When you apply for a loan to buy a car, financial institutions perform a thorough evaluation of various factors, such as your credit history, income, and debt-to-income ratio. If any of these factors do not meet their requirements, you may be denied a loan. This can be disheartening, especially if you were really looking forward to owning a car. But instead of feeling discouraged, you should explore other options like leasing.

Leasing a car allows you to drive a vehicle without owning it. It is similar to renting a car for an extended period, typically 2-3 years. The leasing process involves making monthly payments to the leasing company, which covers depreciation, administrative fees, and taxes. Unlike a loan, you are not paying towards the ownership of the car but rather for its use.

Leasing offers several advantages over buying a car. Here are some reasons why leasing can be a great alternative if you are not given a loan:

— Maintenance and Repairs. When you lease a car, it is usually covered by the manufacturer's warranty for the duration of the lease. This means that you don't have to worry about costly repairs or maintenance expenses.

— Flexibility. Leasing provides flexibility in terms of vehicle choice. At the end of the lease term, you can choose to lease a different model or upgrade to a newer version. This allows you to drive the latest vehicles without the hassle of selling or trading in your old car.

— No Resale Value Worries. With a lease, you don't have to worry about selling the car once you are done using it. You simply return the car to the leasing company at the end of the lease term and move on to a new vehicle.

— Tax Benefits. In some countries, leasing a car can offer certain tax benefits. For example, businesses can often deduct lease payments as a business expense, reducing their taxable income.

The main advantages of leasing-to-own in Dubai:

— only 2 documents required — passport/ID and driving license;
— perfect for expats;
— credit history is not checking, no job certificates required;
— same-day delivery is available (for cars in stock);
— approval rate is 98%;
— our operating principles are 100% halal, including the leasing agreement;
— no fines or penalties.

Being denied a loan to buy a car does not mean the end of your dreams. Car leasing in Dubai offers a great alternative that allows you to drive a car without the upfront costs and long-term commitments of a loan. Consider the advantages of leasing and explore the suggested steps to improve your chances. Remember, owning a car is within reach, even if a loan is not currently an option for you.

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