5 Reasons Why You Should Sell Your Used Car Sooner Than Later

Thinking about selling your used car in the UAE? You might want to act now before the market shifts. While the UAE boasts a thriving used car scene, several factors are converging to create a potentially less favourable landscape for sellers in the first half of 2024.

Market experts anticipate a reduced demand for used cars in H1 2024. This dip can be attributed to various factors, including economic fluctuations and a potential influx of new car buyers due to easing travel restrictions. With fewer buyers, competition for your used car will be stiffer, potentially leading to lower offers.

Brace yourself for potential price dips of around 15% for used cars in the UAE. This is due to the anticipated increase in supply coupled with the softening demand. Selling sooner allows you to capitalise on the current market value before it depreciates further. Read this guide to know additional factors that will make your used car price drop.

The UAE’s used car stock is expected to double by H1 2024. This influx will be fueled by various factors like lease returns, increased trade-ins for new models, and economic pressures leading to car downsizing. With a saturated market, your used car might face tougher competition and longer sale times.

Despite the UAE loving its luxury and premium cars, the demand is projected to decline. Opting for more practical and fuel-efficient models might become the new trend. If your used car falls in the “luxury” category, selling now could be a wise move before demand cools.

Whenever a new brand or a model enters the market, it tends to stir up things for the used car market. This can divert attention away from older used cars, making it harder to attract buyers at your desired price.

Currently, we are noticing a slew of Chinese brands entering the UAE with a huge line-up of tech-loaded cars. 

Additionally, a couple of new brands are set to set shop in the country. This includes Kaiyi and Zeekr, Roewe, XPeng and more. Read this linked article to know more about Chinese car brands entering the UAE.

Apart from Chinese cars, we have also noticed a surge in new EVs and hybrid cars launching in the UAE. Tesla launched the new Model 3, while Porsche updated their Panamera range with a new hybrid version. Watch the video to know more about the EVs impact in the market.

All the above factors could cause the used car prices to further drop and lose their value. Here is a guide explaining the best time to sell your car.

If you want more insights on how the car market is going to shape up in the UAE this year, here is a detailed article with insights and a thorough comparison of the industry in 2023 vs 2024.

Selling used cars will require maintaining a certain way to get the right value. DubiCars offers a convenient online option through the free Value My Car tool. 

Unlike some platforms, DubiCars doesn’t buy the car from the seller but provides an accurate market value. After determining the accurate value of your used car, the next step is finding the right buyer. 

DubiCars’ Sell My Car section offers appealing packages, to enhance your ad listings. It allows the sellers to reach a growing community of more than 2 million monthly car enthusiasts. Also, the VIP Home Package to sell your used car is a hassle-free option where we handle everything for you.

Find used cars for sale in the UAE and new cars for sale in the UAE.