UAE used cars market moves into the fast lane

It’s not just new cars that are being driven away from dealerships across the nation — buyers are happily putting their money on used cars as well.
An online classifieds portal for new and pre-owned cars, states that the used cars market in the UAE is worth almost $2.5 billion (Dh9.1 billion) and growing at 15 per cent annually.
Demand is also being driven by faster loan approvals and easier access to financing offered by banks and dealers. “Used car finance depends on the model of the car,” says Preeti Harrison Bhambri, Managing Director of MoneyCamel, a UAE-based personal finance website.

Published: Gulf News- June 22,2015