Ramadan is a month meant for adoration and spiritual benefits. However, buying or selling a car in the UAE can also be very profitable. Today, we will discuss some advantages of buying & selling a car during Ramadan.
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Benefits of Buying a Car in Ramadan
Ramadan Promotions and Discounts
During Ramadan, dealerships in the UAE offer major discounts and sweet deals on new and used vehicles. This includes cash discounts, trade-in offers, reduced interest rates, and special financing options.
This is the perfect time for dealers to attract new customers before Ramadan ends and Eid begins. Some even run special “Ramadan Sales Events” and host Iftar gatherings to pitch limited-time offers to their customers. BMW UAE offers “Up to AED 40,000 off on selected 2024 BMW models + 3 years free service.”
Flexible Payment Options
Many UAE-based dealerships offer flexible payment options during Ramadan. These options include deferred payment plans, lower down payments, or longer loan terms. This makes it easier for buyers to afford their desired vehicle.
These flexible payment options are especially beneficial for families or individuals who prefer to manage their cash flow and reduce upfront financial pressure during Ramadan. Buying & Selling a Car in Ramadan can be quite profitable.
Lower Interest Rates on Car Loans
Most banks and financial institutions offer special car loan packages with lower interest rates or interest-free loans during Ramadan. These promotional offers can continue during the Ramadan period leading up to Eid.
If you take advantage of these offers, they will benefit you in the long run. They also appeal to buyers looking for a cost-effective way to finance a vehicle. For example, Al Futtaim Motors (Toyota) is offering “Financing with 0% interest for up to 24 months on select 2024 Toyota models.”
Increased Availability of Offers on Used Cars
All of the above offers and benefits result in people selling their old cars to get new ones with these offers. The used car market thrives, and vehicles are available at competitive prices. This becomes an excellent opportunity for potential buyers to buy used cars according to their taste and budget.
Easier Negotiations
Not many people visit dealerships during Ramadan because of the fasting schedule in daytime hours. This results in slower sales in terms of foot traffic, and hence, you can negotiate a better price. Most salespersons are more than willing to negotiate to meet their monthly sales target.
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Benefits of Selling a Car in Ramadan
Higher Foot Traffic Closer to Eid
Ramadan may start with slower traffic due to fasting, but foot traffic increases as Eid approaches. Most people plan their purchases in advance to prepare for the upcoming holiday. Sellers can utilize this time by increasing their marketing efforts and positioning themselves as the go-to place to buy a car.
Buying & selling a Car in Ramadan is relatively easy.
Opportunity to Clear Out Inventory
Many car dealerships in the UAE use Ramadan to clear out old stock or end-of-year models. With the introduction of new cars in the following months, dealers offer special incentives to move stock quickly. This can be really helpful for people who want to buy a used or limited-edition car for less.
Boost in Trade-In Vehicle Sales
Many UAE residents upgrade their rides in Ramadan just before Eid. That is why the number of trade-in vehicles offered at dealerships has increased. For dealers, this ensures a steady supply of used vehicles that they can refurbish and sell to other buyers.
Dealers also offer special discounts for trade-in customers, so you’ll ultimately get a better deal on your car.
Ramadan as a Time for Gifting
During Ramadan, the UAE’s spirit of generosity is at its peak. People are looking for cars to gift to their friends and family members. Dealerships can highlight certain vehicles as Eid gifts to tap into this market of buyers making big purchases.
Marketing Strategy and Branding Opportunities
During Ramadan, UAE residents are looking to give back to the community. Dealerships can increase sales by tying their promotions to charitable causes. Some dealerships even donate a percentage of their Ramadan sales to charity.
Sellers who align with the marketing strategy of giving during Ramadan can attract more customers.
Combined Benefits of Buying & Selling a Car in Ramadan
In the UAE, online car shopping has become popular, especially during Ramadan when people are busy with family and fasting. Car buyers often prefer to browse and compare vehicles online, looking for the best deals without visiting multiple showrooms.
Sellers can capitalize on this trend by providing virtual showrooms, hosting digital sales events, and sharing comprehensive car information online. This will simplify and enhance the Buying & Selling a Car in Ramadan.
Conclusion
Ramadan in the UAE offers many opportunities for buyers and sellers in the automotive market. Buyers benefit from special promotions, flexible payment terms, and reduced competition. On the other hand, sellers can take advantage of the increased demand for vehicles during the lead-up to Eid and the increased foot traffic.
Thanks for reading till the end. Let us know what you think in the comments below. Keep following the Arabwheels Blog for more content like this. If you want to buy or sell your car online during Ramadan, head to Arabwheels for a hassle-free deal today.