Monday, October 23, 2017
Carswitch Best Resale Value Awards
10-07-2017

CarSwitch.com reveals the car models with the best resale value after 1 year of purchase! As the UAE's first online market place for inspected and warrantied used cars, CarSwitch handles thousands of requests to help users sell cars or buy cars every month. Through this transactional data, CarSwitch has identified which cars depreciated the least and were therefore the best value for money this year.

The Nissan Patrol retains a strong first place, and with such incredible resale value no wonder it's one of Dubai's most popular SUVs. A Nissan Patrol retains 85-88% of its value after the first full year of use, which is considerably higher than the overall average of ~80%. The Lexus IS and Toyota Land Cruiser closely follow, showing that mass luxury models can retain good value. The remaining top spots are occupied by popular mass market sedans, the Toyota Camry, Nissan Sentra, and Honda Accord. Finally at number 7, the Ford Edge gives American makes the only contender in the list.

Used car prices (an online valuator here) are an elusive topic, particularly in Dubai with a relatively large segment of expats exiting (or entering) the market that pressures prices. Imad Hammad, the co-founder & CEO of CarSwitch.com, added ''many factors impact used car prices, from supply and demand fundamentals to promotions on the price of the car new to the color, specific features, and condition of the specific used car at hand. Our team has analyzed thousands of data points to normalize for many of this, but even a burst in grey market imports naturally has a sudden impact on pricing.'' UAE's introduction of VAT next year, and its applicability to new cars, will be another factor to impact value retention of used cars. So for residents looking to sell cars it is not always a straight forward answer on best models or time to sell, though these analyses certainly help shed some light.

Founded in early 2016, CarSwitch.com launched its innovative technology platform to completely reinvent the painful process of buying or selling used cars. The platform offers buyers and sellers better prices through direct seller-to- buyer deals, complete transparency and peace of mind through a proprietary 200-point inspection and guaranteed warranty for every car, and a completely hassle-free experience by taking care of every step of the process. With CarSwitch.com, buyers pay less, sellers get more, and neither have to do the work!

Note to the Editor: The legal name of this company is "CarSwitch DMCC''.

Disclaimer: All facts and figures in this release are accurate at the time of issuance.


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