The number of abandoned-leased cars increased

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A report in The National yesterday (10 January, 2009) said that in 2008, the number of abandoned-leased cars increased by 123 per cent and gave the following numbers:

  • 65 cars were abandoned at Dubai airport and seized by the police  by the end of 2008
  • 22 cars were removed from Dubai airport by police “recently”
  • 1450 cars were claimed back by banks in 2007 (not just abandoned at the airport) – about 28 cars per week
  • 3200+ cars were claimed by banks in 2008 – about 60 cars per week.

However, private source said, that around 460 cars were found parked with keys inside, in Dubaib Airport parking lot, which assumes of people terminated who fled the country leaving these cars.

We can’t speculate guessing what the exact number is, but even if  the newspapers’ report is true, how many cars we can expect to be found abandoned on the streets and open car parks around buildings in Dubai and the northern emirates,  where mostly expats live?

It’s the right time to purchase car for less, as everything else going for less nowadays.

Seized cars end up as lots in an auction or on the floor of car showrooms. Golden Belt, an auction house based in Al Aweer, Dubai, holds car auctions every week where many cars taken back by banks are sold off. Among them are expensive sports cars such as Porsches and BMWs.

1 COMMENT

  1. ‘Only 11 Cars Found Abandoned At Airport’

    Rubbishing reports that scores of people were abandoning their cars in parking lots at the airport and fleeing from the country due to financial losses. Lieutenant-General Dhahi Khalfan Tamim, Commander-in-Chief of Dubai Police, said only 11 unclaimed vehicles had been found at Dubai International Airport.

    Of them, only four cars were abandoned by low-income owners, including a salesman in a shop and an employee of a car rental firm, as they could not pay the bank loan instalments.

    The cars were not dumped because of the financial crisis as claimed by sections of the media, he said.

    The other cars, which were found at the airport, might have been left behind by their owners who went to their countries but could not return due to some circumstances back home.

    At a press conference held in Dubai Police Officers Club on Thursday, Dhahi said the reports were based on nothing but rumors. It is normal for people to leave their cars at the airport parking when they go overseas for various reasons.— amira@khaleejtimes.com

    http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/theuae/2009/February/theuae_February159.xml&section=theuae&col=

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