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The United Arab Emirates (UAE) has a highly developed automobile market, as its Car economy has proliferated, and the population is culturally diverse. On this market’s basic metrics, Dubai again takes the lead in the car market, containing both luxury cars and rather average vehicles. This is because the city has a vibrant economy and is also host to a large population of foreigners who are transient in nature; thus, the market for acquiring and selling used cars is a viable one. Here is my auto sales journey and how I managed to sell my car in Dubai in the crowded market.
The Decision to Sell
After living in Dubai for five years, I realized the importance and comfort of having a car. Nonetheless, an offer of employment in another country led me to dispose of my favorite car, a sedan. It was not an easy decision, especially since a relocation is offline, but the time was right to let go of my car.
Initial Research
I then undertook a market analysis process to grasp the market. As mentioned before, competition is stiff in Dubai, especially in the car market, as many sellers flood the market. First, due to the current availability of numerous online platforms such as CarSwitch that put up cars for sale, I did basic research on the current market prices of my desired car’s make and model. This research assisted me in determining a very good price that was halfway between ‘feel good,’ the desire to cut down the price to capture the top market share that current key competitors occupy, and the practicality of the realistic price to cover the overall costs and profit.
Preparing the Car
There are parts of a car that attract a customer, so you should make sure you present your car in the best way possible. I bought a detail service, and the car’s interior and exterior were washed immaculately. The area around the engine was super clean whereby the headlights were made to look as new as they were when the car was first manufactured. I also focused on smaller maintenance, like painting over scuffs and bends. Such measures came handy and made sure that my car was as good as new hence attracting those who might be willing to buy them.
Gathering Documentation
Next, I compiled all the necessary documents:
Registration Card (Mulkiya): Ownership documents of the property to be filed/registered; or documents of title over the property to be mortgaged.
• Service History: Records must be kept about all maintenance and repairs.
• Loan Clearance: Since my car was financed I applied for a loan clearance certificate from the bankers.
Finally, maintaining documents ready for sale, including all legal documents and papers, was an essential key to gaining the buyer’s trust and confidence as well as enhancing the flow of the transaction.
Listing the Car
With a clear picture of the car’s exterior and interior and a well-written description, I posted the advertisement on various selling sites. The ad included:
- Vehicle specifications: Makes, models, and years of the vehicle.
- Mileage.
- A general inspection of the vehicle, including its internal and external condition, maintenance records, and other services provided to it.
- Asking price.
The status of such a car was a major selling point for Dubai, and I thus draw attention to it by outlining that it was in ‘as new’ condition and has had all the necessary servicing recorded.
Screening Potential Buyers
This was particularly important to avoid being scammed or spending time on people who had no real intention of building a business in the first place. I went around questioning each interested party to understand what they planned to do together with their financial capacity. Potential customers who were genuinely interested possessed basic knowledge of the car and sometimes proceeded to ask various questions about the car’s past and current state that I was willing to answer without holding any information.
Test Drives and Negotiations
The next thing was to organise for people to find and test car manufacturers. I took potential buyers to a new house in safe public places and followed them when they got into the car. Not only did it keep me safe from any untoward appeals, but it also helped me answer the questions that were close at hand about the car.
After some time of negotiations, I did not budge much, but I was not very rigid either. This was done by counselling with a set minimum acceptable price to ensure that these discussions were well coordinated. I had to search for quite some time until I found someone who had an interest in the product I was selling and who was ready to accept my price.
Finalizing the Sale
When it came to determining the cost of the products, we proceeded to the buyer and seller agreement process. We were able to prepare sale agreement terms, and at the same time, we made the necessary preparations for the payment. The other was a direct payment through bank transfer, whereby they produced receipts showing that the keys were only handed over after the money had been confirmed to have been transferred.
The last phase was to sign the vehicle’s title at the Roads and Transport Authority (RTA). The buyer and I went to the RTA office with all the required paperwork. The buyer gave new insurance particulars, and within twenty-four hours, the title transfer occurred.
Reflection
Usually, people do not sell their cars but rather take them to a scrapyard and get them disposed of, but it was very educational to sell them in Dubai. All in all, it is important to note that while the city’s car market is quite saturated, selling cars is still profitable and filled with options for those who are willing to do their homework. To thus engage in this process, I understood the market where I could obtain crucial information on its condition and prepared my car in a way that it was in good shape and could pass through necessary evaluations. When appealing to a certain buyer, I was very direct so that he knew that I was selling my car and not posing as a mere middleman.
For anyone technically searching to sell my car in Dubai, I recommend taking time for preparation, being honest, and embracing the city’s strong online presence. It may look like a chore you are assigned at college, but with a proper strategy in place, you have a shot at a successful sale.