Lease to Own a Car in the UAE Without a Bank
If a bank will not finance you, or you do not want a bank involved, the practical route in the UAE is rent-to-own directly with a car company. DriveToOwn in Dubai does this on a 24 or 36 month term, with no bank, no salary certificate and no credit bureau check, and the car is transferred to you after the last monthly payment.
What "lease to own without a bank" means
A normal car loan goes through a bank. The bank checks your salary, your employer, your salary transfer and your AECB credit report. If any of those do not fit, the file stops there. That is why many self-employed people on a trade licence, people paid without a salary transfer, and people who arrived in the UAE a few months ago cannot get a car loan.
Rent-to-own works differently. You sign with a car company, not a bank. You pay monthly for an agreed number of months. At the end of the term the car is transferred into your name, as written in the contract. There is no bank in the middle, so there is no AECB check and no salary certificate.
With DriveToOwn the term is 24 or 36 months, depending on the car. Each car on the site shows its own term and its own monthly payment.
There is a payment at the start, and this is what it is
This part needs to be clear before you read anything else. We buy the car you pick, and you pay a part of the car price at the start. That starting payment is the money that buys the car. It is not a deposit, and there is nothing else on top of it.
The size of that payment is different for every car, so it is not printed in this article. It is shown with the current list of cars on our website, next to the monthly payment and the term. Prices and stock change as cars move, so the site is the only correct source.
After the starting payment there is no deposit and no hidden fee. And there is no balloon payment at the end. The last monthly payment is the last payment you make. Then the car is transferred to you.
Documents you need
The list is short, and it is the whole list.
- Emirates ID, or a passport with a valid UAE visa
- A UAE driving licence
- A security cheque
No salary certificate. No bank statements for a bank. No AECB report. We look at the car, the term and your ability to keep the monthly payment going.
We do not promise approval. Every file is looked at, and some files do not work out. If yours does not, we will tell you rather than keep you waiting.
What is inside the monthly payment
On most plans, insurance and the agreed servicing are already inside the monthly payment. So the amount you see on the site is the amount that leaves your account.
Two things are not included and are paid by the driver: traffic fines and Salik. Fuel is yours as well, which is normal for any car.
During the term the car is registered to the owning company. That is how the structure works. At the end of the term it transfers to you, as stated in the contract. The cars on our site are our own stock, and you sign with Carborn Car Rental L.L.C, licensed in Dubai under trade licence 1144437.
Bank loan or rent-to-own: which is cheaper
Straight answer: if you qualify for a bank car loan, the bank is usually the cheaper way to buy a car over the full term. Rent-to-own exists for people who cannot get that loan, or who do not want to hand a bank a salary transfer and a credit file. Compare both before you decide.
| Bank car loan | Rent-to-own with DriveToOwn | |
|---|---|---|
| Who approves it | Bank credit department | The car company, in Dubai |
| Salary certificate | Usually required | Not required |
| AECB credit check | Yes | Not checked |
| Salary transfer | Often required for the best rate | Not required |
| Payment at the start | Down payment to the bank or dealer | Yes, a part of the car price, shown per car on the site |
| Insurance and servicing | Usually paid separately | Inside the monthly payment on most plans |
| Term | Often up to 5 years | 24 or 36 months |
| Final lump sum | Sometimes, on balloon plans | None |
| Total cost | Usually lower if you qualify | Higher than a bank rate, and open to files a bank refuses |
Who this does not suit
It is better to know the limits now than after you sign.
- Uber and Careem drivers. A car on a private rent-to-own plan cannot be used for ride-hailing in Dubai. Ride-hailing needs commercial plates arranged through a limousine company. If that is your plan, this is not the product for you.
- People who qualify easily for a bank loan. Check the bank first. If the rate works for you, take it.
- People with no money available at the start. There is a payment at the start, and it cannot be skipped.
- People who want a car for a few months only. The term is 24 or 36 months. A normal rental is the better fit for a short period.
How to start
Open our website and look at the current list. Each car shows its monthly payment, its term and the payment needed at the start. Pick the cars that fit your budget, then send us the models you are considering on WhatsApp and we will confirm what is in stock and what the next step is.
You can also come to the showroom and see the cars. We are at Midtown Central, Majan, Shop 28, Dubai, open every day from 10am to 8pm. WhatsApp is +971585276277 and the site is drivetoown.me.
Write to us on WhatsApp and tell us which car you are looking at.
Questions people ask
Can I really get a car in the UAE with no bank involved? +
How much do I pay at the start? +
Is there a balloon or final payment at the end? +
Do I own the car during the term? +
Can I use the car for Uber or Careem? +
What if I am self-employed on a trade licence? +
Read next
- Rent to own a car in Dubai with no down payment: what it really costs
- How to get a car in Dubai without a bank loan
- Rent to own a car in Dubai if you are self-employed
- Rent to own or a bank car loan in Dubai: which is cheaper
- All 8 cars available now
DriveToOwn, Carborn Car Rental L.L.C, Dubai trade licence 1144437. Midtown Central, Majan, Shop 28, Dubai.