Renting vs owning cars: Your guide to renting a car in Dubai

Owning a car in Dubai is perhaps one of the most important considerations for living in this magnificent city. Who doesn't want more autonomy and personal control through private transport? 

Should you own one, though? 

The answer is: Just like renting a property (or anything else for that matter), it depends on your circumstances and personal needs. Leasing and buying (or financing) a car both have their considerations.

Like in any other bustling metropolis, most people own private vehicles in Dubai because it allows them to travel long distances. Although RTA public transport is widely available via taxis, buses, and the spotless, driverless metro (if you haven't tried it yet, stop what you're doing and try it now), many people still prefer private transport convenience. 

What happens if you want to purchase a car but can't afford one right now? 

You have two options: Either take out a loan from the bank to buy a new or pre-owned car, 

or 

Lease a car by paying fixed monthly expenses. 

In this article, I will present the advantages and disadvantages of leasing cars. The main difference between leasing and financing is that the latter enables you to purchase the vehicle itself. In contrast, leasing allows you to pay for "using" it for a specific time. You will need to consider the following pros and cons of renting cars before making a decision: 

Leasing Advantages: 

Lower monthly payments: Leasing usually offers cheaper monthly expenses. This will help your sad wallet every month and cheer it up a little.

Sense of luxury and choice (even if it's an illusion): This allows you to drive a vehicle, including luxury models such as a Mercedes or a Tesla, that you can't afford to buy in the first place. However, just because you're driving the latest luxury model doesn't mean that you can show it off by bragging about it when it's not even yours! 

Newer models: Most rental cars have the latest models, which means that your vehicle may have the most advanced features and is usually covered by the manufacturer's warranty. 

Less risk of breakdowns: Since your car is most probably a newer model, this means that it's less prone to malfunctions and breakdowns. 

Bailout? Anytime: Changed your mind? Yup, you can drop off the car anytime (as long as you paid the fees, including (gulp) any penalties). 

Change cars like you change clothes: Bored of your new rental? Perhaps you want to try different styles, models, or colors? Well, go ahead. Be warned: you may end up spoiled. Read the terms and conditions, though. 

Early termination charges: If you decide the fake luxury life is not yours to keep and terminated a yearly rental contract early, for example, you may end up paying hefty fines. This is similar to renting an apartment; early exit fees are two months' worth of rent for apartments!

No maintenance/repair costs: You will not have to worry about paying for maintenance or running costs since the leasing company will take care of this. That's right, no more worrying about oil changes or whether or not you should change those expensive tires and brake calipers. 

Resale value worry-free: Resale value? Depreciation? Ha! That is history. Since this car is not yours, you don't have to worry about reselling it and getting the best bang for your buck. Let car owners worry about things like that. You, on the other hand, are a free spirit. 

Leasing Disadvantages: 

Still not yours to keep: Imagine paying all these monthly installments (which can be pretty expensive as they add up), and in the end, you have nothing to show for. That's right, always remember that this car is not yours at the end of the day. 

No bragging rights: Sorry, pal. Bragging rights are off-limits, and you'd look like a fool if you pretend to own something that is not yours. Bragging should not be done whether the car is yours or not anyway. Be a humble human being, please. Unless, of course, you want to impress someone special, and those wheels are actually yours. 

It might end up like a mirage: If you're leasing a car long-term, your payments might end up wasted. Think about it. If you rent cars consecutively to get newer models, you're paying endlessly in a never-ending cycle. In stark contrast, if you finance a vehicle, your loan will be fully paid after a certain number of years, and you can sell your car if you want to change it.  

It is more expensive in the long run: Since you are incessantly paying for this car as long as you use it, you may end up paying more than if you had gone down the financing route. 

Mileage restrictions: Some car leasing companies place certain mileage restrictions. This means that you might end up paying additional penalties if you exceed this limit. Even if you have unused mileage, you won't be compensated or given credit. 

You may still be liable for maintenance: If you subject your ride to excessive usage or wear such as drifting, speeding, dents, scratches, or even if your child ruins the fabric in the back seat (my kid ruined the back seat pockets- now the back of the car seats look like kangaroo mamas with worn-out pouches), you will be liable to pay additional charges. Always read the fine font in your contract!

So what's it going to be? Buy or rent a car? 

I would advise you first to look at your finances. Depending on your needs, leasing may be better if your goal is to have lower monthly installments. Oh, and don't forget about changing cars like you change clothes if you want to! I would also recommend going for a lease if it's a short-term requirement as long-term rentals may likely end up being much more expensive than financing a vehicle- if your car has no or few maintenance issues to begin with. 

Whether you want to lease or buy a car, check out the thousands of listings on Yalla Deals. 

Owning a car in Dubai is perhaps one of the most important considerations for living in this magnificent city. Who doesn't want more autonomy and personal control through private transport? 

Should you own one, though? 

The answer is: Just like renting a property (or anything else for that matter), it depends on your circumstances and personal needs. Leasing and buying (or financing) a car both have their considerations.

Like in any other bustling metropolis, most people own private vehicles in Dubai because it allows them to travel long distances. Although RTA public transport is widely available via taxis, buses, and the spotless, driverless metro (if you haven't tried it yet, stop what you're doing and try it now), many people still prefer private transport convenience. 

What happens if you want to purchase a car but can't afford one right now? 

You have two options: Either take out a loan from the bank to buy a new or pre-owned car, 

or 

Lease a car by paying fixed monthly expenses. 

In this article, I will present the advantages and disadvantages of leasing cars. The main difference between leasing and financing is that the latter enables you to purchase the vehicle itself. In contrast, leasing allows you to pay for "using" it for a specific time. You will need to consider the following pros and cons of renting cars before making a decision: 

Leasing Advantages: 

Lower monthly payments: Leasing usually offers cheaper monthly expenses. This will help your sad wallet every month and cheer it up a little.

Sense of luxury and choice (even if it's an illusion): This allows you to drive a vehicle, including luxury models such as a Mercedes or a Tesla, that you can't afford to buy in the first place. However, just because you're driving the latest luxury model doesn't mean that you can show it off by bragging about it when it's not even yours! 

Newer models: Most rental cars have the latest models, which means that your vehicle may have the most advanced features and is usually covered by the manufacturer's warranty. 

Less risk of breakdowns: Since your car is most probably a newer model, this means that it's less prone to malfunctions and breakdowns. 

Bailout? Anytime: Changed your mind? Yup, you can drop off the car anytime (as long as you paid the fees, including (gulp) any penalties). 

Change cars like you change clothes: Bored of your new rental? Perhaps you want to try different styles, models, or colors? Well, go ahead. Be warned: you may end up spoiled. Read the terms and conditions, though. 

Early termination charges: If you decide the fake luxury life is not yours to keep and terminated a yearly rental contract early, for example, you may end up paying hefty fines. This is similar to renting an apartment; early exit fees are two months' worth of rent for apartments!

No maintenance/repair costs: You will not have to worry about paying for maintenance or running costs since the leasing company will take care of this. That's right, no more worrying about oil changes or whether or not you should change those expensive tires and brake calipers. 

Resale value worry-free: Resale value? Depreciation? Ha! That is history. Since this car is not yours, you don't have to worry about reselling it and getting the best bang for your buck. Let car owners worry about things like that. You, on the other hand, are a free spirit. 

Leasing Disadvantages: 

Still not yours to keep: Imagine paying all these monthly installments (which can be pretty expensive as they add up), and in the end, you have nothing to show for. That's right, always remember that this car is not yours at the end of the day. 

No bragging rights: Sorry, pal. Bragging rights are off-limits, and you'd look like a fool if you pretend to own something that is not yours. Bragging should not be done whether the car is yours or not anyway. Be a humble human being, please. Unless, of course, you want to impress someone special, and those wheels are actually yours. 

It might end up like a mirage: If you're leasing a car long-term, your payments might end up wasted. Think about it. If you rent cars consecutively to get newer models, you're paying endlessly in a never-ending cycle. In stark contrast, if you finance a vehicle, your loan will be fully paid after a certain number of years, and you can sell your car if you want to change it.  

It is more expensive in the long run: Since you are incessantly paying for this car as long as you use it, you may end up paying more than if you had gone down the financing route. 

Mileage restrictions: Some car leasing companies place certain mileage restrictions. This means that you might end up paying additional penalties if you exceed this limit. Even if you have unused mileage, you won't be compensated or given credit. 

You may still be liable for maintenance: If you subject your ride to excessive usage or wear such as drifting, speeding, dents, scratches, or even if your child ruins the fabric in the back seat (my kid ruined the back seat pockets- now the back of the car seats look like kangaroo mamas with worn-out pouches), you will be liable to pay additional charges. Always read the fine font in your contract!

So what's it going to be? Buy or rent a car? 

I would advise you first to look at your finances. Depending on your needs, leasing may be better if your goal is to have lower monthly installments. Oh, and don't forget about changing cars like you change clothes if you want to! I would also recommend going for a lease if it's a short-term requirement as long-term rentals may likely end up being much more expensive than financing a vehicle- if your car has no or few maintenance issues to begin with. 

Whether you want to lease or buy a car, check out the thousands of listings on Yalla Deals.