UAE car leasing portal is intent on taking a different route

For Neos, has partnered with automakers and dealerships to offer the program across 50 plus models from Chevrolet, Volkswagen, Cadillac, BMW, GMC, Audi and Mercedes. The platform currently manages a fleet of over 3,500 cars, with an asset value of $500 million. In the next 12 months, the portal aims to add more 5,000 cars.

“We are moving towards creating an alternate ecosystem for vehicle ownership via on demand digital leasing and subscription at zero cost of ownership,” said Soham Shah, CEO, “Millennials are shifting towards a subscription economy that helps them to maintain their finances.”

“As OTT platforms keep attracting the younger generation, they have realized the feasibility of having on-demand-services and in many ways compared to it with car ownership and its liabilities, making it easier for them to subscribe to vehicles as well. We intend to simplify the process for them further and offer a seamless experience.”

The car rental platform gives customers access to over 20,000 vehicles at 100+ locations across the region. Users can go for express booking (daily and weekly), micro lease (one-to 12 months) and LeasePro (lease-to-own) with zero-mileage cars direct from the dealership from one- to three years.

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