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Dubai in the United Arab Emirates is known for the iconic Burj Khalifa, the palm-shaped man-made island of Palm Jumeirah, the gold cappuccino at Burj Al Arab, and a large foreign expatriate population that outnumbers Emiratis. Another striking thing about Dubai is how often you'll spot luxury cars driving down its streets.
One reason for this is the large inventory of used luxury cars in Dubai. They're quite reasonably priced, too, especially considering how fresh these cars look and how good a condition they're in.
Learn how to buy a car in the UAE. Read on to learn what you must do to buy a used luxury car.
Used Car or Brand New?
Your decision to buy a used or brand-new car hinges on your priorities.
Brand-new cars look and work the best. They have an untainted engine ready to give you peak performance, a warranty for issues, unblemished exteriors, and crisp leather interiors. They also have that intoxicating new-car smell.
However, brand-new cars, especially high-end ones, are expensive. They also lose up to 20% of their value within one year to depreciation.
Used luxury vehicles cost significantly less than their brand-new counterparts. When they're just a few or several years old, they provide great value. They should still be in excellent condition, but you can get them at a post-depreciation price.
Of course, buying used also means you assume some risks, particularly owner- or dealer-undisclosed issues. If this happens, you'll either pay for the expensive repairs (which will jack up your cost of ownership) or consider the money you've already spent a loss.
To Buy New or Used
Considering all of the above, should you buy used or brand new? If price is no object, you want no issues, and being the car's first owner matters to you, buy brand new.
If you want value for your money, it doesn't matter that you're not the first owner of the car, you know how and where to get repairs done (if you need them), and you have a trustworthy dealer, get the used car.
When Buying Used
Remember, due diligence can reduce the risk of buying a used car. Obtain the vehicle's maintenance records, as well as its accident and inspection reports.
It's easy enough to obtain such information. You can use a trusted vehicle identification number (VIN) search platform to generate a vehicle report on the car you wish to buy. Yes, you must pay for a history check and vehicle report. However, the cost to check the VIN is negligible when you consider how much money and trouble doing it can prevent. In particular, a vehicle report can steer you away from a bad deal on a lemon car.
Used high-end cars may cost less than they do brand new, but they're not cheap or inexpensive. Used, they still cost more money to buy than some brand-new regular vehicles. Due diligence is even more important when buying luxury cars.
How to Buy a Used Luxury Car in Dubai
You have two options: buy directly from the car owner or a dealer.
The former may offer better value because you can get the car at the seller's price. That price won't include the dealer's fees and margins.
However, the latter is a business with legal responsibilities, and they're much easier to hold accountable if they give you a bad deal. This chain of accountability can be more reassuring, especially since you're paying a substantial amount to buy your luxury vehicle.
1. Prepare for the purchase.
Once you have found your vehicle, make sure of the following:
- The vehicle registration is current.
- The vehicle insurance is up-to-date.
- The vehicle has been thoroughly inspected by government authorities for compliance with environmental and safety standards.
- The vehicle has no outstanding fines.
- You have conducted the necessary due diligence, including performing a VIN search and generating a vehicle history report.
- You and the seller have all the necessary paperwork to proceed with the vehicle ownership transfer.
The Documents You Need to Buy a Car in Dubai
Even before you start vehicle shopping, prepare the following documents. Without them, you won't be able to register vehicle ownership in your name.
- Your Emirates ID
- Your residence visa
- Passport
If you are part of a foreign government's diplomatic team, you must prepare the following:
- Your valid diplomatic card
- Your traffic file number
- A letter of approval obtained from the Ministry of Foreign Affairs
If your residence visa is sponsored by Oilfields Supply Center, you must get a no-objection certificate (NOC) from the company.
The Documents the Seller Needs to Present
Make sure the seller has all the necessary documents they are required to present for the ownership transfer. These documents include:
- Emirates ID
- Residence visa (if not a citizen)
- Passport
- Mulkiya or car registration card
- Car insurance certificate
- The certificate to prove the vehicle has undergone official inspection for environmental and safety compliance
- Proof of mortgage redemption or addition, if applicable
2. Proceed with the purchase.
If everything's in order on both your end and the seller's, gather all the necessary documents. Pay the seller the agreed-upon price and execute the sale agreement. Both of you must sign it, and you must get the agreement notarized.
Add thesigned and notarized sale agreement to the rest of the documents you've prepared beforehand.
3. Apply for ownership transfer.
Next, you and the seller (or your legal representatives) must go to a vehicle registration center and fill out the vehicle ownership transfer forms. Submit all the documents and pay the ownership transfer fees; you (the buyer) will pay the transfer fees.
4. Receive ownership.
Once you've paid the fees and submitted your documents, the transfer of ownership will be complete. You will get a receipt, vehicle ownership certificate, and expiry sticker. A new plate will also be provided if one was requested with your application.
You can now drive away with your new Ferrari or whatever luxury vehicle you purchased.
Get a Used Luxury Car in Dubai
Do you want a Bugatti, Mercedes-Benz, Lamborghini, Rolls-Royce, or Ferrari? Buy them used for a reasonable price in Dubai. Just make sure to exercise due diligence before you buy your luxury car.
References
https://www.mofa.gov.ae/en/the-uae/facts-and-figures
https://www.arabianbusiness.com/lifestyle/gourmet/404153-24-carat-gold-cappuccino-served-at-burj-al-arab
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