IKnowNothing

I don't disagree, but RAK (I lived there) are even worse than Dubai ones are - at least Dubai had Dubai College and JESS (Don't go near anything that is gems).

Chrisataylor

Mission. Thanks again. Good to know. Am thinking - Rent a small hatch for a month so I can get banks, home etc set up then buy something over 3 years. Quick follow up.. IF (and only an if at this stage) I leave after 2 can I sell and settle the car loan or is there some issues that mean that would not be possible ?

CT

DXBtoDOH

Schooling is your challenge. There's a very limited selection of schools for British expats in RAK. As in maybe two. And neither have great reputations. Or a reputation at all.

I'm told that expat families in RAK who care about the children's education either drive to Sharjah for Sharjah English Speaking School (the only decent option in Sharjah) or live in Mirdiff on the Sharjah Dubai border so the kids can go to Dubai schools, while the husband commutes to RAK (probably 50-60 minutes each way).

If your second child is going into a good sixth form college then keep him/her in the UK to finish their education. You're planning to keep the kids in the UK for the upcoming year so he/she might as well stay for their last year of the college.

Chrisataylor

Thank you. It is starting to look more likely that the school thing is the bottleneck. Knew things were going to smooth! Thanks

mission

yep no issues in paying off your car loan...whether you sell it or pay for the remaining of the loan yourself.
Just to bear in mind, if you sell your car while there is still finance on it, and you need the money from the sale of the car in order to pay off the loan balance, then it can be a bit of a nightmare, because the buyer is not going to hand over the money without having the car cleared, and the bank is not going to give you a NOC (clearance letter) for the car until you have paid off the loan and so both you and the buyer will need to visit the bank together and do the transaction over the counter.
Easiest way out of this is, once you have confirmed the sale of the car, then try to pay off the loan bal yourself, that way all the paper work for the release of the car from the bank is all done and dusted.

Chrisataylor

Yes. Pretty much what I hoped would be the most sensible option. Pay it off myself then sell it. - Thanks

Irishbeekeeper

thats a decent package and you should be ok on all fronts
just my advice on the car, dont opt for a brand new one
almost all companies offer pre-owned cars with some form of company warranty
the price depreciation on a brand new car the moment it rolls out of the showroom is really very steep here
if you buy cheap then selling it cheap wont hurt that much (as I am finding out right now)
this is definitely a buyers market right now and its very tough to sell two types of cars at any honorable price 1. american cars 2. financed cars
so make sure you get a GCC / pre-owned / used chuckable car
btw, why dont you just get one from hertz and then not have to worry about anything at all
if the family is not coming for the first year, get a nice sports type car to enjoy and not worry about selling it later on?

Chrisataylor

Great advice - how does the cost compare on long term hire -v-buying. Many advantages to the renting in that it will be a newer car, mechanically sound and as you said no depreciation woe ! Thanks

iggle

Depends how long you stay. It is most cost effective to buy here. I don't care what anyone says. Paying 2k a month in rent for a car is bonkers, spending 24k a year for a gold TIIDA!!!!!

Now is it the most sensible move to have yourself stuck in a long term loan/contract - in my opinion; no. Many people stay here for 10 years plus, but your job can go in a second.

My advice with UAE, keep your cash outside, keep your liabilities to the country small/nominal and also have an escape plan.

mission

gotta agree...renting a car is literally money down the drain...you will not get anything remotely decent for less than AED 3-4k a month....it will cost you less in monthly repayments on a decent car....but then you do have the added hassle of getting insurance and paying for the up keep of it ie regular service etc....so it can be six of one and half a dozen of the other. But overall, I would suggest buying.

KJinDoha

Indeed renting a car is more costly than the running expenses and depreciation of owning a car, but renting is less of a commitment and much more straight forward for obvious reasons.
In my experience long term car rental contracts allow for cancellation with a penalty of one/two months rent, which i think is reasonable.
Also, as it is a car buyers market in the GCC, the depreciation is often higher and the time it takes to sell is often longer than expected.
Therefore I would recommend renting, if unsure.
KJ

KJinDoha

On a more personal note, If I had your family circumstances, I would initially opt not to bring the older 2 kids - The graduate should be ready to be independent, and the a-level student will get a better education in the UK.
KJ

Chrisataylor

Sound advice - thank you. The schooling aspect is clearly the main problem. In 2 years the A level student should be (fingers X'd) off to university, So at most we would be apart for that 2 years. Still, a bit of a challenge. Thanks for the advice on the car thing. I am tempted to rent for about 3 months then review things.

CT

jam25mack

On that kind of cash you don't have anything to Worry about. Accom is cheap as chips in RAK and cars are generally cheaper here than Europe (except exotics and a few other exceptions). Everything else is what it is! Enjoy!

IKnowNothing

Or don't use car finance, use a personal loan option instead.