Car Monthly Installment Without a Bank in the UAE
Yes, you can pay for a car in monthly installments in the UAE without going to a bank. It is called rent-to-own: a company buys the car, you pay part of the car price at the start, then you pay a fixed monthly amount for 24 or 36 months, and at the end the car is transferred to your name.
How a car installment without a bank works
A bank car loan is credit. The bank checks your salary, your salary transfer and your file at the credit bureau (AECB). If one of those is missing, the file usually stops there.
Rent-to-own is a different kind of contract. There is no lender. DriveToOwn buys the car you pick and you use it under a rental agreement with a transfer of ownership at the end. Because it is not a loan, there is no salary certificate, no salary transfer condition and no AECB check.
The term is 24 or 36 months, depending on the car. During the term the car is registered to the owning company. At the end of the term it is transferred to you, exactly as written in the contract.
You sign with Carborn Car Rental L.L.C, Dubai trade licence 1144437. The cars on our list are our own stock, not cars from a third party.
What you pay: a payment at the start, then one monthly amount
There is a payment at the start. This is important, so read it twice. We buy the car you choose, and you pay a part of the car price at the start. That payment is what buys the car. It is not a deposit, and there is nothing else added on top of it.
The size of that starting payment is different for every car, because every car has a different price. It is shown next to each car on our website together with the monthly payment and the term.
After that, you pay one fixed amount every month. On most plans, insurance and the agreed servicing are already inside that monthly payment. Fines and Salik are paid by you, the driver.
There is no deposit on top, no arrangement fee and no hidden charge. There is also no balloon payment and no final lump sum. The last monthly payment is the last payment you make. Then the car moves to your name.
We do not publish prices in articles because stock moves and the numbers change. The current cars, the current monthly payments, the current starting payments and the term for each car are all on drivetoown.me.
Documents you need
The list is short:
- Emirates ID, or a passport with a valid UAE visa
- A UAE driving licence
- A security cheque
No salary certificate. No bank statement requirement from an employer. No AECB report.
We still review every application and we do not approve everyone. Nobody should promise you approval before looking at your case. What we can say is which papers we ask for, and that list above is the whole list.
Bank loan or rent-to-own: a plain comparison
| Point | Bank car loan | DriveToOwn plan |
|---|---|---|
| Salary certificate | Usually required | Not required |
| Salary transfer to the bank | Often required for the best rate | Not required |
| Credit bureau (AECB) check | Yes | Not checked |
| Self-employed on a trade licence | Possible, but the file is heavy | Common case |
| Money at the start | Down payment, usually a set percentage | Part of the car price, different per car, shown on the site |
| Term | Often up to 60 months | 24 or 36 months |
| Insurance and servicing | You pay separately | Inside the monthly payment on most plans |
| Final lump sum | Some loans have a balloon | None |
| Total cost | Usually the cheaper option if you qualify | Usually costs more than a bank loan |
Read the last row again. If you have a stable salary, a salary transfer and a clean AECB file, a bank loan will most likely cost you less over the full term. In that case, go to the bank first. Rent-to-own makes sense when the bank says no, when you do not want to move your salary, when your income comes from a trade licence, or when you are new in the country and have no UAE credit history yet.
Who this fits, and what it cannot be used for
This usually fits:
- Self-employed people and business owners on a trade licence
- Salaried people without a salary transfer, or with a short contract
- People who arrived recently and have no AECB record
- People who want insurance and servicing in one fixed monthly number
One hard limit. A car on a private rent-to-own plan cannot be used for Uber or Careem in Dubai. Ride-hailing work needs commercial plates through a limousine company. If that is your plan, this is not the right product for you and you should not sign.
Second limit. The term is 24 or 36 months, not 60. A shorter term means a bigger monthly payment than a long bank loan on the same car. Check the number on the site against your monthly budget before you come in.
How to start
Open drivetoown.me and look at the current list. Every car shows its monthly payment, its starting payment and its term of 24 or 36 months. Pick the car that fits your budget.
Then come to the showroom and see it. We are at Midtown Central, Majan, Shop 28, Dubai, open every day from 10am to 8pm. Bring your Emirates ID or passport with a valid UAE visa and your UAE driving licence.
Read the contract before you sign. Check the term, the monthly amount, what the insurance covers, what servicing is included and the transfer clause at the end. Ask us anything that is not clear.
Questions people ask
Is this a car loan? +
Do I pay anything at the start? +
Is there a final big payment at the end? +
Will you check my credit file at AECB? +
Can I use the car for Uber or Careem? +
Who pays for fines, Salik, insurance and servicing? +
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.