By Staff Reporter
Leasing cars has emerged as a popular choice for UAE residents seeking financial flexibility and convenience.
Industry experts have observed a notable rise in car leasing, attributing it to the challenges many face in securing auto loans due to stricter bank requirements and reduced salaries.
Ifthikar Aly, Founder/CEO of Kandy Cars Trading, highlights that leasing has become a viable solution for many, noting,
“Banks raising minimum salary requirements have made buying a car more difficult. For many, leasing is simply the best option.” Leasing involves a monthly fee, with the flexibility to return the vehicle or purchase it outright at the lease’s end.
For expats like Mariah Albert, leasing offered flexibility during uncertain times.
“In our first year, we leased because we weren’t sure about staying long-term. It relieved us from maintenance worries, and I enjoy driving a new car every year,”
she shared. Similarly, Omer Amin, a frequent visitor to the UAE, finds leasing ideal.
“The smaller down payment and no depreciation concerns suit my business trips,”
he explained.
However, leasing isn’t without drawbacks. Fatima S., an Indian expat, found mileage limits restrictive.
“I enjoy road trips, and leasing felt confining. Buying a car later proved more practical for me,”
she said.
With leasing options extending up to four years, companies like Galadari Rent A Car cater to diverse needs.
“We’ve seen a surge in leasing, driven by convenience and reduced financial burdens,”
noted Boby John, a sales executive at the firm.
As financial dynamics evolve, car leasing continues to provide a practical alternative, balancing convenience with affordability for UAE residents.
News Source: Khaleej Times
