Amongst the extravagance and luxury of Dubai’s towering skyscrapers and exotic cars, lies a stark reality of hundreds of abandoned supercars that make up the abandoned car market in Dubai.
These expensive cars in Dubai, left to gather dust and decay in parking lots and impound yards, serve as a reminder of the consequences of impulsive purchases and financial mismanagement in a city known for its excess.
Supercars like Ferrari, Lamborghinis, Porsches, Bentley’s and many other luxury cars are quite common in the streets of London, Los Angeles, Monaco, Paris, New York, and Dubai.
Another place where thousands of supercars can be seen is in the Airports and different parking areas of the United Arab Emirates, especially in Dubai.
You might feel, what’s wrong in that, well nothing would have been wrong if the cars were there for just a limited time. Those cars are abandoned there, in simple word left there to rot.
The cars that are extremely expensive and some cost over millions of dollars are left there for years. In this article we will talk about why the Supercars are abandoned in Dubai and what happens to those.
Supercars Graveyard in Dubai
No one would have thought that cars that cost millions of dollars would be abandoned every year in Dubai, and not just two or three but thousands of them by their owner. In fact, it’s a common practice there.
This caused a big debate on social media, when someone spotted the picture (below) of a £1 million Ferrari Enzo.
Abdul Majeed Saifaie, the director of Dubai’s Waste Management Department, has shed light on the abandoned car market in Dubai.
He explains that if any cars happen to obstruct other vehicles or congest the roads, they are immediately removed. However, if this is not the case, these vehicles are often left untouched in the same spot for several years.
Contrary to popular belief that these abandoned sports cars in Dubai are by affluent individuals who no longer value their vehicles, the truth is far from it.
Why these Supercars are Abandoned in Dubai
Financial Crisis
People come to Dubai to make their career, however, because of the financial crisis, there are very few people who make it to the top. Then the rest of them struggle with their career and sometimes even after buying their dream car, they are not able to pay the rest of the money, so they abandon the car and flee from the city to avoid going into jail.
There are also foreigners who get a high-paying job and start buying many luxurious things, which sometimes include a supercar as well, but the financial crisis becomes a struggle for them to keep up with the living cost. Therefore many exclusive sports cars like BMW, Ferrari’s, and Lamborghini’s were abandoned by their owners as they got bankrupt.
Well! The case of abandoned luxury cars in Dubai is a prime example of how financial difficulties can arise even for those who are initially financially stable.
It just goes to show that no matter how much you earn, it’s important to manage your finances well. If you want to learn how to avoid such financial troubles, you should check out our article on “10 Steps To Organize Your Personal Finance In New Financial Year“
The Strict Law in Dubai
Sharia law is followed by Dubai’s legal system, in here if your debt is not paid by you, it becomes a criminal offense. For those who go bankrupt, the legal system of Dubai doesn’t show an ounce of mercy to them. The people take loans from the bank to buy these supercars and when they are not able to pay off the loan of their cars they are forced to leave their cars and flee Dubai.
The law strictly states that if they are not able to repay for their cars and credit card bills, they end up in jail. Sometimes, the keys of the cars are left in the ignition as well while they flee to avoid jail time.
This doesn’t just include foreigners but the locals as well; they bought those supercars by taking loans to keep up with their acquaintances but end up with the sword of debts hanging on their heads. The amazing cars left behind keeps on getting more dust added to them with time, as the harsh laws remain the same for everyone and one will find no protection for bankruptcy.
Many people assume that the wealthy are immune to financial hardships, but the reality is that even the richest individuals need to safeguard their assets.
That’s why insurance is so important for anyone, regardless of their financial standing. If you want to learn more about why the rich choose to invest in insurance, check out this article on “8 Reasons Why The Rich People Buy Insurance?”
What Happens To The Abandoned Supercars in Dubai?
Now the main question, What happens to these cars? Well, to be specific when abandoned cars are found by the police and authorities, they notify the owners of these cars.
Most of the time, the owners choose to ignore the notification and don’t show up for their luxury cars, so the vehicles get confiscated. These cars often remain unclaimed and are auctioned at a much lower price.
Some reports claimed, every year over 3000 cars are left alone in the urban center of Dubai. Whoever wants to buy a luxury car at a much cheaper price can take a look at the auctions held for the cars in Dubai.
Is It Possible To Buy An Abandoned Car In Dubai?
Absolutely! It is possible to buy an abandoned car in Dubai, but the process can be quite complicated and may involve legal requirements.
According to the Dubai Municipality, an abandoned vehicle is defined as any motor vehicle that has not been moved from a public place or private property for a period exceeding 30 days, and the owner or operator cannot be identified or contacted.
When the Dubai police find an abandoned car, they give the owner a 15-day notice to claim it. If the owner doesn’t come forward, the Dubai municipality seizes the car.
The owner still has six months to claim the car before it’s auctioned off. The auctions of the cars are through invitation-only, so buyers need to register with the police to verify they can afford the car.
Alternatively, buyers can ask a dealer to help them bid on their desired abandoned car.
Pratyusha Srivastava
How To Buy Abandoned Cars?
To buy an abandoned car at a car auction, follow these steps:
- As a guest, you’ll get a document with all the car details.
- Register for the auction by showing your Emirates ID and paying a deposit fee at the counter.
- You’ll receive a bidding number.
- A panel of 4 to 5 people will run the auction, and the car will go to the highest bidder.
- You must pay for the car within 48 hours after the auction.
- Remember, these cars don’t come with any manufacturer or dealer warranty.
Points to Consider Before Buying an Abandoned Supercar in DUbai
Before buying an abandoned luxury car in Dubai, it’s essential to perform a thorough inspection both inside and out. These cars often sit in impound lots or other locations for long periods, which means dust and sand can accumulate in the engine, affecting the car’s performance. Even after a detailed wash, some dirt might remain, so it’s a good idea to take the car to a detailing shop in Dubai for a deep clean.
Luxury cars are often abandoned in Dubai for various reasons. Now that you know what happens to these cars and how they’re sold, if you’re interested in purchasing one, be sure to contact a licensed dealer. Also, ensure you have all the necessary documents for buying a new or used car in Dubai.
Conclusion
So what can we learn from the issue of abandoned supercars in Dubai? The message is clear:
Financial planning and responsible spending are crucial to long-term success.
It’s easy to get caught up in the allure of luxury and excess, but these things can quickly become a burden if not properly managed.
By taking a lesson from the abandoned supercars in Dubai, we can avoid the pitfalls of overspending and ensure that our businesses and finances remain on solid footing.
If you want to learn more about the impact of SPENDING on the economy and whether saving or investing is the better choice, check out this article on “Is Spending Good for the Economy? Should We Save or Invest?”
FAQs
Why are supercars abandoned by their owners in Dubai?
The owners after facing bankruptcy often flee the country and left the luxury cars behind, as under Sharia law, if the debt is not paid, then it’s a criminal offence and the person is subjected to jail.
Where is the supercar graveyard?
Dubai abandoned supercars are often left on the streets, attracting attention due to their high value. The supercar graveyard is in Dubai. They can be found randomly in the Airports and other parking lots abandoned by their owners.
How much time is given in Dubai to the owners to claim their cars back?
As per the law of Dubai, once the abandoned car is found and is seized, they have only six months to claim their car back.
