Dubai, the ultimate dumping ground of the most expensive cars!
Imagine leaving the most expensive stuff you bought laying abandoned. Would you ever do that? Well, we guess not! But the playground of rich lads, Dubai is facing a very unusual issue- a case of abandoned expensive cars.
In the last five years, the airport parking lots, police station, apartment compound has Porche, Ferrari, Audi, and Mercedes Benz. It’s not because some rich guy left the car behind due to change in taste, or preference. Instead, these cars were once owned by people who got trapped in debt and had to leave the country or whose car was confiscated because the fine amount exceeds the principal amount.
Under the Dubai law, failure to pay back debt is a criminal offense resulting in imprisonment. While the UAE regulation has no bankruptcy law, this means the ex-pats and locals ditch their car to avoid jail time.
In 2011, nearly $2 million Ferrari Enzo was abandoned in the parking lot. According to the Gulf News nearly, 2000-3000 cars are left every year.
How are the abandoned cars dumped in Dubai?
Before disposing of the car or taking it an auction, the Dubai police send a warning notice. If the owners fail to appear within 15 days, the car is then auctioned or impounded for a fraction of the original price.
Can the abandoned cars in Dubai use without consent?
Don’t do it! Don’t take the risk, for;
- The vehicles must have gone through the registration procedure, so you could be in trouble.
- If you take the car, then you need to renew the registration, which requires consent from the previous owner.
- If you still drive it inside the city freely, one day you might get pulled by the Dubai police. You will be asked for vehicle paper works and insurance.
- Taking an abandoned vehicle is technically stealing.
- The complication may go way beyond your imagination.
Points to be considered when buying abandoned cars in Dubai
Well, one can buy their dream car at a fraction of the price on the auction called by the Dubai police. Back in 2017, Khaleej Times stated the police were going to auction off nearly 200 cars. The auction turned out to be a huge success, as people who once couldn’t afford Mercedes Benz, now can purchase on fifty percent redundancy. More details of the auction event can be identified here!
However, there are a few things one must keep in mind before driving back a luxury car home. These are the following tips and tricks to ensure safety when bidding:
- Research – Thoroughly scan the car you are planning to buy. Understand the rooted problem for there are times when the repair and maintenance cost exceed the cost price.
- Understand the legal protocol – Before heading to auction, one needs to pay the amount of AED 500, which allows you to bid up to AED 5000. So, you have to sell out more to bid higher than $500.
- Check the meters – Few of them reset the odometer. So, take the chassis number, and call the respective company to find out the exact car mileage.
- Examine the outstanding balance – Most of the time before taking up the car, the outstanding amount owed by the previous owner needs to be cleared. This can add to your expense, so find out the exact amount before making a transfer.
- Get a NOC – A NOC certificate is a must for the second-hand purchase. Traffic violations are extremely expensive hence check the NOC before getting trapped.
Buying an abandoned car in Dubai has its own pros and cons, so one must find out the cost weightage before cracking the amazing deals.
