How to buy your leased car?

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Car Lease in the UAE

If you have a strong attachment to your leased car and wish to make it your own, you may be contemplating the process of gaining ownership. At Takeauto, we offer lease-to-own as a purchase in installments - the vehicle becomes your property at the end of the contract period.

Purchasing your leased car

When purchasing a leased car, you pay the lease amount either at the end of the lease term or before it expires. Typically, lease agreements include a pre-purchase option at a pre-established price, which was determined when the lease was initially signed. If you are considering acquiring your leased car, it is important to conduct thorough research and understand how various factors, such as the timing of the purchase, the current value of the car, and financing terms, will affect the final purchase price.

Advantages and Disadvantages of Leasing-to-own

Advantages:
  • You get to drive a car and not just pay for its usage but also gradually pay for its cost, so at the end of the contract, it becomes your property. This is very convenient because you don't need to pay the full purchase price upfront; you can spread it out over several years.
  • You can always drive the latest model of the car, which is typically covered by the manufacturer's new car warranty.
  • You can drive a car that you might not be able to afford with a one-time purchase.
  • Business owners may benefit from tax advantages.
Disadvantages:
  • You may be obligated to make monthly payments for an extended period. With ownership, once the loan is paid off, the car becomes yours, and there is no need for a monthly payment.
  • Some leasing contracts in leasing companies usually specify a limited number of miles. Exceeding this limit may result in excess mileage penalties.
  • If you dislike the car or can't afford the payments and want to terminate the contract early, you will incur early termination fees and penalties, all due at once.
  • There may be an additional fee at the end of the lease term.
Hyundai sonata
FOR 24 MONTHS
Initial fee
Per month from:
Redemption payment:
1000
4.016
15.500
AED
AED MONTHLY
AED

Why Opt for Leasing-to-own?

  • Convenience and Ease: Leasing-to-own, with its well-structured monthly payments, offers convenience not only to individuals who may not have the means to buy a car outright but also to business owners looking to manage their company's finances efficiently. With Takeauto, you can easily spread the cost of the car purchase over several months, making it comfortable for all parties involved. Even rental property owners find leasing beneficial as they continue to make monthly payments while utilizing the vehicle for their business operations, generating profits in the process.
  • Deferred Ownership: In contrast to long-term rentals, leasing-to-own ultimately leads to car ownership once the contract reaches its conclusion. You settle the car's redemption payment at the end of the agreement, becoming the full owner of the vehicle. Takeauto offers transparent contract terms devoid of hidden fees or undisclosed charges, ensuring a straightforward process.
  • Minimal Documentation: Traditional car purchases in Dubai often necessitate extensive documentation, which can be cumbersome to compile. Additionally, obtaining a loan typically requires a favorable credit history. When opting for leasing-to-own through Takeauto, all you need are a valid passport and a driver's license — no income verification is required. Acquiring a car on favorable terms is hassle-free and uncomplicated with us.
  • No Mileage Restrictions: Unlike long-term rentals, Takeauto imposes no mileage restrictions. You can use the car as much as necessary, free from hidden fees, fines, or penalties for late payments. This aspect sets us apart favorably from other leasing companies.
Leasing-to-own a car in Dubai, especially with Takeauto, is an excellent choice for residents and visitors seeking the convenience of driving a car with comfortable monthly payments and a transparent purchasing process devoid of hidden fees and charges. Takeauto provides flexible terms and a seamless experience, making it an ideal option for those contemplating car leasing in Dubai.

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