Best Car Leasing Option

Mine with Toyota but they cut ur throat wif 8% Interest rate.

vramakr wrote:

Mine with Toyota but they cut ur throat wif 8% Interest rate.

I am not looking for Toyota, hence cant consider their leasing facility. And yes Toyota guys do charge just under 15% per annum.

You should go for an operating lease instead of that by the help of your company...I can help you in this..:p coz im in budget saudi..

uasad wrote:

You should go for an operating lease instead of that by the help of your company...I can help you in this..:p coz im in budget saudi..

Thanks.

What is Operating Lease? Iv never heard of it..

In operating lease you pay for the use of the vehicle and not to own the vehicle...just like most of the companies do for giving vehicles to their staff. But you cannot do it individually by yourself but your company/employer can do only.  If you have a vehicle through operating lease from vehicle leasing companies, you don't have to pay any down payment, you will have free service, full maintenance, accident support services, replacement facility in case of accident or damage and some other services. Butttt you have to return the vehicle at the end of the lease term, which is normally supposed to be 2,3,4 years terms...The leasing company will purchase the new vehicle for you as per your requirement. Buttt as I said the service is for companies not for individuals...  you can check our website for corporate leasing programs... budgetsaudi.com

Thanks

I see.

I was offered that by the employer, but the deal was awful. I was expected to pay 2100 SAR/monthly for Yaris.

Now where is fun in that!

My 2 cents: Don't consider taking a care on lease. Ask for a personal loan and get the car on cash. Then just pay back the cash to the bank in installments.

1- The car will be in your name from day one. You can sell it anytime you like.
2- The interest rate will be quite low in comparison.
3- The banks do one weird practice in financing. They provide insurance of their choice (that's mandatory) and include the cost of number of years (say 3 yrs) in the principal money. Obviously, interest will be applied on insurance cost as well and the overall price will shoooooot.

2100 is too much for yaris.. Budget can give you it in around 1700 for 2014 1.5 yaris, but you can take on more low rates from the local companies like shary, autoworld, autorent, best rent a car etc.. But budget will give you the best service...:p

My suggestion, get a used car in good condition for around 30k-50k.  Depending on the car you get and on how old it is, you could still sell it after 2 to 3 years for 80% of what you paid for it.  Some used car places also let you pay over a year through installments.

Or if a new car is a must, get a loan and buy a new car in cash.

When you lease a new car, you are first losing lots of money because you end up paying 50% more.  Secondly, you losing lots of money down the road because you are getting a new car, and new cars of course depreciate very steeply for the first couple of years.

Can you help me for this i want installment.. *** my number i leave in riyadh

@ Glenncastillo >

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