How to Sell a Car in Saudi Arabia?
Saudi Arabia is one of the most active automotive markets across the Middle East, with large number of people buying and selling cars each day. Selling a car without hiring any professional services isn’t recommended if you are a first time buyer. For your convenience, we have described some important tips to sell a car in Saudi Arabia.
Determine the value of your car
Before offering your car for sale, be aware of its estimated value. Take your car to a local dealer or search through online used car portal to see what offer you get. This is where you build your expectation.
Advertise your offering
Once you know the value of your car, it is time to attract some customers. You can advertise in local newspapers or just place an online ad. Be clear in words and provide as much information as possible. you can use motoraty.com used car section to sell your car.
Provide FAHS
Every vehicle in Saudi Arabia must display FAHS on its windscreen. This shows the vehicle is inspected and declared as safe and fit for the road. If you haven’t placed it on your windshield, give it to the buyer at the time of the deal.
Clear all your dues
If your car has been financed by a bank or private leasing company, check the current loan status to know any outstanding charges. In case you have loan pending on yourself, clear all the dues and acquire a clearance letter or NOC from the institution.
Verify the buyer
Before handing over the keys of your car, make sure the buyer is a Saudi Arabia citizen having a clear track record. Ask for the driving license and the insurance coverage to see if the buyer can be trusted. Besides, do not let the potential buyer go for a test drive alone.
Remove yourself from Istimarah
Istimarah is your vehicle’s card with your name on it, stated as the owner. While selling the car, it is strongly recommended to update the Istimarah and transfer the ownership in the name of the buyer. Else, you may face inconvenience in the future.
Receiving the payment in cash
If you’re dealing on your own, do not trust the buyer. Always ask for a cash payment against the car. Even if one is giving a cheque, do not hand over the keys until the cheque is cleared.
In Saudi Arabia, you can easily find a dealer to sell your car. As these dealers are professional sellers of used cars, they can handle it much easier than you. This would also save your time and hassle.
Terms to know in Saudi
Istimarah – This is the vehicle’s registration in the form of a laminated card that should be kept with the vehicle at all times. It has the owner’s name on it and the license plate of the vehicle. The Istimarah needs to be renewed every three years.
Fahs – This is the vehicle inspection that proves it is safe and roadworthy. This is usually the round sticker found on the windshield.
Al Morot – Traffic police. Expats doing their own paperwork when buying or selling a car will become acquainted with their local traffic police station. Take a book and be sure to pay attention to the line order.
Exhibition – Car dealership, both new and used.