Buying a car is a great deal for everyone. Every new car brings a new sense of excitement and joy along with the nervousness and stress. While your mind is pondering dozens of questions and queries, the biggest milestone is whether to buy a new or a used car. Whether it’s a new or used car both has its own benefits and doubts.
One of the primary advantages of purchasing a used car is the potential for substantial cost savings. In the UAE, buying a used car is considered one of the most cost-effective options available. Studies have shown that the UAE is one of the cheapest places to buy used cars, allowing individuals to not only avoid significant depreciation but also obtain their dream car within their budget. Despite being pre-owned, most used cars come with regular maintenance records and warranties, reducing the risk associated with buying a used vehicle.
Because of a growing population and a shift in customer preference from public to private transportation, the demand for used cars in the UAE has increased significantly in recent years. According to Ken Research’s “UAE Used Car and Auto Classified Market Outlook to 2025,” the UAE’s used car market is expected to grow at a positive CAGR of 16.6% in terms of revenue between 2020 and 2025. Let us look at some of the reasons that makes used cars not only the most cheapest but ideal choice in the UAE.
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Lower Depreciation Rate
One of the key reasons that make used cars an ideal choice in the UAE is their lower depreciation rate. When new cars are driven off the lot, they typically experience a depreciation of around 20%. Additionally, most cars lose an additional 10% of their value in the first year alone, resulting in a significant decrease in value during initial ownership. In contrast, the depreciation rate of used cars is relatively slower, enabling owners to sell their vehicles at a favorable price. Consequently, the first car owner incurs the greatest depreciation loss compared to subsequent owners, making used cars highly desirable in the UAE.
Cheaper Insurance Rates
In the UAE, used cars are typically less expensive to insure than new ones. It’s because they use older technology that requires less maintenance. You can get insurance based on your budget and several factors such as your age, driving record, and vehicle condition.
Finally, making sure you get the best deal is critical, so you don’t have to look for car repair or service centers after the fact. It may appear difficult to choose the right used car model, but you can always approach shops, private dealers, or car dealers when you can get the best price. And before you make a final decision, you can conduct a pre-purchase inspection with CarSwitch to make sure that you’re getting a reliable and safe vehicle. Trust us to help you find the perfect used car in the UAE for your needs and budget.
Read More: Here is everything you should know about car insurance in UAE
Owning a Luxury Car is Simple
Many people around the world wish to buy a luxury car, but not everyone is able to do so. Things are different in the UAE, where you can sample a luxury car at a lower cost. Because used luxury cars are less expensive than new ones, potential buyers have more confidence and can purchase the luxury car of their choice.
Low Fuel Prices
Fuel prices pose a significant expense for every car owner. However, in the UAE, fuel prices remain remarkably low compared to other countries, thanks to the country’s vast fuel reserves. With a steady supply and affordable prices, owning and driving used vehicles becomes more cost-effective for car owners in the UAE.
Certified Pre-owned Option
If you are still concerned about hidden problems in a used car, purchasing certified pre-owned may be a good option for you. You will still save money by purchasing a used car, but you will gain additional confidence in the vehicle’s dependability. Certified pre-owned or CPO programmes differ from one manufacturer to the next. CPO vehicles, in essence, are vehicles that meet a manufacturer’s established standards and come with some form of defect guarantee, similar to a new-car warranty.
Check dealership inventories for the CPO vehicle you want to buy. When it comes to pre-owned options, each dealership has its own jargon, so do your homework before going to the showroom. Most of these vehicles also come with extended warranties, so make sure you know how long they last and what they cover.
Reduced Risk of Purchasing a Faulty Vehicle
The UAE has stringent road safety regulations that require thorough record-keeping of a vehicle’s history, including maintenance, inspections, accidents, and renewals. These records and documents, along with the ability to check the vehicle’s history online using the chassis number, reduce the likelihood of purchasing a faulty vehicle and streamline the buying process.
What are the Cheapest Cars in the UAE?
The most affordable cars in the UAE are:
- Nissan Sunny
- LS version of the Chevrolet Spark.
- Ford Fusion
- Celerio by Suzuki
- Mitsubishi Attrage/Mirage.
- Kia Rio
- Mitsubishi Lancer
- Chevrolet Aveo
When it comes to vehicles with the highest resale values in the UAE, popular models like the Nissan Patrol, Toyota Camry, Toyota Land Cruiser, Lexus IS, Ford Edge, Honda Accord, and Nissan Sentra are known for holding their value well.
Read More: Why are Used Cars so Cheap in the UAE?
At CarSwitch, we strive to make the car-buying process seamless and reliable. We offer pre-purchase inspections to ensure you make an informed decision. Feel free to reach out to us for assistance in finding your ideal used car in the UAE.
