Rent to own or a bank car loan in Dubai

If a bank will take you, a bank loan is usually cheaper per month. Rent to own is for the people a bank will not take, and for people who do not want to put money down.

Say it plainly: when the bank wins

If your salary is transferred to a UAE bank, your employer is on their list and your AECB file is clean, apply to the bank. You will normally pay less per month than on any rent-to-own plan. Nobody should pretend otherwise.

When rent to own wins

The bank refused you on paperwork: self-employed, cash income, new in the country, employer not listed.
You do not want to put 20 percent of the price of a car down before you drive it.
You want it done this week, not in three weeks of document collection.
You do not want a loan on your credit file.

Side by side

	Bank car loan	Rent to own
Down payment	Usually 20 percent	None on the cars here
Salary certificate	Yes	No
Credit bureau check	Yes	No
Time to decision	Days to weeks	Same day or next day
Monthly cost	Lower	Higher
Insurance and servicing	You arrange and pay separately	Included in most plans
Who owns the car during the term	You, with the bank as lien holder	The company, until the plan ends

The part people forget

Compare the whole monthly cost, not just the payment. On a bank loan you still pay comprehensive insurance, servicing and registration yourself. On most rent-to-own plans insurance and agreed servicing sit inside the monthly figure. Add those up before deciding which is cheaper.

See what each car costs per month

Questions people ask

Is rent to own more expensive? +

Per month, usually yes, and the reason is that there is no credit check, no salary certificate, and insurance and servicing are normally included. Compare the total monthly cost and what is inside it, not just the headline payment.

Should I try a bank first? +

If your salary goes through a UAE bank and your credit file is clean, yes. Rent to own is for the cases where that route is closed or too slow.

Ask us on WhatsApp

Gleeven is the rent-to-own car brand of Carborn Car Rental L.L.C, licensed in Dubai, trade licence 1144437. Showroom at Midtown Central, Majan, Shop 28, Dubai, open every day 10am to 8pm.