Saudi Arabia is one of the fastest developing countries in the Middle East. The country has experienced an enormous amount of growth in past few decades and has become one of the major names in the international oil market. It is also a sacred place of Muslims and is visited by Muslim devotees from all around the world. Every year, millions of devotees from every corner of the world visit this sacred land to perform the religious ritual known as Hajj.
The industrial and corporate sectors in the country are also growing at a rapid rate. Millions of foreign companies and organizations have already set up their businesses there and the number keeps on increasing everyday. The Government of the Saudi Arabia has also taken necessary steps to make sure that foreign delegates, business travelers and tourists are able to access the country easily, by maintaining proper transportation services. The country has a number of vehicle leasing companies who can provide you a vehicle on lease to travel in the country.
Processes involved in vehicle leasing in Saudi Arabia
If you are an expatriate in Saudi Arabia and wish to buy your vehicle or lease it, you have to go through a prescribed process which is different from other countries. Only men are allowed to drive a vehicle, but the women can own a car and move around with a male driver or any male member of the family. In Saudi Arabia, vehicle leasing means that the leasing service provider will buy the car of your choice and give it on rent to you. You will have to pay the monthly rent for the car. When the contract ends, the ownership of the car can be transferred to the person upon settlement of all the dues and monthly rents. The financing of the car takes as little as 5 days if you have all the documents required. The finance period of the car is usually 5 years, after which you can own the car upon request.
Those interested people who wish to take the vehicle on lease will not even have to pay the down payment if their salary is linked with the vehicle lease provider. It is therefore not very tough to get the car on lease. However, if you are an expatriate, the rules may be different for you. If you are employed in a company which offers corporate leasing, the vehicle leasing becomes even easier for you as you do not have to go through an endless document process. Banks and financial companies of the country can provide vehicle leasing services to the residents and the expatriates. People who are not sure about their duration of the stay in Saudi Arabia can also rent all kinds of vehicles on daily, monthly and yearly basis.
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