Is it the time to buy a new car or upgrade?

Prices are down and more brands are offering 0% for 3-5 year car loans

- BY MANOJ NAIR

Now is the best time for UAE consumers to buy a car, whether brand new or preowned. In many cases, prices are lower than at any point in the last 5 years.

Apart from the pressure on new car prices, at the same time, banks are rushing out with some of the most favourable car financing options available. This includes multiyear car loans at 0 per cent — and 0.99 per cent in the case of pricier models.

What seems different now is that more models are available at 3-5-year 0 per cent interest rate, a clear sign that dealers and banks are working overtime to ensure high interest rates do not put off buyers.