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Rental Car Rates
Another rant about rental car rates....and I don't even rent...I own.
I just saw a post for a 2007 Toyota Yaris renting at QR 2,500 per month. Are you kidding me? That's 684.93 USD per month.
Let's break this down. The total five year cost of ownership for a 2007 Yaris is $22,901. That includes the cost of the vehicle, financing costs, depreciation, insurance, fuel (at US prices, so it would be less in Doha, maintenance, etc.).
Source: http://www.intellich....
Compare that to the above Doha rental rate of $684.93 x 60 months, for a total five year cost of $41,095.80. This gives the rental company a total profit of $18,194. Not bad money for doing NOTHING AT ALL.
Sure, it might be inconvenient to have to sell my vehicle when I decide to leave the country, but it's worth it to keep the $18K in my pocket!
I also find the rate of increase very interesting. When I moved her about 18 months ago, you could find a Sunny for 1600 or 1700....but now, they're being posted in the 2400 to 2600 range. What gives????
End Rant.
Cheers,
Stacey
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jackmohan2007 said
Stacey London....Rates for Yaris & Nissan Sunny... ...Stacey London....Rates inclusive of full Insurance and registration for:
Toyota Yaris 1.3litres...QR 850 per month for 5yrs
Nissan Sunny 1.5 Litres...QR 916 per month for 5yrs
then the car belongs to you ....and the only cost is for Maintenance & Insurance!!!
Before leaving Qatar for good you can resell the car for (say after 5yrs) QR 25,000 to 30,000!!!
Renting is an option if you stay here for around a year or two.
Also Check out the following thread:
http://www.qatarlivi...
Morpheous said
There is no law to control this.. ...Surprising figures ... I would really like to know what are the parameters which are making these rentals increase..
Mandilulur said
Thank you. Interesting and ...Thank you. Interesting and informative calculations.
Mandi
sameerah said
What to do!!! ...if nobody will take this high prices...price will surely decline... but what to do. too much people are grabbing this... i dnt know, maybe they have too much salary that's why they are just taking it...
Fatcat said
Your calculations are ...Your calculations are misleading. The QR2500 is definetely a monthly rate. If you ask them for a 5 year contract will be A LOT cheaper.
Renting suits some people whilst buying suits others. Each to their own.
Stacey London said
Fatcat, the discount that ...Fatcat, the discount that they offer for renting on contract vs. month-to-month usually yields only negligible discounts. In any quotations that I was offered, the monthly discount was only about QR 200 or 300 if I signed on for a one or two year contract. I did not see what the discount was for 5 year contracts, but it may have been higher. I suspect it couldn't have been much higher than a discount of QR 500 per month off the original price, which would still leave them a very healthy margin, if you check my original calculations.
But that begs the question -- who would have a five year employment contract and would have the need for a rental car for five years? And would you be comfortable locking yourself into a five year contract with ANY company in Doha? If so, you're a much more trusting soul than I!!!
I don't believe my figures are misleading -- they clearly demonstrate that the pricing structure being imposed by some of the rental companies is excessive and does not tie to the actual cost of ownership. There ARE however, still companies out there which ARE offering rentals at reasonable rates. For new people arriving in the country, it's important for them to see what kind of pricing is reasonable, and when they are getting fleeced!
Cheers,
Stacey
CarLove said
Honda Accord VS Toyota Yaris ...You can buy a Honda Accord Full option for that monthly installment.
I sell Honda cars & assist my customers to dispose their cars if they are moving out of Qatar.
Please call 66 72 4 71 if you need to know more.
Regards,
PREM.
Dracula said
http://www.carcompla... . ...http://www.carcompla...
.
UkEngQatar said
It Ok to rent until you get in an accident ...Then that QR2500 p/m may turn into QR5000 p/m.
As the hirer of the car has to pay for part of the damage and the rental rate for each day it is out of businness. Solution for this is to not rent from small companies. Rent only from those companies that offer you damage wavier.
Talking from experience..
-----------------
HE WHO DARES WINS
Fatcat said
Stacey, I will have to ...Stacey, I will have to disagree. I rented a car and their monthly rates were QR1950. Their six month rates were QR1500 and their yearly rates were QR1200. As you can see, this is a 40% discount on the monthly rates.
Each to their own, if you think it's better to buy then go for it.
Fatcat said
UkEngQatar, I was involved ...UkEngQatar, I was involved in an accident and had to pay only the excess of QR1200.
tara_thesouther... said
We have been looking around ...We have been looking around for rental cars and for an suv they wanted 6000 QR. We went numb with that quote what do you folks recommend is the best 7 seater to buy in Qatar?