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Buying a New Car as an Expat in Dubai

Purchasing a New Car in Dubai

Purchasing a New Car as an Expat in Dubai

The streets of Dubai are often witnessing numerous luxury and trendy cars. Right from real estate to cars, businesses are flourishing in the city. Therefore, people are investing in properties and vehicles.

The prices of cars in Dubai are still lower than in the US or UK, with the added benefit that UAE is an oil-rich country. This makes gasoline affordability a non-issue, which is why many people choose classier and supercars. Rather than a status symbol, owning a car in Dubai has become necessary for everyday commutation. The city has two Metro lines, and the public transport is convenient and doing good, but having your own vehicle gives you the freedom to roam around in any part of the city.

Documents required to buy a new car in Dubai

  • Valid driving license
  • UAE residence visa
  • Passport
  • Valid insurance documents

When a bank or a loan company finances your car, you need to submit a salary certificate or a letter from your company. Additionally, you also need to submit previous bank statements.

The right car for you

Interests, likes, and dislikes differ from person to person, so the automobile you wish to buy will vary. It may also change due to income level and living standards. However, the most popular cars seen in the streets of Dubai are 4x4s.

People generally love SUVs as these cars have high driving positions and are safe when it comes to a sudden unfortunate crash. They’re also great for driving on the dunes of the UAE, and they can provide a thrilling adventure. But it occupies more parking space, consumes more petrol, and requires a higher driving position.

On the other hand, when you buy a Sedan instead, they are more comfortable and contribute generously to Dubai’s flashy car culture. If you wish to purchase a regular car, you will get the option of going for something wild that you never imagined. And with some bit of extra cash, you get a range of options like Dodge Charger, Ford Mustang, a gorgeous Mercedes coupe, or Corvette.

Buying new care in Dubai

If you have decided to buy a new car, there are a few things that you need to consider. Have a look at them to make yourself prepared before you get yours.

Resale worth: A car’s reputation in the local market can significantly affect its resale value. Most expats often change their vehicle during their stay in Dubai, and therefore, it is an important consideration.

Big car companies like BMW, Porsche, Toyota, Honda, and Nissan tend to hold their price for a duration and resell for a modest fee. On the other hand, Hyundai and Kia can depreciate faster.

Beneficial deals: Plenty of Dubai dealers provide attractive promotional offers or something you were looking for. For example, it may include a service warranty period (that may consist of deals like three years or 100,000 km worth of servicing), insurance coverage for a year or more than that, and many more. So, to find the deal that best suits you, you need to look around a few dealers and then get one.

No harm to get a slightly older model: While you may want to buy the latest model car, it will be beneficial to purchase one with the slightly older version. Why? Because it can help you get some great deals as compared to the newer design.

You may look for a year older unsold version, especially when a new model is about to be released. Generally, dealers would look for selling off their old stock to restock with the latest offerings. Therefore, when you get a slightly older model, you may get some great deals out of it.

Financing your car: Buying a car needs some financial planning, and therefore, many people save enough to pay its down payment. But if in case you decide to take a loan to buy your dream car, then you need to know that there are two types of loans. A bank loan means the bank owns the car until you complete your due amount, and you cannot sell it till then. The other one is a personal loan in which you own a car. The interest rate is higher and is obtained through some car dealership that works with a specific bank for financial help.

Wrap UP

Purchasing a new car frequently accompanies a ton of questions in mind. One generally gets confounded about whether to buy a new vehicle or proceed with the used or abandoned car. Settling on the ideal decision can be substantially more distressing. What ought to be the shade of the car? Who is the best vendor? Which vehicle has more resale esteem? What is the market pattern? And many other questions consistently bounce in.

In Dubai, having and operating a car is almost an unwritten law for foreigners. Practically all outdoor nationals own an automobile. To buy a car in Dubai, it is fundamental to have a residence visa. If you are thinking of buying without a driver’s license, you can visit the police station to explain your situation and get authorization.