Among the countries of the Middle East, The United Arab Emirates is one of the richest. This status is not only because of petrol, but also due to its regional policy, diversification through tourism, and the luxury sector.
Despite the recent financial crisis and falling oil prices, the country’s economy remains somewhat standing. However, like any modern country, the United Arab Emirates has its share of challenges.
These problems range from typical challenges (poverty and excessively high cost of living) to more unusual ones.
One of the most unusual problems in the United Arab Emirates, particularly in Dubai, is the abandonment of luxury cars of all brands, from Mercedes, Ferrari, BMW, to Maserati and F430 spyder.
Why give up a luxury car in perfect condition?
When you know the reason, you will understand what motivated the owners to make this choice.
The owners of these vehicles either had fees on the cars that surpassed their value, or the car was involved in an accident, so they had to leave them behind.
According to law, not paying your debts or fees is a crime
In the United Arab Emirates. If you default on a payment, fail to pay your debts, or write a bad check, you are guilty of a criminal act. You are then liable to prison.
So, rather than going to jail, the owners of these supercars preferred to flee the country, leaving behind their luxurious rides.
These fancy cars have been around for a long time till dust covered them.
There is a Mercedes on which a passer-by had fun dusting the windshield with his finger to write: Here to stay.
Among these cars are real little gems like Ferrari Enzo,whose ownerisa British who abandoned his supercar and his life in Dubai after defaulting on the finance payments and fleeing the city to avoid jail time.
Seeing these beauties on the side of the road is heartbreaking. One could not but imagine the heaviness of trouble the owner would have faced to have the strength to desert such a car.
Anyways, Once the police suspect an abandoned vehicle, local government inspectors issue a warning notice.
- The main drawback of abandoned vehicles is that they occupy much-needed space in the airport parking lot.
- The positive side is that police sell many of these luxury vehicles at bargain prices at auctions.
How can I buy an abandoned supercar?
- Emirates police organize an auction for abandoned cars yearly. You can attend these auctions only by invitation.
- To get your invitation, you must prove to the police that you have the needed money to buy any of the cars there. Then you receive your invitation as a potential buyer.
- When arriving at the auction, you must have your ID, plus you need to deposit a fee (20% of the bidding limit you have set).
It is worth mentioning here that these cars will not be working perfectly. They have stood there for years so that dust and rust have covered them.
They need a lot of cleaning and repairs to get up and regain their car value in Dubai again.
Although buying these supercars is not impossible, it is very difficult.
You have to clean the sheet of the car, which means:
- You have to dismiss all the cases against the owner.
- You have to pay off all the debts and fines.
- The owner has a period of 6 months to claim back his car. If he failed to, the police will take it then put it in the auction.
Car flippers and dealers wait like hungry sharks to get these cars at reasonable prices!
You may say to yourself: “why don’t I sell my car in Dubai and ride one of these beauties?”
Well, DON’T!
Even though many of these supercars still have their original key inside them, you can not just start the engine and drive.
Driving an abandoned car without its legal papers and registration card is considered theft. Besides, the government will charge you with all the fees and the crimes related to the car.
You do not want to be a king for a day and a fool for a lifetime, do you?
Is it worth it buying an abandoned car?
There is nothing to guarantee that the car you got your eyes on is not a total lemon.
When buying such a car, you are buying an auto that has been in the hot and cold for years.
The first thing to do is to drain the fuel system. Then you should have a new brake system.
If you are lucky enough, nothing important will be missing. But there is a high chance that thieves have stolen many of the original parts like the car’s ECU, dashboards, seats, mirrors, tires…etc.
It is really sad to see these assets in the graveyard, not being roaring on the roads. This might be a good lesson for all of us to try not to live a life that we can not lead.
Author: Muhamad Omari from CarWise.ae
