Is it cost-effective to buy a car on loan, rent one, or carpool? UAE residents reveal what’s economical for them

Is it cost-effective to buy a car on loan, rent one, or carpool? UAE residents reveal what’s economical for them

Having a car in the UAE seems like an unwritten rule that promises to make life easier. But consumer habits are changing with expatriates also opting to carpool or rent a car. However, those with long-term plans to live in the UAE still opt to buy a car as a more economical option versus renting, carpooling or travelling by taxi. Having lived in the UAE for six years now, Filipino expatriate Ana Cabisuelas decided to buy a pre-owned subcompact SUV in August 2020. “Buying a car was always part of the plan because it makes sense if one plans to live in the UAE for long. The timing seemed right in 2020 as I got a good deal. After a lot of research, I bought a 2018 model of Nissan Kicks for Dh50,000 that would otherwise cost at least Dh80,000-90,000,” she said. Cabisuelas made a down payment of Dh12,000 from her personal savings and pays a monthly instalment of Dh880 towards the car loan. “It has proved to be more economical for me because earlier I used to pay roughly Dh800-1,000 on transportation. Now even though I pay slightly more monthly, in a little over three years the car will