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Your Money blog What cars retain more value in the United Arab Emirates.
Buying a car is one of the biggest financial decisions you will make, second only to invest in property, and the right choice can help you save thousands.
But unlike the houses, the cars are not aware of the value, but begin to depreciate the moment you drive out of the showroom According to a platform United Arab Emirates for the purchase and sale of vehicles certified Used, new engine can depreciate over Dh20,000 soon you take home in fact, estimates the company that depreciation accounts for over 60 percent of the annual cost of owning a car.
Using data from 2,500 sellers on its site, the company analyzed the value of a car when it was new, this year, the model and the sales price using this information, he found that the average for how each model had depreciated the top five cars retain their value in the United Arab Emirates.
What in his research is that depreciation is more business in the UAE than in other markets On average, residents drive their new cars here for five years, while owners in the UK and the States United hang on their cars for more than seven and 11 years, respectively.
Another interesting element of the research is that resale values differ between brands, with the rate of depreciation of a car between 30 percent and 50 percent after three years, but it seems that you won wrong with engines made in Japan.
Most cars on the list of 10 Japanese brands were with the blaze Nissan Patrol LE Platinum retaining the largest value A Patrol in 2013 purchased approximately Dh230,000 is worth about Dh170,000 today maintaining the value of its about 75 percent.
No German cars made it to the list of top 10 CarSwitch and the Ford Edge is the only American car to do it with a retention value of 65-70 percent.
Cars lose about 1 to 5 times more value in the first year than in subsequent years so that a car loses 20 percent of its value during the first years, the rate drops to 10 depreciate 15 percent after then, he financial sense to buy a car two years old a skipping the initial loss.
In the UAE, the cars cover 20,000 kilometers per year on average, however, playing the age of your car a more important role in determining the value of his mileage For example, a 2013 Nissan Patrol with 100000-km or less almost the same value as the Nissan Patrol 2012 with so 60000 km, drive your car as much as you need.
After age, accidents in the state, service history etc. The car is the next biggest determinant of the value of a car CarSwitch said he sold 2014 Hyundai Santa Fe for DH50, 000 and another for Dh60,000 due to the difference in the cars condition so if you are on the point of sale, to enhance its value with some cosmetic repairs and a good cleaning.
If you buy used, make sure that you haven t overlooked a major flaw that the car fully inspected by a dealer or one of the local garages.
If your car is in good condition, keep it as long as possible by trade after a few years, you start sinking again cycle.
Your Money blog What cars retain more value in the UAE's The National, your, money, blog.