Lease-to-own cars in the UAE

Buying a Car on Lease-to-own: All the Cons and Pros - a Detailed Review

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Car Lease in the UAE

When it comes to owning a car, there are several options available, with leasing-to-own being one of them. Leasing-to-own is a financing option that allows individuals to lease a vehicle for a certain period with an option to purchase it at the end of the lease term. This option has gained popularity in recent years due to its flexibility and convenience. In this article, we will discuss the advantages and disadvantages of buying a car on lease-to-own.
Advantages of leasing-to-own from TakeAuto:

1. Only 2 documents required — passport/ID and driving license: one of the major advantages is the minimal documentation required. Unlike traditional car financing, where extensive paperwork is involved, leasing-to-own only requires two documents - your passport/ID and driving license. This makes the process much simpler and less time-consuming.

2. Perfect for expats: leasing is an ideal option for expats who may not have a long-term residency status. Unlike traditional car financing, which usually requires a permanent residency permit, leasing-to-own offers greater flexibility. This allows expats to enjoy the benefits of owning a car without having to worry about their residency status.

3. Credit history is not checked, no job certificates required: another advantage is that it does not require a thorough credit history check or job certificates. This makes it an attractive option for individuals who may have a less-than-perfect credit history or are self-employed. Leasing-to-own focuses more on your ability to make regular payments rather than your credit score.

4. Same-day delivery is available (for cars in stock): if you are in immediate need of a car, leasing offers same-day delivery for cars that are in stock. This means you can drive off in your new car on the same day you apply for a lease-to-own option. This convenience can be particularly beneficial for individuals who need a vehicle urgently.

5. Approval rate is 98%: unlike traditional car financing, lease-to-own has a high approval rate. With an approval rate of 98%, you are more likely to get approved for a lease-to-own option, even if you have been denied financing from other sources in the past. This gives individuals with financial difficulties a second chance to own a car.

6. Our operating principles are 100% halal, including the leasing agreement: for individuals who follow Islamic principles, leasing offers a halal financing option. All our operating principles are in line with Islamic teachings, ensuring that the leasing agreement is compliant with Shariah law. This makes it a preferred choice for individuals seeking a halal financing option.

7. No fines or penalties: unlike traditional car financing, it does not come with fines or penalties for early termination of the lease agreement. This provides individuals with greater flexibility and peace of mind, as they are not bound by strict terms and conditions.

Contact us for more information by phone +971 58 577 4111.
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