Zuzo, I agree with XceptionalGreat, there are other figures you have not taken into consideration.
On the loan amount in the first year there is a charge. I think for me, my car in 2008 was Qrs.93,000.00 i had to pay Qr.2,500/- straight off which was included in the bank loan, Also there is insurance charge on the bank loan.
I took the loan from HSBC, when I checked my emi i found that a little less than half of my emi was towards bank charges.
Also, another think is that these private companies that provide a lease to own are in business so of course their charges are going to include their profit.
So, if you take a bank loan, it will be cheaper. Also, get a bank vehicle loan rep. to work out what it will cost you to buy a vehicle via their bank. All banks have various hidden charges.
Zuzo, I agree with XceptionalGreat, there are other figures you have not taken into consideration.
On the loan amount in the first year there is a charge. I think for me, my car in 2008 was Qrs.93,000.00 i had to pay Qr.2,500/- straight off which was included in the bank loan, Also there is insurance charge on the bank loan.
I took the loan from HSBC, when I checked my emi i found that a little less than half of my emi was towards bank charges.
Also, another think is that these private companies that provide a lease to own are in business so of course their charges are going to include their profit.
So, if you take a bank loan, it will be cheaper. Also, get a bank vehicle loan rep. to work out what it will cost you to buy a vehicle via their bank. All banks have various hidden charges.
All the best.