Rent, buy or forget it all?
If you are looking for a new car that’s cost-effective, convenient and makes your life easier while sticking to the budget, you are in the right place as we have a few options for you!
Option 1: Renting:
Renting seems to be an obvious choice if you are looking for short-term use. This option takes away worrying about long term commitments, you can rent daily, weekly, monthly or every year. For those that are on a holiday, just moved into the country, or need a temporary solution prior to buying your own car. The good news is you can choose whatever brand you like to fit your needs.
On average a rental car in the UAE costs AED3,400 per month (AED113.8 per day) for a salon car. One of the most frequently booked rental car type is the Hyundai Accent or similar.
Is renting convenient? You bet it is, in particular for a short-term basis and sometimes for long term, and has become even more convenient with the introduction of pay-per-minute renting apps such as ekar.
Option 2: Buying:
If there’s anywhere in the world where it’s so easy becoming a car owner, it must be the UAE!
While you obviously have the largest selection of cars available from around the world, but also car dealers and re-selling websites that run promotions year long. From offering free service packages, free car insurance, registration and extended warranty there’s also free down payment options.
As a matter of fact, the used car market is booming in the UAE. In recent articles, Gulf News shared that 9 out of 10 UAE residents looking to buy a car this year will choose a second-hand car over new. The used-car market has gained popularity in the Emirates due to the transient nature of the residents and high depreciation rates.
There are only 2 ways of buying a car either from the dealership with 100% upfront payment or with a car loan from your bank, where you pay the whole amount in installments as per the number of years you decide. In most cases, you will need to pay up to 20% of the car value upfront as an advance payment.
Buying a car is a long term commitment! Ideally, you will buy a car and use it for 3-5 years easily before changing your car. A service like ours, wecashanycar, can make the process easier, helping you sell your used car for instant cash.
Option 3: Forget it all?
Well, what other options do you have besides renting or buying?
If you are looking at options to commute for work, exploration or daily use, it’s easy to use the local public transport provided by RTA. While this may not be the most convenient out there for long distances, it is definitely a sustainable living option one should adopt.
While every situation is different and you have several options to choose from; your age, income, location of residence and work play a huge role in decision making. If we can help in the decision making process or provide any tips on the car market please feel free to ask! Our experts are here to help!