Selling a car here in the UAE can be a relatively pain-free process if you follow a few simple steps.
Clear your debts
Approximately 40% of car transactions in the UAE are cash. If you are like most car owners who opted to finance their purchase through one of the banks and you’re considering selling now, you might want to consider clearing your auto loan beforehand; especially if you have an outstanding balance on your mortgage. In terms of time, you will factor 2-3 working days for the mortgage to be released from the RTA system after you clear the loan with your bank. If the buyer is also looking to finance their purchase and you prefer to keep your cash on hand or unable to pay beforehand, Emirates NBD bank has a one-of-a-kind solution called AutoSwap in which they will clear your existing loan and finance the car for the buyer.
Find a buyer
After paying off your debt and fines, you can start looking for a buyer to get your car off your hands if you don’t have one already. Here in the UAE, we are not short of options. The easiest and fastest way is to place an ad on a reliable online classifieds portal like dubizzle. If you’re not interested in the conventional selling process, you could opt for assisted selling through the experts at dubizzle pro where they’ll do all the heavy lifting for you and sell the car at the maximum value. Alternatively and if you’re in an absolute rush for cash, you could try an instant cash buying service like wecashanycar.
Pay off your fines
Any outstanding fines associated with your number plate should be cleared as these can delay your car transfer process. You can check for all your unsettled fines, Salik bills, and even pay off the dues on the Dubai Police website if you have a Dubai number plate or the Abu Dhabi police website if your number plate is from any other emirate.
Apply for a vehicle transfer with the RTA
After completing the above steps, you can finally transfer your vehicle to the new owner at the RTA. To do that, you need to provide the following documents:
- Original vehicle registration or Mulkiya card
- Original Emirates ID or Passport
By following these steps strategically, you can easily transfer the ownership of your car before you move on to another journey.
Cancel your insurance policy and Salik
Before you hand over the car remove the Salik tag from the car and destroy it. The next step is to cancel your insurance policy. You can only cancel after the car is transferred to the buyer. You will need to take a clear photo of the new registration card or export certificate. Simply send this to your insurance company to prove you no longer own the car and they will process a refund for the remaining months of the policy.