Owning a car is the second largest personal expense after buying home for us and our family. For buying a car, we tend to find some easier options in order to make the most of this expense and save bigger chunk of hard cash for rainy days. For saving more money, we have to take some cost-saving measures and if everything is planned and executed well, we can save more than our expectations.
The best way for saving cash for us while buying a car is auto loan. According to researches, out of 10 people, seven people prefer to buy a car through a bank loan in Dubai. The procedure is quick and simple as the lender purchases a car on your behalf from the market and makes a settlement with you. In this settlement, you pay back the money to the lender in installments and against it, you pay the service charges as interest to compensate the lender against his investment.