Car leasing in Riyadh

Last activity 10 June 2015 by skhurram007

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caashifMember04 June 2015 17:08:06

hay,
I am just one month old here in Riyadh. I need to lease a car but all companies need three months bank statement. I have all other documents. Is there anyway out for that because I can't wait till three months.

skhurram007Serial expat10 June 2015 06:10:27

410

- Check with your Bank. If your salary is being depositing in your bank, most probably they will give you a personal loan which you can utilize to purchase a car.

- Financially, it is also more feasible as leasing car companies generally charges from 10%-13% per year whereas banks will give you the money ranging from 1%-5.5% per year.

- On leasing, car will remain in the ownership of leasing company until you finishes complete payment. It's better to purchase a car as compared to leasing as you are free to sell your car anytime. Transferring a lease is most often painful, long and financially losing process.

HTH,

Khurram.

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