Buying a car is one of the most important investment decision in your life, second only to property investment. Heed the advice in this article by CarSwitch experts to get the best deal and hopefully, minimize the stress involved in purchasing a car in Dubai, UAE.
- Research, Research, Research! When it comes to the car you want to buy, there is no such thing as too much information so have the price and specs on your fingertips. Try to find the ‘invoice’ price of the car rather than the MSRP to gain more bargaining power. A useful tip: use online car buying sites for your research too.
- Consider your finances/financing options: Stay within your means and buy a car you can afford. Don’t default to getting financing through the dealer’s partner bank. Shop around. To negotiate a lower interest rate with a dealer, use a quote you have already obtained from a financial institution as leverage. And remember, if you intend to trade-in, first negotiate the best deal and then mention financing.
- Shop around: Check out different dealers, not just the car dealers in Dubai, UAE, unless you are pressed for time that is. Dealerships price cars differently depending on Emirate, for example, dealer pricing in Abu Dhabi and Dubai might differ considerably. You can get an even better deal by buying cars imported from Oman. These are still GCC spec cars but since they are routed through Oman they could be 10-15% cheaper. However, watch out, because UAE dealers tend not to honor the warranty on these cars.
- Work out the terms: Negotiate a car loan or try to bring the purchase price down. Don’t feel bad about walking away from an offer if you are not entirely comfortable with it. Always negotiate based on purchase price rather than monthly payments. Beware hidden costs like surcharges, delivery, and dealership costs too.
- Take it for a spin: When buying a car from used car showrooms in Dubai, UAE, make sure it’s inspected by a mechanic and certified. Take it for a test drive, check comfort, noise, view, controls, handling, and brakes.
- Factor in insurance costs: Car insurance is a major part of the overall cost of a vehicle so make sure you factor that in the purchase price. The simplest way is to get car insurance quotes online. ServiceMarket can help in that regard.
- Beware the extra costs: Don’t purchase an extended warranty or add-ons offered by the dealer. Extended warranties are typically expensive and provide quite limited coverage. In most cases, manufacturer’s warranty should be enough. Also, keep add-ons (e.g. Navigation) to a minimum.
- Avoid impulse buying: Buying a car on a whim can turn out to be risky so make sure you heed our first advice and carry out extensive research. If you don’t, you might realize later on that you can’t afford the car or the performance doesn’t meet your expectations. It would be wise to consider all aspects of the investment beforehand.
- Consider both new and used cars: Compared to used cars in Dubai, UAE, new cars depreciate considerably the moment they are driven out of a dealership. Make sure you go into the buying process with an open mind. Run the numbers for both new and used cars before you buy any car from car markets in Dubai.
Once you educate yourself bearing these pointers in mind, you can go into negotiations well-prepared and get the best possible deal on a new or used car in Dubai, UAE. Or you can simply skip all that hassle and buy a used car from CarSwitch. Good luck either way!
