How to find a buyer?
– Do not pay to sell your car.
– Avoid risky test drives with strangers.
– Keep your privacy. Do not share your home address or personal phone number with random people.
Selling to a dealer?
– If you have a car, which is older than one or two years, most dealers will not consider it worth their showroom real estate and reject.
– Do not pay for a car inspection to evaluate your car.
– You do not have to promise to buy a car, in order to be able to sell your car.
– You do not have to drive long distances or compare several dealers.
– Your car’s value does not depend on a dealer’s brand focus, inventory situation or perception of the market. Only a true marketplace based on demand and supply can determine your car’s real value.
– Make sure to check the dealer’s trade license, which should read ‘Used Car Trading’.
What’s the legal car selling process in the UAE?
– Sign a binding, certified purchase agreement with the buyer, before transferring the title.
– Do not accept cheques from strangers.
– Make sure the company you are dealing with is reputable and licensed appropriately.
– If your car has an outstanding loan, make sure to request a liability letter from your bank.
After selling, make sure to remove your personal belongings, number plate and Salik tag from your car.
– After title transfer, ask for a copy of the new ownership certificate of your car, send it to your insurance company to receive a potential refund and notify them about the change in title.
– If you are selling to a stranger or unknown dealer and are not sure, if you will get paid, use an escrow payment service, which will cost you a significant amount of money.