Purchasing and selling cars is a multi-billion dollar business in the United Arab Emirates, where wealthy locals desire ultra-luxury. Unlike in the North America, where the average life of a car is 12 years, or the UK where it is 7 years, here it is between 5 years due mainly to the parched climate. Add in latest, well-maintained road infrastructure, flattering gasoline prices, and a high ratio of cars per household and you have a strong car culture.
Sheikh Zayed Road, the 8-lane highway that serves as the main traffic routes, is lined with car dealerships for every nearly for everyone taste. Dubai’s police force even has a armada of supercars – including a Aston Martin, McLaren, Bentley and Mercedes.
There is a division of merchants who buy and sell used cars as a business. Many of these entrepreneurs worked as salesman for big dealerships and cut their teeth going to car auctions..
Selling and buying is quite an easy process in Dubai. Unlike it takes around two to three days to sell a car but in Dubai agent bring the government-approved sales contract to sign and the balance in cash. Selling generally requires simply copies of agent and seller national ID cards and driver’s license, which will be needed by the Roads and Transit Authority (RTA) for the inspection and transfer. Within four hours, the car is no longer registered in seller’s name. Car maker also helps to sell and own a car to maintain their brand value particularly Toyota. Toyota always helps its customer to sell and own car to maintain its brand vale.
You won’t see many aged cars on Dubai’s roads. The UAE bans cars older than 15 years and banned owners of vehicles older than 10 years from transferring ownership in the UAE, although they can revamp the registration. When the cars are very old for the local market, they often get transferred to northern Africa, where they are driven for many more years.
Dubai is overall a competitive market for trading in new or used cars. Many expats tend to export their Dubai-registered cars to their respective countries, whether during their annual vacation or when they leave Dubai for good, giving a sizeable boost to the sale and export of cars at the level of individuals and dealers alike.
