dubizzle Motors poll results: Almost 60% of users sell their car within 3 years of purchase and 46% to upgrade to a better model

Over half of poll respondents (57%) stated that they sold their car before the mileage reached 100,000 kilometers

  
dubizzle Motors poll results: Almost 60% of users sell their car within 3 years of purchase and 46% to upgrade to a better model

  • Almost half (46%) of respondents who had sold their car did so to upgrade to a better model, with 16% selling for financial reasons, and 13% to upsize to a larger car 

Dubai, UAE – A poll conducted by dubizzle Motors revealed that almost 60% of respondents owned their car for less than three years before selling it, and only 17% selling after five years of ownership.

“When a car is bought brand-new directly from a showroom, it is best not to sell within the first 18-months. This is a big period of depreciation, so keep the car and get the value from it if possible. The car should still have the manufacturer warranty making it attractive to a buyer and giving the seller the best possible market price for their used car,” commented Matthew Davidson, Head of Motors Services at dubizzle Motors.

Following the recent acquisition of two Dubai-based companies, dubizzle Motors launched two new services - ‘Sell It for Me’ and ‘Cash It for Me’. The services offer more value and choice to the platform users through providing a range of solutions for all types of used car sellers. ‘Sell it For Me’, powered by Expat Wheels, offers sellers a hassle-free service by managing the sale process from end-to-end selling at the market price, while offering buyers access to ‘Verified’ cars for sale, whereas ‘Cash it For Me’, powered by Wecashanycar, offers sellers an instant cash proposition giving sellers real choice.

Many car manufacturers offer warranty packages up to 5 years or 100,000 kilometers – depending on what comes first. Over half of the poll respondents (57%) stated that they sold their car before the mileage reached 100,000 kilometers, however, 43% of poll respondents stated that the mileage was above 100,000 kilometers when they sold it.

“We recommend taking warranty expiry into consideration when selling your car, as buyers will expect a discount once the manufacturer’s warranty expires,” said Jean-Pierre Mondalek, General Manager, dubizzle Motors.

The poll also revealed that almost half (46%) of respondents who had sold their car did so to upgrade to a better model, with 16% selling for financial reasons, and 13% to upsize to a larger car.

“The poll results are indicative of the dynamic and liquid used car market in the UAE. There is a transient culture of car ownership here compared to Western markets, where owners hold on to their cars for 5 to 7 years, on average,” added Mondalek.

The ‘Sell It for Me’ service on dubizzle Motors relieves sellers of managing the ad listing, buyer negotiations, and RTA transfer, whilst ensuring the car is sold for a fair market price to an end-user. Used car buyers can rely on a full 240-point check inspection and verification of the car ahead of purchase, providing an additional layer of transparency and protection. The all-new ‘Cash it For Me’ service provides an alternative, transparent solution for those sellers that are short on time or just want a quick cash exit from their vehicle.

With 1.3 million browsers per month and an average of 20,000 used cars listed monthly, dubizzle Motors has the largest market share in terms of traffic, users, and number of listings in the UAE.

-Ends-

© Press Release 2018

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