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Buying a used car in the UAE

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    Buying a used car in the UAE

    Hi guys,

    As you all know, im a newbie expat in the UAE living in Abu Dhabi.

    Would like to find out what is the process for buying a used car here and well, what better place to ask than on a BMW forum.

    So we looking for a SUV, preferably a seven seater as a family car even though we are a family of 3, we preparing for times when we have guests over etc... More space is just better.

    Anyways, what is the process for the following:
    1. Private sale, Finance through a bank.
    2. Dealership sale, Finance through a bank.

    I presume a cash deal (no bank finance) will be the same in both scenarios just excluding the bank approval?

    Your assistance is appreciated. If these questions have been answered please point me to the thread.

    Thanks in advance.
    Arbee

    Sent from my SM-G935F using Tapatalk

    #2
    Hey Arbee...

    Buying a used car can be tricky these days considering the amount of imports without proper history or false history. Your priority should be to establish a relationship with a garage that can provide a proper PPI report. Never put down money without the PPI.

    For a used car financing, you'll have to:

    1. Get in touch with your bank and agree on the finance rate and term, depending on the model year, i believe the term is limited to the depreciated value of the car (5 or 7 years I think..not too sure about this)
    2. Get the car valued by an independent evaluator suggested by your bank.
    3. Your bank will then finance you for the amount evaluated less 20% which you'll have to put as a down payment.
    4. Once you've agreed on the final price, got your loan approval and put your down payment, you'll have to get the car transferred to your name (post testing and registration) and provide the bank with the copy of ownership/registration card for them to release the remaining amount to the previous owner.

    If you go through a dealership, a lot of the work is done for you (the registration related work), which if its a private sale will have to be done by yourself and the seller.
    Hope this helps...
    Current
    E92 M3 - Mineral White
    F80 M3 - SilverStone

    Past
    E36 318is
    E39 540i ///M sport
    VW CC
    E46 M3 - Frozen White

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      #3
      Its the same in both scenarios. If you want to finance through bank, you will need a 3 months bank statement and few signed papers.. Rates vary from a bank to another but the lowest you can get is Dubai islamic bank as far as i remember.

      All you need to do is get a paper the states the car Value, apply to the bank for a car loan, you will get the approval within a week.
      Bank sets a date to meet at the RTA. once both parties sign the agreement, you get the car and the seller gets his cheque in 3 days.


      Cash deal is the easiest, all you have to do is meet up with the seller at RTA, sign few papers and the deal is done.
      sigpic

      E92 335i 09 - Current
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        #4
        Thanks for the detailed explanation [MENTION=31]Wazif[/MENTION] and [MENTION=1990]springz[/MENTION]

        Now the hunt begins... We dont have much to spend per month but im tired of hiring. At first it was okay, but then they changed the car cos we mentioned we would hire on a longer term. Im fussy when it comes to cars. Luckily we still on a month to month rental agreement.

        Sent from my SM-G935F using Tapatalk
        Last edited by Arbee; 05-12-2016, 03:16 PM.

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          #5
          Wish you all the best Arbee. Hope that you get a job and your BMW soon :)
          Current
          E92 M3 - Mineral White
          F80 M3 - SilverStone

          Past
          E36 318is
          E39 540i ///M sport
          VW CC
          E46 M3 - Frozen White

          Comment


            #6
            Once again, thank you for the advise.

            Can anyone advise on a preferred used car dealer? And also, in the world of SUV's, which are the good ones?
            Ive been seeing a lot of Pajeros around. Also went for Desert Safari with a Land Cruiser. And see the thousands of Patrols on the road. Which are good and which to stay away from? GMC? FORD?

            Would prefer a V6 or V8 as it would be used for lugging family/friends around UAE. Something with decent boot space and a compromised 3rd row of seats.

            Not looking to spend a lot though. Preferably around Dh60k to Dh80k...

            Sent from my SM-G935F using Tapatalk

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              #7
              Go for the X-terra which i've heard is a great all rounder and exceptional in the desert. I saw a 2012 version (red color) going for a good price with low mileage and the car is in AUH as well (Check dubizzle). The guy is leaving town for a while, asking for AED 63,000.
              Current
              E92 M3 - Mineral White
              F80 M3 - SilverStone

              Past
              E36 318is
              E39 540i ///M sport
              VW CC
              E46 M3 - Frozen White

              Comment

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