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Comparison: Buying a Car vs Renting a Car

Dubai is a place of all the luxuries one could imagine. Either in lifestyle or modern technologies, they are fortunate in all. Also, Exotic sports cars are very common sight in Dubai. You can easily see extremely rare brands and models of luxury cars on the roads of Dubai. We all aware about the fact, this is a human nature that he impacts by the surroundings and environment. So does Luxury cars fascinate a normal person.

On the other side, it may be difficult for many to own such an expensive car. And many of them are blessed enough to own a super luxury car quite easily. And majority of people might still confuse about what is the best option, buying a car vs renting a car. So, lets clear this confusion by discussing the facts in detail.

Buying a Car vs Renting a car:

As per our observation, like many things these days buying a car is not a cheap option. And owning a latest model car is not affordable, especially if you are a mid-range earner. There is a cost of the car itself- you may have to pay either on monthly installments or upfront. Although Dubai is providing very favorable conditions for car owners. But Tax, fuel, parking charges, repairing, and maintenance etc. Is truly an extra burden. And if we try to do accurate calculations or annual cost of purchased car and rental cars then luxury car rental in Dubai is more beneficial. In fact, we have summed up few pros and cons to figure out the exact scenario. Let’s walk through it with us:

Buying a car in Dubai pros and cons:

Owning a car has its own goods and bad, here are the following:

Pros:

  • You are the owner of your car
  • Free to get any sort of customization and changes you want in your car
  • Your money of owning a car will be your investment once you paid off all the installments’ amounts.
  • You can trade your car or exchange it with new and upgraded version
  • No mileage limits for you
  • You do not have to wait for booking a ride. Just plan and execute because your car is standing in front of you.

Cons:

  • It is expensive, monthly payments are quite high as compared to renting a car in Dubai
  • Mostly you have to get a loan to pay off the amount of your car
  • You have to bear the cost of every fault, fuel, maintenance etc.
  • Value will surely be depreciating. If you buy a new car, it may be resale in better amount as compared to purchase of used car.
  • If you are not able to pay back the loan, your car will be impounded by the authorities.

Renting a car pros and cons

Pros:

  • The exotic car rental cost rates are very reasonable, and it will cost you very cheap if you plan to hire a car for long time period.
  • All the maintenance and repairs are mostly done by the rental company.
  • Renting out a car is easy, smooth, and cheap as compared to leasing a car.
  • You can upgrade your car without any hustle.
  • The monthly cost of rental car is very low. Comparatively, monthly installments of buying car is high.
  • You Do not have to worry if the non-manageable issue occurs in your car. You can continue your journey without any tension. While leaving your Rental car at any point. Mostly rental car agencies provide 24/7 assistance.
  • Car rental agreements are easy and flexible.
  • You can book outclass model of luxury vehicle for special occasions like wedding, trip, or event etc.

Cons:

  • You are limit to daily or assigned mileage per day.
  • You cannot modify car as per your choice.
  • You cannot recoup your rental payment amounts. On the contrarily, you can easily sell your leased car and get an amount to buy a new vehicle with that.

Conclusion:

All in all, as a result of above-mentioned points. Renting a car in Dubai is smart move as compared to owning a car by paying car loans. 

Eleena Wills
Hi, I’m Eleena Wills. Being a writer and blogger, I strive to provide informative and valuable articles to people. With quality, constructive, and well-researched articles, one can make informed choices. I cover a wide range of topics, from home improvement to hair styling and automotive.
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