Dubai is a desert metropolis where you would quickly see some of the hottest luxury cars at traffic lights or cruising on the roads, just like that!
You would find the parking lots outside malls dotted with some of the coolest and most expensive luxury and supercars.
The UAE life is rather accommodating to luxurious living, in general. Many reasons contribute to that.
When it comes to Dubai cars, they are more than just vehicles, used to get to one place from another.
The cars depict the owner’s lifestyle, where people can only dream of riding a Jaguar or a Porsche.
The city of gold makes it relatively easy to own a sports or luxury car in Dubai, allowing people to drive the vehicle of their dreams.
Luxury Cars in UAE
How come so many people can easily access an expensive set of wheels?
That’s what we are going to learn today!
1. Affordable Petrol
UAE’s capital, Abu Dhabi, holds 95% of the country’s oil and 9% of the world’s proven oil reserves.
Based on this fact, the petrol prices are relatively low compared to other counties.
That makes it simpler for people to have cars as the fuel costs do not burn a hole in their pocket.
2. Low Tax Rates
Since there is no income tax in the UAE, what you earn is solely yours.
The VAT rate is only 5%. That way, the people happen to have higher disposable income.
3. Crime Rate and Car Theft Rate is Low
UAE is one of the safest places to live. The crime rate is low, and car theft is more melancholy.
The rules and fines are strict, making thieves fear the consequences of getting caught.
That’s why you would hardly hear about robberies, people getting their cars stolen or vandalized.
4. Insurance is Affordable
If you have been using a car for a long time, you will find that UAE has comparatively low insurance rates.
That makes insuring your luxury car a bit more expensive than a regular car, but not as costly as it is in Europe.
That’s also one of the main reasons many people in Dubai and the UAE buy luxury cars.
5. Easy and Accessible Car Loans
Contrary to the West’s long and complicated process, getting a car loan is very easy in the UAE.
People can get car loans on low-interest rates and even spread the payback from 3 to 5 years.
6. People Can Rent Luxury Cars
Even though many people in the UAE own luxury cars, not everyone may have the financial capacity to buy one.
Renting out luxury cars is rather popular in the UAE, especially for tourists.
They explore the city and experience an entirely deluxe lifestyle riding in a luxurious set of wheels.
In that case, people can always head to rental websites that have luxury and sports car sections.
Also, people rent a luxury car for special occasions. At the same time, people also rent cars to experience luxurious rides.
7. White Collar Jobs Are Well-paid
Most of the white-collar jobs pay well in the UAE. You can get a well-paying white-collar job in the UAE.
If you are good with salary negotiations and a skilled person, you can surely get one and easily afford a luxury car.
8. Most People Buy Used Cars
Most people in Dubai enjoy a better standard of living than the others.
If you buy a brand-new luxury or sports car in Dubai, they are quite expensive.
But these vehicles tend to depreciate rather quickly over the first two years.
Say, if you buy a luxury car for DH390,000, its value will drop to DH250,000 in just two or three years max.
That’s quite a drop. Since Dubai is home to many ex-pats, most of them buy second-hand cars for paying a lot less.
Used luxury cars for sale in UAE have become the preferred means for most as having their means of convenience is inevitable when you are living in Dubai or another city.
The prevalence of used car dealerships and online platforms has enabled everyone to own a vehicle in the region.
Those are not just standard cars but also sports and luxury car options.
Therefore, all the reasons mentioned above play a vital role in the widespread ownership of luxury cars, both used and new!