance coverage through a usage-based proposition.

This means that the insurance is not based on a fixed cost.

Instead, it is tied to the vehicle's smart data, such as mileage, location and timing consumption.

54 cents per hour

During "super off-peak" hours, the car rental can cost around S$0.54 per hour under its "super economy" category.

According to Tribecar, super off-peak hours are from Monday to Friday, from midnight to 6am.

The rental cost varies for different categories though.

Besides cars, you can also rent a motorcycle.

An economy motorcycle also has a S$0.54 hourly rate during super off-peak periods.

How to rent

To rent, you have to first sign up on the Tribecar website, browse for an available car/ motorcycle and confirm payment details.

You must be between 22 to 65 years old with two years of driving license to sign up, as stated on Tribecar's Facebook page.

Once you have signed up, you can make the necessary bookings.

You will then have to pick up the car from the designated point, check and note for any damages, and check that the low-fuel warning light is turned off.

After you've done that, you're good to go.

But note that there are penalty fees for cars that are returned late.

Top image from Tribecar/FB.