In many ways, it’s never been easier to travel from point A to B these days. Public transportation has improved in the UAE over the last few decades. Intercity roads have become more convenient. Shopping for new and used cars is more comfortable thanks to the internet. There are more ways to structure an auto loan than ever before. All these transportation options can make it hard to decide whether to buy your own vehicle or sign up with a rent a car company.
Many consumers aren’t aware that long term car rental plans are even available. It’s actually a type of rental that involves a rolling long term deal that doesn’t have a specific end date. Here are the reasons why renting could be better than purchasing a car:
When you rent a car, you don’t have to finance its entire cost. You only have to pay for the depreciation that occurs during the period of your rental and some additional charges for documentation and processing. In most cases, rental payments tend to be lower than monthly fees on an auto loan. Furthermore, renting a car only requires a smaller sum as an initial payment or security deposit than if you were purchasing a vehicle outright.
The value of a brand new or used vehicle begins to depreciate the minute the ink dries on the purchase agreement. You will have to sell it at a much lower price when you don’t need it anymore. If depreciation takes over the auto payments, you’ll end up having to pay out of pocket to pay off the loan. A long term car rental breaks depreciation into weekly, monthly, and multi-month payments. Even if the car depreciates, it won’t be your problem anymore.
Entrepreneurs, employees, and business owners nowadays are more likely to spend more time on business-related trips. They usually book extended accommodations, virtual offices, and car rentals. It’s not always economical for businesses to buy transportation for their remote workers, so they prefer to rent a car monthly whenever the need arises. It’s a more convenient and affordable option for indefinite business travel.
No resale hassles
When you’re done using a rental car, you can simply return it to the rental company and go on with your life. Whereas, when you purchase your own and you want to upgrade to a newer model, you have to worry about finding a buyer first. Not only is it stressful to field inquiries and deal with strangers, but you also have to take a financial hit due to the car’s inherent depreciation. You don’t have to go through all that with a rental.
Although buying a car guarantees ownership, it’s not necessarily a benefit. If you are hesitant about committing to a vehicle for several years and want to save on upfront and monthly costs, renting can be a great option. Learn more about your rental options with the help of the experts at EuroStar Rent-A-Car UAE. We offer flexible and affordable payment plans for short term and long term rentals as well as leasing. Call 054 7910 942 (Dubai) or 056 4727 960 (Abu Dhabi) today!