What is a lease term?

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Car Lease in the UAE

A lease term with a subsequent purchase option for a car involves a specific agreement where the lessee has the option to lease a car for a predetermined period and, at the end of this term, has the right to buy the car outright. This type of lease agreement allows the lessee to enjoy the benefits of leasing, such as lower monthly payments and the opportunity to drive a new car, while also providing the flexibility to acquire ownership of the vehicle if desired.

During the lease term, the lessee is obligated to make regular monthly payments, adhere to mileage restrictions, and maintain the car in accordance with the terms of the lease agreement. At the end of the lease term, the lessee typically has options: to return the car, purchase it at a predetermined residual value, or explore other available choices. In Takeauto, you can lease a car only with a subsequent purchase option at a residual value of 1000 dirhams.

The lease term with a subsequent purchase option offers a combination of leasing advantages and potential ownership, providing lessees with an individualized approach to meet their preferences and long-term goals regarding the car.

Why Opt for Leasing?

  • Convenience and Ease: Leasing, with its carefully calculated monthly payments, offers comfort not only to individuals who may not have the means to purchase a car outright but also to business owners looking to manage expenses. Takeauto allows the spreading of the car purchase amount over several months, enabling manageable monthly payments. Even rental owners find leasing advantageous, making monthly payments while utilizing the vehicle in their business operations, thus generating profit.
  • Deferred Ownership: Unlike long-term rentals, leasing entails ownership of the car upon the expiration of the contract. The lessee pays the car's residual value at the contract's end, becoming the full owner of the vehicle. Takeauto provides transparent contract terms without hidden fees or charges.
  • Minimal Documentation: Purchasing a car in Dubai often involves significant documentation and may necessitate a strong credit history when seeking a loan. Opting for leasing with Takeauto requires only a valid passport and a driver's license. No income verification is necessary, making acquiring a car on favorable terms straightforward.
  • Custom Order Cars: If you have any doubts about your preferences, our specialists can assist in selecting the perfect car that meets your needs. You can lease with an option to buy any car with us that is no older than 2022.
  • No Mileage Restrictions: At Takeauto, unlike long-term rentals, there are no mileage restrictions. You can use the car as much as you need. Importantly, our contract is free of hidden fees, fines, or penalties for late payments, distinguishing us favorably from other leasing companies.

How to Lease-to-Own a Car in Dubai?

Leasing a car in Dubai is a simple process with these general steps to follow:

  • Choose a Reputable Leasing Company: Begin by researching and selecting a reputable car leasing company in Dubai. Look for one with a strong track record, transparent terms, and a diverse vehicle selection.
  • Select Your Car: Once you've chosen a leasing company, browse their inventory and select the car that suits your preferences. Consider factors like make, model, size, and features.
  • Review the Lease Agreement: Carefully review the lease agreement, including terms, payment structure, and any additional fees. Ensure you understand all details before signing.
  • Provide Required Documents: Typically, you'll need to provide documents such as a valid passport and driver's license.
  • Pay Upfront Costs: Be prepared to pay any upfront costs, such as the first month's lease payment, as specified in the agreement.
  • Drive Your Leased Car: Once all formalities are complete and payments made, you'll receive the keys to your leased car.
  • Purchase the Vehicle: At the end of the lease term, you have the option to purchase the vehicle by paying the residual value.
Leasing a car in Dubai provides a convenient option for residents and visitors, offering comfortable monthly payments and a purchase option without hidden fees. With the right leasing company, you can access a broad range of cars and flexible terms tailored to your needs.
Hyundai sonata
FOR 24 MONTHS
Initial fee
Per month from:
Redemption payment:
1000
4.016
15.500
AED
AED MONTHLY
AED

Advantages and Drawbacks of Car Leasing

Advantages:

  • New Car Every Few Years: At the end of each lease, you have the opportunity to enjoy a new car, staying up-to-date with the latest advancements in automotive technology.
  • Easy Purchase at Lease End: You can choose to buy the car at the end of the lease term at its residual value.
Disadvantages:

  • Lack of Ownership Rights: While the car is under lease, ownership belongs to the leasing company. Full ownership rights are acquired only if you choose to purchase the car at the end of the lease term.
  • Limited Control: Throughout the lease agreement, you are unable to sell or trade the car, and you are obligated to make monthly payments.
Choosing Takeauto for car leasing in Dubai ensures a hassle-free experience with convenient monthly payments and transparent terms. Whether for personal or business use, Takeauto provides various leasing options with the opportunity to purchase at the residual value. We guarantee clear terms, a well-crafted contract, and a seamless experience when partnering with us.

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