Pocketful of Dirhams: How to cut the cost of running a car in the UAE

There are a number of ways to reduce how much you spend on your vehicle

Running a car in the UAE can be an expensive process, once you factor in petrol, maintenance, repairs and insurance. But there are a number of ways to cut costs.

One rule of thumb includes limiting payments on a car loan to 10 per cent of your monthly income to ensure your total costs for all car expenses stays below 20 per cent of your earnings. Another tip is to replace your car if repair costs are too high, while some question whether you need a car at all?

So how can we ensure that running a car does not break the bank? And should we rent, buy or take taxis?

Host Alice Haine, the personal finance editor of The National, is joined by Louise Burke, a home page editor at The National, and Imad Hammad, the co-founder of CarSwitch.com, a second-hand car platform in the UAE.

She is also joined later in the show by Philip Bahoshy, the founder of start-up data platform Magnitt, who decided the most cost-effective option was to ditch his car altogether.

Take a look at last week's episode for tips on how to invest in the UK property market