Blog home >How Lease to Own Works: A Smart Alternative for Car Ownership in Saudi Arabia

Technology

3 min read

How Lease to Own Works: A Smart Alternative for Car Ownership in Saudi Arabia

Last Updated On Thu Jun 20 2024

Becoming a car owner is an important milestone for many people, and it should be: having your vehicle gives you flexibility and freedom. In Saudi Arabia, there are many ownership options available, but they also present some challenges for customers. Enter the lease-to-own model, a simpler process that provides a viable path to car ownership in the Kingdom.

What is Lease to Own? Understanding the Concept

Lease-to-own, or rent-to-own, is a financing arrangement where you lease a vehicle with the option to purchase it at the end of the lease period. This model allows you to drive the car while making monthly payments, with the choice to buy it outright after the lease term concludes.

How Does Lease to Own Work?

The process is extremely simple:

  1. Sign the Lease Agreement: Begin by signing a lease agreement with terms that outline the monthly payment amount, lease duration, and purchase option details at the end of the contract.

  2. Make Monthly Payments: Pay a predetermined monthly amount, which covers the cost of using the vehicle, maintenance, insurance, and roadside assistance. These payments are often lower than traditional loan payments.

  3. Option to Purchase: At the end of the lease period, you have the option to purchase the vehicle by paying the remaining balance or a pre-agreed buyout price.

Advantages of Lease to Own

Opting for a lease-to-own agreement offers several benefits:

  1. No Large Upfront Cost: Unlike traditional purchasing, you don’t need to make a significant down payment, just a small starter fee.

  2. Easier Qualification: Lease-to-own agreements typically have more lenient qualification criteria than traditional car loans, not requesting salary certificates, guarantors, or credit checks.

  3. Try Before You Buy: Experience the vehicle before committing to full ownership, ensuring it meets your needs and expectations.

invygo's Lease-to-Own Solution in Saudi Arabia

At invygo, the leading car subscription platform in Saudi Arabia, you get a seamless lease-to-own service, which was designed to cater to various financial and lifestyle needs.

The process is straightforward and customer-centric:

  • Flexible Plans: invygo provides tailored lease-to-own plans that accommodate different budgets and preferences.

  • Quality Assurance: Vehicles available through invygo are thoroughly inspected, dealer-certified vehicles, ensuring you get a reliable car.

  • Transparent Process: invygo ensures a clear and transparent leasing process, with all terms and conditions explicitly outlined.

  • Maintenance and insurance covered: the monthly payment fee covers maintenance, insurance, and roadside assistance.

Conclusion: Is Lease-to-Own Right for You?

Lease-to-own is a simpler process towards ownership, especially for those looking for flexibility and convenience. Invygo’s Subscribe to Own Plan is the best option in Saudi Arabia for those looking for a lease-to-own car that fits specific needs and budget.

Similar Content

How to Find the Best Deals on Cars in Riyadh: A Buyer’s Guide

Cars

5 min read

How to Find the Best Deals on Cars in Riyadh: A Buyer’s Guide

SUVs vs. Sedans: What’s the Best Choice for Saudi Drivers?

Cars

5 min read

SUVs vs. Sedans: What’s the Best Choice for Saudi Drivers?

Car Maintenance Tips for the Saudi Climate

Cars

5 min read

Car Maintenance Tips for the Saudi Climate