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Buying a used car is a smart financial move but things can take a drastic turn and you may end up paying more than the actual cost of the vehicle.
There are some cases where the sellers and dealerships will add extra charges which may catch you off guard. In order to avoid falling victim to such a situation, it is important to understand potential hidden fees when getting used sports cars in Dubai and how to avoid them.
- Understand dealer fees: Some sellers inflate the prices of their vehicles to unreasonable amounts all in the name of dealership fees.
The dealership fees include processing the paper work, registration, and even sometimes services that you definitely don’t need. So before paying for a vehicle, ask for a full breakdown of the cost and compare with other dealers.
- Watch out for VAT and taxes: The value added tax or VAT is quite compulsory in Dubai and is set at just 5%. But some sellers may intentionally remove the VAT from the price of the vehicle to make it appear cheaper than others.
However, when you visit the dealership, they then tell you that you also need to pay VAT separately. To avoid this, always ensure to confirm whether the advertised price includes VAT.
- Be aware of financing cost: Even when you are financing a used Ferrari in Dubai, you still have to watch out for hidden charges.
This is because some dealerships partner with loan institutions to offer loans with incredibly high interest rates, loan processing fees, or early payment penalties.
Make sure to always read the fine prints and personally calculate what the total financing cost should be. From there, you can discern whether they are overcharging you or not.
- Check the history and condition of the car: Hidden cost can also come in the form of frequent repairs. Before you buy a car, make sure to thoroughly inspect it from inside out.
Dont forget to peruse the vehicles history as well in order to know how well it was maintained by its previous owner to avoid costly repairs later in future.
- Be wary of deals that are too good to be true: Don’t forget the old saying, “if a deal is too good to be true, then it probably is”. Sellers will sometimes lure unsuspecting buyers in with ridiculously low prices.
When you compare that with the average market price, the difference is so significant that it looks unreal. Yes, that’s because it actually is.
Before buying a car, confirm the market price from platforms like OneClickDrive, where you can compare from various sellers across the UAE.
- Negotiate everything: Negotiation is always anticipated in Dubai. So never hesitate to ask for discounts or request any unnecessary fees to be waived. Sellers are usually open to lowering the price, mainly if you are a serious buyer. Good negotiation can save you a lot.
Conclusion
The truth is, the reason people buy second hand vehicles is to save money and that is the more reason you must avoid overpaying otherwise you defeat your main aim.
Ensure to do all the necessary checks before buying a used car and always be prepared for the unexpected. Never be taken unawares.
