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Should You Buy or Rent A Car? The Right Choice

In today’s hedonistic world that endorses the most unsustainable form of hustle culture and pressures its people to seek material wealth instead of happiness. It seems that the moment someone secures a high-paying job, they are expected to make a life-altering investment—either in the house, in the stock market, or a car. While buying a home has become extremely difficult in the last decade. With its intangible results, investing in the stock market rarely provides a sense of achievement to the youth. So, most of the time, purchasing a car is justified because it gives the owner a sense of self-reliance and becomes symbolic of their status.

However, what usually happens is that individuals do not conduct thorough research regarding the pros and cons before making such a big purchase. Buying a car requires a considerable investment and regular maintenance. One can easily find themselves stuck in a debt trap if one fails to make proper arrangements for such expenses.

Thus, to stop individuals from making hasty decisions regarding such a huge purchase, this article suggests rational alternatives to buying a car. It includes looking for a Dubai car rental company, where the options are plenty and affordable.

Why Is Purchasing A Car A Bigger Investment Than It Seems?

Buying a car is not a one-time investment:

●      Before the purchase, one needs to make arrangements for the required funds. If one takes a car loan, they’ll be burdened with the EMI.

●      Arrangements for the post-purchase costs, such as car insurance and the cost of fuel, will also need to be made. Sometimes, one may need to consider the cost of hiring a driver.

●      The annual maintenance cost of a car is also high, owing to its depreciation.

If one lives in a city where parking and garage facilities are expensive, then the daily average cost of owning a car automatically goes up. Driving a car is also mentally draining because of the number of road accidents that take place daily. For this reason, one should have a good insurance policy, the cost of which is generally higher than the average one.

When Should You Rent A Car Instead Of Buying (and When You Shouldn’t)

Suppose you feel that making arrangements for all the above expenditures would feel like a burden. In that case, it is advised that you should rent a car instead of buying it, especially if pre-existing educational and personal loans already encumber you.

Then the question arises- when should you buy a car? You can go for it if you can access all the required resources to finance a car. Moreover, if you are looking for a specific vehicle with a definite set of features, you may not get that from rental companies. In such cases, buying a car may be the right choice for you.

To sum it up, whether one should buy a car or rent one depends on the resources at their disposal, the timeframe for which the vehicle will be used, and personal biases. Look for a rent a car near me and choose from the wide selection.