Job Discussion Forums

[12know]

Thanks. Now, car (rent and/or own) in AD makes more sense.

[Sheikh N Bake]

Hi 12know, in a belated answer to your question to me, here's a post I made elsewhere a few weeks ago. It discusses Honda Civics, not Camrys, but the principle is that same. You'll pay more for a used Camry but get back more when you sell it.

A 2005 Honda Civic should average DH 36,000 or so (about $10,000). Better resale values in the UAE comes from Toyotas such as the counterpart to the Civic, the Corolla.

Leasing for three years is extravagant; two years IF YOU ARE LEAVING is reasonable. At best you can get a slightly shabby used lease model for Dh 1500 a month (and I think it unlikely you'd get a good one for that price...more like 1800-2000). Times 36 months = 54,000. ($14,700)

True, the leasing compay will pay repairs. But a 2005 Civic bought FROM A WESTERN EXPAT (the only ones who actually take care of their cars in the UAE, generally speaking) should run you no more than Dh 2,000 a year in repairs. Add on insurance for three years gives you a total of Dh 36,000 + 6,000 repairs + 1500 insurance = 43,500...obviously less than leasing for the unlikely low price of 54,000.

Furthermore, you can then sell your 2005 Civic in 2012 for probably, let's say, 20,000. That makes your net cost Dh. 23,500 ($6400) for three years'driving if you buy and then sell. Compare that to $14,700 in a three-year lease. My mantra is: would you really want to pay the difference, which is $8,300, for the privilege of not having to bother selling your car when you leave?

[Pikgitina]

[12know]

Thanks Sheikh N Bake. Things are much clearer now.