Should You Rent or Buy a Car in Dubai
Dubai has a huge number of cars which surpass all the cities in the region. If you are a resident of this city, you may find it difficult to take public transport every day. The best way to avoid this hassle is to hire a car. Tourists also find it convenient to rent a car in Al Nahda 1 as they can easily travel to distant areas. Many people believe that buying a car is a safer option as they can have it all the time. However, several car rental companies offer monthly or yearly plans which let you enjoy the same facilities, and you don't have to worry about depreciation. Read on to find the benefits of renting and buying a car to take a suitable decision.
Purchasing a Vehicle
- You don't have to worry about monthly instalments if you pay the full amount upfront. This will not take a toll on your monthly saving. If you go for the instalment option, you still have to pay less as compared to the rent. However, after paying the amount you have to drive the same vehicle for several years or maybe a decade.
- You can sell the vehicle whenever you want. If you need some amount for other reasons you can easily sell your asset. However, the depreciation will lower down the value of your car.
- You don’t have to worry about damages. You can maintain it as per your feasibility.
- You will take advantage of depreciation when you buy a pre-owned vehicle. During the first few years, the cost of a vehicle lowers down from 20 to 40 per cent.
Renting a Vehicle
- There is no loss of money due to depreciation. You can have any make and model without worrying about its value.
- You don’t need to buy an insurance policy separately for a rented vehicle. This is done by the car rental company. Most of the policies provide equal coverage when people rent a car and they don’t ask for any additional charges.
- You can leave the car whenever you want. If you are leaving the city for a short period of time or permanently, you don't have to find a buyer to get back your money. You can also save money by giving it back when going for a vacation.
- It is easier to change the model of your vehicle. You can have the latest version without paying the hefty amount. You just have to pay a little amount of difference while upgrading your automobile.