What’s leasing a car mean?

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Car Lease in the UAE

What is car leasing? It's one way to acquire a vehicle in your name. Leasing a car allows you to rent a vehicle in return for making monthly payments. At the end of the leasing term, you can purchase the car at its residual value with no hidden fees or commissions. Leasing is suitable for everyone, both individuals and businesses. Learn everything you need to know about car leasing.

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What is car leasing?

What is the typical duration of a car lease?

Comparison of Car Leasing and Car Loans

How to lease a car in Dubai?

What is car leasing?

Car leasing involves monthly payments for using a vehicle. At the end of the leasing agreement, you purchase the car at its residual value. It's important to note that during the lease period, the car doesn't belong to you; it becomes your property only upon the agreement's expiration.

The duration of your lease and the monthly payments depend on the terms of your leasing contract. Monthly payments are an obligation under the lease.

What is the typical duration of a car lease?

The duration of a car lease can vary from one to five years. The most common car lease period is from 12 to 36 months. The duration of your lease will impact your monthly expenses and mileage limit. Longer leases generally offer lower monthly payments.

Choosing the right lease term also depends on your lifestyle. Prematurely ending a lease can result in significant costs, so it's recommended to determine when you'll be ready to switch to a new car.

Comparison of Car Leasing and Car Loans

Not sure whether to choose car leasing or a car loan? Here's a comparison of the key differences to consider when selecting a new vehicle:

Monthly Payment. Both car leasing and car loans involve monthly payments. However, lease payments are usually slightly cheaper than car loan payments. This is because, in leasing, you're paying an initial down payment that significantly reduces the monthly payment amount. Additionally, at the end of the lease term, you can simply buy the car at its residual value. Car loans, on the other hand, include paying the full cost of the car and building equity.
Lending Options. Car leasing is typically offered by car dealerships and leasing companies, while you can obtain a car loan through banks, financial institutions, or credit unions. If you have a low credit score, leasing can be a lifeline for you. At Takeauto, you can buy a car on lease even if you have a poor credit score.
Contract Termination. Ending a car lease can be more complicated than ending a car loan. With a car loan, you can sell your car or trade it for another one if you no longer wish to make payments. In the case of leasing, terminating the agreement prematurely usually involves substantial penalties. However, Takeauto doesn't impose any penalties or fees on leasing contracts. We offer transparent and advantageous terms for everyone.

Hyundai sonata

FOR 24 MONTHS

Initial fee

Per month from:

Redemption payment:

1000

4.016

15.500

AED

AED MONTHLY

AED

GET A CAR

How to lease a car in Dubai?

Leasing a car in Dubai is a straightforward process. Here are the general steps to follow when leasing a car in the city:

Select a Reputable Leasing Company. Start by researching and choosing a well-established car leasing company in Dubai. Look for a company with a solid reputation, clear terms, and a diverse range of vehicles.
Choose Your Car. Once you've picked a leasing company, browse their inventory and select the car you want to lease. Consider factors such as the make, model, size, and features that best suit your needs.
Review the Lease Agreement. Thoroughly examine the lease agreement, including the terms and conditions, payment structure, and any additional fees. Ensure you understand all the details before putting pen to paper.
Provide Necessary Documents. Typically, you'll need to submit essential documents, such as a valid passport and a driver's license.
Make Upfront Payments. Be ready to cover any initial costs, like the first month's lease payment, as outlined in the agreement.
Hit the Road. Once all formalities are complete, and payments are settled, you'll receive the keys to your leased vehicle.
Purchase the Vehicle. At the end of the lease term, you have the option to purchase the car by paying its residual value.

Car leasing in Dubai with Takeauto is a convenient choice for both residents and visitors looking for a hassle-free way to enjoy a car with affordable monthly payments. It provides the option to purchase the vehicle without hidden fees or charges. When dealing with the right leasing company, you can access a broad selection of cars and flexible terms that align with your requirements.

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