UAE car leasing portal Selfdrive.ae is intent on taking a different route

UAE car leasing portal Selfdrive.ae is intent on taking a different route

Dubai: Car leasing options in the UAE is starting to give some serious competition to buying. Selfdrive.ae, the car hiring portal, has launched the ‘Neos’ programme, which allows subscribers to take on a new car every year. The intention? Offer alternatives to outright ‘car ownership’. So, users can exchange their car each year with a brand new one. Rates start from ADh3,199 for a BMW, Dh2,799 for Volkswagen models and Dh2,249 for Chevrolet, among options available. For Neos, Selfdrive.ae has partnered with automakers and dealerships to offer the programme across 50 plus models from Chevrolet, Volkswagen, Cadillac, BMW, GMC, Audi and Mercedes. The platform currently manages a fleet of over 3,500 cars, with an asset value of $500 million. In the next 12 months, the portal aims to add more 5,000 cars. “We are moving towards creating an alternate ecosystem for vehicle ownership via on demand digital leasing and subscription at zero cost of ownership,” said Soham Shah, CEO, Selfdrive.ae. “Millennials are shifting towards a subscription economy that helps them to maintain their finances.” “As OTT platforms keep attracting the younger generation, they have realized the feasibility of having on-demand-services and in many ways compared it with car ownership and