Dubizzle Motors says around 65% of respondents would pay cash for a used car, while 44% would opt for a financing option
As many as 90 percent of users in the UAE would purchase a used car over a new one, according to a poll by Dubai-based classified platform Dubizzle Motors which surveyed over 1,100 users in January.
It revealed that 68 percent of users are interested in purchasing a car this year, while 65 percent were likely to pay cash for the vehicle, while less than half (44 percent) of car seekers likely to opt for a financing option through a bank.
Expats from the Indian subcontinent accounted for over half (55 percent) of car seekers on the Dubizzle Motors platform, making them the largest audience for secondhand cars, while Arab expats were the second largest audience at 22 percent, followed by Western expats at 18 percent and Emiratis at 5 percent.
The poll also revealed that 44 percent of Dubizzle Motors users are looking to purchase their first car in the UAE this year.
“As the largest motors marketplace in the UAE, Dubizzle Motors offers users a convenient marketplace to buy and sell used cars. Our survey data underscores the popularity of cash transactions amongst long-term UAE residents seeking to purchase their second-hand car on the Dubizzle Motors platform,” said Amr ElGabry, general manager at Dubizzle Motors.
“Not only does the platform offer a wide variety of car brands and models, we also offer users additional convenient services to ensure the quality of the car they are buying. Through our verified listings and car inspection services entail a comprehensive 240-point inspection which ultimately gives buyers peace of mind and confidence when buying a used car. Whether you are a car buyer or seller, Dubizzle Motors offers value and choice for every user’s unique needs,” he added.
Of those polled, 59 percent of car seekers have been UAE residents for over 5 years, with 19 percent having been residents for 3 to 5 years, 16 percent for a year or less and 7 percent for 1 to 2 years.For all the latest car news & reviews from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.