A car is an asset of great value one can own today and he/she easily sells it off to acquire funds for an urgent financial challenge. When a car is bought from the Dubai car market, the car valuation decreases with time due to various new luxury cars produced that are valued highly. Other reasons may include: poor handling, not repairing faulty features and maintenance of the car. However, the entire responsibility of handling the car is not on the car owner alone, but also people who borrow it play a big role.
When someone borrows your car, you ought to be aware of the liability you as the owner are exposed to. Used car prices are very low compared to the price the car purchase was initially bought straight from the market or ordered online. This may be due to poor drivers who often times drive recklessly affecting the engine, car external body and not cleaning it among others. A Dubai car owner may lend his/her car to a careless driver who may run over a pedestrian on the road yet the owner takes responsibility since it’s his car. This is because the vehicle owner’s insurance is obliged to cater for all the damages in any kind of accident that the car may be involved.
Some areas limit the number of times a vehicle owner in sued for his car participating in an accident. if your family member borrows your car and violates rules or knocks someone using the car, its assumed that he/she had the owner’s consent unless u prove otherwise, you will be sued for that crime. Other areas have strict felony murder rule, that state if your car is used to committee murder by someone who borrowed it from you, the vehicle owner is totally answerable to the courts of law.
It’s not bad to let friends borrow your car, but please think twice of the consequences in case something bad happens to the vehicle caused by the person who borrowed it.
