Starting Out Purchasing your dream car is easier than you think

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For young adults, purchasing a car might seem like a challenging goal. However, with a strategic approach to saving and planning, owning your dream vehicle can become a reality.


*Figures are for illustrative purposes only.


  • Step 1: Identify the price of your dream vehicle - first determine the cost of the car you wish to purchase. For example, if your dream car costs AED 120,000, this will be your target.
  • Step 2: Set aside monthly savings for your down payment - to make the car more affordable, you need to save for a down payment. You may decide to set aside AED 2,000 per month over the period of six months. This disciplined saving approach helps you accumulate AED 12,000, which is 10% of the total car cost.
  • Step 3: Identify how much you can save from your monthly budget - analyze your monthly budget to see how much you can allocate towards your car savings. If you can save AED 2,000 per month, as suggested, you’ll reach your down payment goal within six months.
  • Step 4: Calculate your monthly car payments - once you have saved for the down payment, use an online loan calculator to determine your monthly car payments. For instance, if you need to finance AED 108,000 (the remaining 90% of the car cost), and the interest rate is 3.50%, your monthly payment over three years would be approximately AED 3,165.
  • Step 5: Reach your goal - by following these steps, you can systematically save and plan for your dream car. Start with identifying the car's cost, saving for the down payment, and then calculating the monthly loan payments. This process makes purchasing your dream car achievable and less daunting.

Additional Tips

  1. Create a savings plan
    Automate your savings to ensure consistency.
  2. Stick to your budget
    Avoid unnecessary expenses to stay on track.
  3. Shop for best loan rates
    Compare different loan offers to get the best interest rate.

Purchasing a dream car is within reach with careful planning and disciplined savings. This step-by-step guide provides a practical approach to achieving your goal. By following these, you can enjoy the freedom and convenience of owning your dream car in no time.

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