Buying a new car is a substantial investment and one not everyone can make. If you’re on a budget or just hesitant to spend that much, you can buy a used car.
Used cars aren’t just old rundown vehicles that are troublesome to drive. You can buy a lot of great cars, with low mileage, from used car dealers. But the better the vehicle, the higher the price.
Luckily, Ramadan is a great time to buy a used car in the UAE because of all the auto-loan offers available! Interested? Keep reading to learn more.
What To Look Out For When Buying A Used Car in UAE
When you’re buying a used car, there are a lot of things you need to keep in mind. The first thing is that you need to know what you need. There’s a lot of choice for used cars, so it’s easy to get confused. Before you begin browsing used cars, make a checklist of everything you need (such as the number of seats, suitability for long drives, boot storage) and then choose cars accordingly.
You should also decide on a budget beforehand. As we said, you can find all kinds of price ranges when it comes to used cars. So, decide on a budget beforehand and don’t get swayed. A great way to get a good deal is to check multiple dealerships and pick the one with the best prices.
When you’re checking out a used car, you can’t just look at the car’s overall condition. You should also check things like the oil, engine, tires, and lights. These are all essential components of the car.
Should I Buy A Used Car Right Now?
Yes! As the month of Ramadan approaches, the spirit of generosity makes it an excellent time to buy a used car. In the UAE, multiple cars’ dealers’ deals can help you secure an excellent used car – even one that’s out of your budget.
UAE Ramadan Offers For Used Cars
So, what exactly are these offers we’re talking about? A lot of UAE banks are offering great deals on auto loans. These will make it much easier for you to finance a used car.
FAB Auto Loans
First Abu Dhabi Bank (FAB) offers auto loansthat are available for used cars. You can get financed for up to 80% of the car’s value (a cash amount up to AED 1,500,000).
During Ramadan 2021, FAB offers new car loans also which will include finance for some of the best muscles and prestigious cars like BMW, MINI, and Ford with very competitive flat rates (1.50% or 1.79%).
NBD Auto Loans
The National Bank of Dubai has introduced a new auto loan experience this Ramadan. This new loan makes it easier to apply and gets approved for an auto loan. The per annum interest rate is also competitive at 3.7%. You’ll also won’t have to give a down payment!
ADIB Car Finance
Another great option to consider is the ADIB Car Finance service. You can get financed for up to 80% of the car’s value (a cash amount of AED 500,000). A special Ramadan offer may increase this to 100%! ADIB also offers flexible repayment terms.
Final Words
While it’s still too early to say, a lot of auto loan Ramadan offers are bound to roll out in the coming weeks. Banks like FAB, NBD and so offer great deals in the holy month of Ramadan in the spirit of generosity, so keep an eye for new auto loans offers. But that’s not all! You can also save a lot of money on car services from different car service centers in UAE.
