How To Ace Buying Cars in Dubai?
For people living in Dubai as a citizen or as an expat, owning a vehicle seems to be a logical choice. Dubai is known for its cars and the rich influx of extravaganza. Since buying a car in Dubai is cheaper as compared to other countries, it entices people to buy cars in Dubai both as a status symbol and as a necessity.
Status Symbol or a Necessity?
Dubai has a good public transportation sector, but even that doesn’t cover all the nooks and the corners of the city. For this reason buying cars in Dubai is a necessity but that doesn’t mean the city is afraid to show off its immense wealth. Dubai is home to a lot of super rich people for whom buying cars is a hobby, especially expensive supercars. Hence, buying cars in Dubai is both, a need and a status symbol.
A necessity for those who commute to work and a status symbol for those who wish to keep themselves acquainted with the latest models of the cars. Plus with the heat in the middle east, who wouldn’t want to travel in the comfort of a car.
What Makes Buying Cars in Dubai Viable?
Buying a car in Dubai is favored because of a variety of reasons, those are:
- Low taxes
- Cheap oil
- Easy car financing options
Due to such variables, buying a car is preferred upon. There are showrooms and dealerships of all the major auto companies, and a lot of cars are launched beforehand to cater to the UAE and the GCC market. This has lead to unprecendented growth in the buying of cars that has made Dubai famous for its supercars. Thus, started the car tourism as well.
RTA Requirements For Buying
The rules to buy a car, whether new or used are governed and made by Dubai’s RTA. Since law breakers are dealt with prejudice in Dubai, it is necessary to be on the right side of the Dubai Police and their supercars. These are some basic requirements for buying cars in Dubai:
- For the purchase of a car, it is necessary to have a residence visa for the UAE
- A valid driver’s license is required to buy a car, but car can’t be bought with driver’s license provided proper permission has been taken from the Dubai Police
- Valid residence proof of living in the UAE
- Salary certificate
- No objections certificate from employer(might be asked for in certain cases)
If buying a used car, some more requirements are needed to check as well and fulfill. Those are:
- The buyer has to pay for the registration of the car and the car’s RTA test certification
- The car should not have any outstanding dues
- Car’s seller and buyer both have to be present in the RTA office for transfer
- The insurance has to be checked since the transfer of insurance only takes place if the car insurance policy has 7 or more months left. In case you need insurance, you can find a suitable one in this list of comprehensive insurance providers or if your insurance policy is not getting approved and are puzzled, here are four reasons you are unable to get insurance.
Processes Involved in Buying New Car in Dubai
Most of the cars sold around the world can be found in Dubai, whether it is a budget car or a supercar, the Dubai’s car dealers have them all. Cars are a coveted item in Dubai and dealers take pride in providing all kinds of cars in Dubai.
A lot of time, the dealer may have a set system to help the prospective new owner with financing options. But it is a good idea to check with your bank first regarding loans. The inclusion of service warranty and car insurance for a year can be asked from the dealer and depends upon the impending discussion with the dealer.
However, it is important to know that the depreciation rate for cars in Dubai can be up to 30 percent.
If you want to buy a budget car, here is a list of 10 budget cars you can use.
Processes Involved in Buying Used Car in Dubai
The used car business is a thriving industry as well with a lot of people choosing to buy a second-hand car since sometimes goof cars can be found in the used car market. Buying used cars in Dubai however, comes with its set of rules and regulations that have to be kept in mind. The high expat turnover in Dubai and the small window of time in which many choose to leave have inspired a large second-hand car culture in the emirate.
It is important for both the owner and the buyer to be present for the transfer of documents and ownership in RTA documents. Also, RTA regulations regarding insurance and financing have to be kept in mind before buying a used car.
Dubai also has auction houses where used cars that have been impounded by the police or the bank are sold. That is a fantastic way to shop for supercars at low prices. Although, the intricacies of the trade have to be known before buying a car through an auction house.