rent or buy a car?
 

I've been out her just under a week and hate not driving.

I know taxi's are cheap and plentiful but you still lack the certain full independence.

I have looked at a few places for renting a car and they cost a fortune it seems...2000 minimum.

When looking at cars, it's tough to know a budget because I don't know what a repayment would be on a 50,000 second hand motor...

Any general suggestions would be welcomed.

Re: rent or buy a car?
 

Rent one for a few months. Don't buy until you are 100% sure you will be staying. Besides, if you are in your probationary period you won't get a loan, assuming you'll need one.

Re: rent or buy a car?
 

Learn to drive here in a rented one before you use your own money.

Repayments vary depending how long you finance it for. There was a time when the banks would lend you money for up to 6 years on a Jap car. So if it was 2 years old then you could get a 4 year loan etc.

Of course, taking out a 5 year loan when you only plan to stay for 3 years isn't a good idea.

Re: rent or buy a car?
 

Agree with the other comments, rent for a while then buy if you're staying here for a decent amount of time.

My experience:-

Bought 2004 Jeep Wrangler Rubicon in 2005 when it was 10 months old, very low millage. Paid 50,000 on a 4 year loan, monthly repayments were 1,325 for 48 cheques (all hand written!).

It's currently worth 35-40,000 and the loan fully paid off.

Re: rent or buy a car?
 

The Central Bank has recently issues new rules regarding personal loans.

From memory, an individual can borrow up to 20 times their monthly income for a maximum period of four years.

Re: rent or buy a car?
 

My experience:

Toyota Fortuner 4L: 18mths old when I bought it, cost 99k AED. Loan taken out (quoted rate 3.99%*) over 5 years. Repayments 1800 AED/month

It's now 4.5 years old - Outstanding loan balance: 45k, I value it at... 45k AED.

Pajero SWB - 3.5 years old when I bought it, cash purchase, 45k AED. I value it at 20k AED.

Both cars are in reasonable condition - I value them so low as I would basically accept anything when it comes to sell them as I don't believe the market to be liquid.

* ignore the rates quoted by the banks - 3.99% is actually about 8% as they do a very weird, and non standard calculation.

Re: rent or buy a car?
 

Yep, I love independence. The independence of having to go to the cop shop tomorrow to renew my vehicle registration because I've now got 4 Black Points on my licence (don't know where, don't know when, but allegedly for Dangerous Driving (changing lane without signalling) and Parking). The independence to get hit with 6 other offences totalling about 2k in fines for unspecified offences on unspecified dates. The independence to guess what the frigging speed limits are. The independence to fight for a parking space virtually anywhere I go. And (although thankfully not for me) the independence to use my own money to buy a car that will be at the mercy of knobhead, incompetent and inexperienced other drivers, main-dealer mechanics who cannibalise my toolkit and take 3 days to perform a routine service, and the general randomness that is driving over here.

Yeah, independence, right on man.

Re: rent or buy a car?
 

Are these the same rules for car loans? car loans are secured on the car whereas personal ones are treated differently.

I know that when I changed jobs and was off visa for a bit, HSBC said it wasn't a problem as it was a car loan - had it been a personal loan I would have my accounts frozen.

Re: rent or buy a car?
 

Scamp,

Another point that may be worth looking at is personal loan v vehicle loan. When I was there a couple of years ago vehicle loans had a lower interest rate but the bank owned the vehficle untitl the final payement was made whereas with a personal loan the interest was a % or so higher but the car was not tied into it.

Also bear in mind that a lot, if not all, of the local institutions will penalise you for early settlement....

Cheers

Re: rent or buy a car?
 

Doh... Almost a duplicate of the Millhouse post.... :thumbup:

Re: rent or buy a car?
 

Thanks for the ever useful sarcasm...


To everyone else; genuine thanks. I think you're right, rent for a few months and see how it fares, I balked at renting originally because so many quotes come at 3000+

Can anyone recommend somewhere I can get something cheap but not completely useless?

Thanks

Re: rent or buy a car?
 

Bollocks to you, then. It may have been sarcastic, but I can assure you its all true.:D

Re: rent or buy a car?
 

In Dubai thats an oxymoron. You are are going to struggle to be honest, probably looking at Lancers, Mazda's 3 or 6's.... You might be able to look at an Accord or Camry for late 2k's....

Re: rent or buy a car?
 

There is the complex of dealers out at Ras Al Khor / Al Awir - that's where I got mine in 2005.

There is also an auction house.

Of course it's a lottery though as unless you're a car expert there could be all sorts wrong - you can insist on a inspection before you purchase though.

Oh and there is the bureaucratic joy of ownership transfer...

Re: rent or buy a car?
 

Get the Gulf News and check out car hire in the classified lift out..they seem to offer cheap rates (I've seen 67 dhs/day). I got my hire car for 69 dhs/day but for 6-month hire of a Focus via Alamo UK online (pick up at the Ford Service Centre in Al Quoz (Al Tayer Ford Motors building)). There is also a small hire place in that building at the back of the car servicing area. Was going to renew but the rates went up significantly, so bought a used Honda Accord, which (I'm told) holds its value well.

Re: rent or buy a car?
 

Yes, that's part of the problem.

Not got an issue spending some money on a car, but if I'm going to rent for 3 months then I'll live with something shit because otherwise it's just pissing money away on nothing, rather piss money away on a car I own.

Will check out a few of the companies referred in here by others and Gulf News - thanks for the help!

Re: rent or buy a car?
 

We rented an Outlander, cost about 3300 AED - a tin can is around 2000 AED.

not cheap here mate - we did tell you :)

Re: rent or buy a car?
 

Yeah that's fine, I don't mind paying a bit for renting but trying to weigh up driving a shitheap for 3 months and paying 6k overall, then buying, or rent something a bit nicer for longer and waste the money, then buy....

it's just a right ball-buster trying to work out what to do.

Re: rent or buy a car?
 

Just buy a 3 year old SWB Pajero, you can do no wrong with that.

Re: rent or buy a car?
 

Have you seen the way people drive here? You really don't want something make of tin foil on these roads.

Re: rent or buy a car?
 

swb - short wheel base right?

Re: rent or buy a car?
 

get something solid Scamp, Meow is right :)

Re: rent or buy a car?
 

yup, the 3 door mum-run shopping mobile. It's shockingly crap but you can always sell them on for some reason.

Re: rent or buy a car?
 

Ach, I'll be fine. I'm solid.

Re: rent or buy a car?
 

it's the other nutters I worry about! anyway how's working panning out?

Re: rent or buy a car?
 

rent a lancer make sure its a 1.6 this will enrich your driving forever. do so for 1st 3 months or probationary period

you will wonder why anyone would buy one
you will learn that by turning off the ac you can accelerate
you will wonder how the **** mitsi ever managed to make an evo starting with the lancer
every car you drive forever after that isnt a lancer you will appreciate


lancer or echo are about the cheapest you can lease, i used diamond lease was about 1600aed but that was a while ago so know idea on price nowadays.

after that buy if you can, if you buy wise you'll recoup some of the cost when you eventually sell unlike leasing. plenty of good deals to be had as prices are down.

top tip is to remember to adjust your total insured value upwards every couple of years to ensure that the insured value exceeds the remaining loan amount. insurance co's here tend to devalue your car pretty ****ing quickly so its not uncommon for someone to have a total write off accident and for the insurance to leave a big gap that needs to be covered. in effect this will cost you just a few tens of dirhams extra each year but could easily save you 5-10k in an accident

Re: rent or buy a car?
 

Work is interesting.

The languages in the office are mental, mix of Urdu, Tagalog, Arabic all going on at any one time, just to be able to communicate over the phone. That's brilliant, I like that.

Every hour or so, someone will appear in the office holding a solitary milkshake or a fruit salad, or one coffee... I just walked out the door, down the lift and around the corner to buy myself a Costa because I'm working late today... about 4 people just asked why I didn't get it delivered.

What the hell is up with that?

Re: rent or buy a car?
 

That's interesting - I always have to ask the insurance company to accelerate the depreciation. I always insure it for exactly the outstanding loan amount. I never put a deposit down on the thing so I have no 'equity' to try and recover in my mind - just feels like I rented it.

Re: rent or buy a car?
 

Thanks for that, really very useful information.

Might just do the lancer thing until bank properly set up, Meow don't kill me but it's with HSBC...

Re: rent or buy a car?
 

Wait until July...

Re: rent or buy a car?
 

People here are ****ing idle that's why. I always got the same comments when I'd walk 100m to get my sandwiches in July.

Re: rent or buy a car?
 

Come July I'll be doing it but at the moment, it's not exactly blistering is it....just f***ing lazy.

Re: rent or buy a car?
 

I'm not committing to doing the same in the summer heat because I've not experienced it yet...but if it's bearable outside for 2 minutes then I'll still go and get my own stuff.

Re: rent or buy a car?
 

It's Dubai. Few people walk anywhere they don't really have to, which is one of the reasons so many people are hugely overweight. It's also easy to get used to people carrying everything for you.

Ignore your colleagues and do as you like. :)

Re: rent or buy a car?
 

Oddly, I don't really sweat - so it's easy for me. I do feel sorry for the melted petrol boys.

Re: rent or buy a car?
 

I'm the opposite. I sweat sat down.

I'm big-ish though, 17 stone 4lb but carry it reasonably being over 6ft...just the heat ruins me and I get paranoid that I smell.

Could I have picked a worse climate...

Re: rent or buy a car?
 

India might suit you better.

Re: rent or buy a car?
 

Why's that?

Re: rent or buy a car?
 

lol keep the delivery man in a job :)

Re: rent or buy a car?
 

most Indian taxi drivers smell sweaty