Why Renting a Car is Better than Buying One?

Published by Kohistan Rent A Car LLC

For people who don’t own one, having their own car may seem like the right thing. But, what if we tell you, that leasing a car for the long term is financially a much smarter move than buying a car?

Yes, it's true, and will be plain as daylight, if you carefully assess and quantify the actual financial implications of buying a new car, and weigh them against car leasing. Although a car is an extremely useful commodity, it is also extremely important to check its viability in your daily life before buying. When buying a car, a great many details are overlooked, and we are here to shine a light on some of those details.

Here are some of the pros of a long term car lease in Dubai as opposed to buying a car:

·  Lower cost: Most of the car purchases across the world are done via loans and EMI. The cost of renting a car in UAE per month is much less than the monthly EMI. If you have a long term car rental, the lump sum cost is larger than monthly EMI, but then again, it’s still less than the total cost of the new car. Additionally, there are various other expenses, like down payment and upfront sales tax, which are absent in car leasing.

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·  Fewer Repair costs: If your term lease is covered by a manufacturer warranty, you can rest assured that you won’t have any large unexpected repair bills. In contrast, an owned vehicle needs regular maintenance and can have huge repair charges, even with insurance.

·  Updatable: renting a car in Dubai gives the option of changing your rental every few years, thus allowing you to get the best in class vehicles, complete with the latest technology and features. A private vehicle is pretty much constant, forever. You do have the option of selling them, but it can never be sold at purchase value.

·  No sale hassles: One of the best benefits of renting a car is that you do not have to worry about selling it after a long period. At the end of term lease of the rented car, you simply have to return it to the rental car company and get a new one.

·  No loan approvals required: Another great advantage of car rental over the private car is that you don’t have to have a good credit score or stellar loan eligibility. You also don’t have to pay outrageous amounts of interest on car loans. If you don’t pay off your rental costs, car rental companies in Dubai will simply take back the vehicle. No harm, no foul.

It’s true that popular opinion favours buying a car, but if you really think about it, there are tons of benefits associated with renting a car too. In many cases, the pros of buying may outweigh the pros of renting. So, at the end of the day, the best option for you completely depends on your preference; You have to choose according to the points that do or don’t make sense to you.