What’s up with the used car in Dubai?
Like the title says I don’t know what’s up with the used car seat in Dubai right now?
I had a look at the Denza B8 the other day. I really liked the car, but the salesman at Al Futtaim said I can pay a refundable deposit of AED 10,000 and book the car. He said it should be available in a month or two.
Within 24 hours of paying the deposit, the car that I wanted suddenly became available in their lot.😂
I decided to sell my 2025 Hyundai Santa Fe with 16,000 kms on it. The car is as good as new and under warranty and has a service contract. I just don’t like the way it drives and my wife doesn’t like it because of it size. The car is really comfortable and practical but it doesn’t speak to me.
I bought it for AED 175,000. It’s the Premium Plus with all the bells and whistles and the 2.5T engine. It’s barely a year old.
I went to Al Futtaim Automall and they offered me AED 90,000. WTF?!🤬
They didn’t inspect the car. They just didn’t seem interested. The guy there claimed that there is no demand and they have too much inventory.
But I checked their website and they have so few cars online.
Then I went to Kavak and they told me they are not buying any cars this month. They will get back to me next month if and when they start buying cars.
I went to Kavak in Al Qouz and their entire yard seemed to be full of unsold cars. The guy there claimed it was over 1,200 cars.
So, new car prices aren’t going down. Old car prices aren’t going down even though used car dealers have a lot of inventory (or so they claim).
What is happening? I’m getting a feeling that these used car guys are trying to take advantage of the situation and are lowballing customers.
I really wanted your take on this matter. Do you have any information or opinions on this matter?
Btw, I even checked with Hyundai and they said they don’t have any Santa Fe stock right now. New cars will come in 2 to 3 months and the prices will go up.