Leasing gains ground among high-income UAE residents

DUBAI: The findings of a recent survey conducted by Audi Abu Dhabi and Al Ain shed light on a noticeable inclination towards leasing options among consumers, with 85 per cent of respondents being familiar with leasing as a method of vehicle ownership.

This trend is particularly prominent among individuals in higher income brackets, with 97 per cent of those earning above AED 40,000 per month showing interest in leasing, often viewing it as a suitable solution for their short-term requirements.

Various factors influence respondents’ decisions in favor of leasing. Among these, 16 per cent choose leasing due to their short-term usage needs, 20 per cent value the financial flexibility it offers when exploring high-end EVs and luxury vehicles, and 21 per cent prefer leasing to avoid hefty down payments and benefit from fixed monthly payments, thus alleviating concerns about fluctuating interest rates.

Key target audience

Despite the growing interest in leasing, 57 per cent of respondents still prefer traditional car ownership, citing advantages such as long-term ownership benefits and the potential to sell the vehicle later on. A quarter of respondents also believe they can secure a good resale value for their cars, making ownership a more appealing choice for them.

Scott Shears, General Manager of Audi Abu Dhabi and Al Ain, said the shifting preferences of car buyers in the evolving automotive industry.

He emphasised leasing as a means for customers to enjoy the latest automotive technology without the burdens of high upfront costs and extended commitments associated with ownership.

The survey reveals that the high-income demographic is a key target audience for premium brands’ leasing programs, which aim to deliver flexibility and convenience to more individuals interested in experiencing the luxury of driving an Audi.

To meet the growing demand for leasing options, Audi Abu Dhabi and Al Ain have introduced enticing leasing offers on various models, including premium electric vehicles like the Audi Q8 e-tron and e-tron GT, along with the Audi A5 and Q5 models.