Buying a car is one of the most important investments one makes. It is important to do background research before investing in a car to ensure that it retains its value. CarSwitch.com, an online marketplace to sell any car in UAE, did some research to share the details with you.
Used cars that retain the most value in the UAE
Value retention is important because it determines the price of your car in case you decide to sell it. A car that does not retain its value can make you incur losses; while cars that retain their value can even help you make profit. Therefore, it is important to do your homework before buying a car. You must not only consider the impressive exterior and specs, you should also look into how well it retains its value.
According to an extensive study carried out by CarSwitch.com, it was found that a new car depreciates by more than Dh20, 000 as soon as you bring it home after buying it.
What are the top 5 cars that retain the most value in UAE?
CarSwitch.com compiled data from 2,500 sellers on the platform to determine the value of a vehicle in the following stages: when it is brand new, the present date, and according to the model and the price it is being sold for. This data helped unveil how each model depreciated on average.
The cars that maintained best value are the following five:
- Nissan Patrol
- Honda Accord
- Ford Edge
- Toyota Camry
- Toyota Land Cruiser
When CarSwitch.com did their research regarding depreciation of cars it found that depreciation of cars is more prominent in UAE than compared to other countries. This is mainly because people in UAE drive their new cars on average for a period of five years and then they move on to other cars. In regions such as the UK and USA, people tend to drive their cars for a longer period of time, approximately somewhere between 10 to 15 years.
It was also unveiled that depreciation value of each car depends upon brands as well. A vehicle’s value can go down by somewhere between 30 to 50 percent in a period of three years depending upon its brand.
Which SUV holds the most value in the UAE?
Buyers and sellers are in mutual consensus that Japanese brands tend to depreciate much more slowly when compared with other brands. The cars that made it to top 10 on the list of those who retained their value for the longest time were Japanese brands mostly, including Nissan Patrol LE Platinum on the top, was able to retain 75 percent of its initial worth. This is an astonishing figure.
It is also noteworthy that no cars of German make it to the top 10 list compiled by CarSwitch.com. Moreover, the only American brand to secure a place in this list is Ford Edge, this model retained about 65-70 percent of its initial worth. Hop onto CarSwitch.com if you want to buy or sell any car in UAE. We provide a transparent and hassle-free selling and buying experience. Happy Shopping!