Buying a car is single-handedly one of the biggest financial decisions you will ever have to make! It’s almost as tough as investing in a property, so it is bound to involve quite a bit of research. Soon you will stumble upon the discovery that unlike houses that increase in value over time, cars drop in value fast. From the word go, that is the moment you drive a new car out of the showroom or used cars Dubai out of a dealer’s, it starts depreciating. That’s a shocker, right? More is yet to come!
CarSwitch experts have discovered that a new vehicle can lose as much as Dh 20,000 in value as soon as you drive it home. Indeed, out of the annual costs of car ownership, depreciation accounts for over sixty percent which is a huge chunk alright. Compared to that, fuel, maintenance, and car insurance only make a minor dent.
All’s not lost yet, folks! Knowing which cars retain the most value in the UAE can save you a lot of trouble if you are in the market for new or used cars Dubai, UAE. Using data from 2500 sellers and considering the average depreciation for vehicles of different models, CarSwitch experts came up with this handy top ten list of value-retentive cars.
- Nissan Patrol
- Honda Accord
- Ford Edge
- Toyota Camry
- Toyota Land Cruiser
- Nissan Altima
- Toyota Corolla
- Toyota FJ Cruiser
- Mitsubishi Pajero
- Nissan Sunny
Bet you didn’t realize until now that depreciation is a much bigger deal in the UAE than in the UK or US, for instance. The reason for that is UAE residents drive their cars for an average of five years whereas car owners in the UK hang onto their vehicles for at least seven years. Car owners in the US stick it out even longer, at least eleven years!
So if you are out car shopping, remember the rule of thumb that you can’t go wrong with Japanese makes. If you prefer an American car, go for the Ford Edge. Stay away from those German models, however, if value-retentive used cars for sale in the UAE are your biggest priority. Good luck car hunting!
