Let me clear up things for you: 1. Sharia law is not responsible for the issue. It's a local law of the UAE regarding loans and credits 2. Most of the supercars you saw are abandoned from the 2009 financial crisis. A lot of people lost their jobs during that time. Big guys who used to own the cars had to sell them and some just left it as they don't have a choice but to leave. 3. Some supercars are not really abandoned, some just went for holidays. You leave your car here for 2 days outdoors, it'll look like abandoned when you come back. (Yes it's pretty safe to park an expensive car anywhere - car theft is rare) 4. Defaulting on your loan is not a criminal offense, it's a civil case. BUT you will still get a criminal case for bouncing your check (which is mostly required as a "guarantee" when applying for a loan)
I don't fault the poster for making these mistakes. It's not easy to research something like this when there are language and cultural boundaries. Thank you for the clarification. Is it common practice for foreign buyers to aquire and export these cars?
Tyler Smith It's just Middle East, especially UAE is usually misunderstood. About the foreign buyers question. Abandoned and seized cars are sold in Emirates Auction, normal individuals can try their luck but there are wealthy people and companies that won't let you buy those as they can bid until they win it. I am not sure about foreiners buying from auctions and trying to export them. But as far as I know, there are individuals who purchases cars here (bnew or good condition 2nd hand) and exporting it to other countries. In example, most Camaros sold in the Philippines are from here in the UAE. Chevy Philippines does not offer Camaro to the local market.
So if i wanted to go buy one how would i get it back here to the USA with out it costing me a small fortune? Then i would have to go through all that crazy paper work trying to get it registered over here, lol i don't think it would be worth it.
I lived in Dubai up until 2014 and car finance is quite scary. You can pretty much ask for a loan for anything and they will give it to you. However, when you take out a car loan or a credit card you need to provide the bank with a "security cheque". This is essentially a signed blank, undated cheque from your personal cheque account. The bank holds this and when you pay off the loan you get it back. If you default on the loan the bank fills in the outstanding loan amount on the cheque and deposits it. The cheque will then bounce and as bouncing a cheque is a criminal offence you get arrested and charged with fraud. So if you lose your job or can't pay your debts you need to get on a plane and leave as fast as possible before they deposit the security cheque.
Nicholas Heathfield no they wouldn't. Educate yourself before spewing misinformation. For hands to be cut off a theft has to be pre planned and you need a certain number of witnesses. Even in Saudi Arabia, a theft has to be committed three times before they consider chopping your hand off.
Witnesses are only to establish guilt. The hadiths are very clear: thieves are to have their hands cut off. That's sharia law. The fact that it's too barbaric even for Saudi Arabia in most cases, is neither here nor there.
Dubais not the only place with "debtors prison". Its actually a pretty common thing in the middle east and parts of Europe as well. People dont realize how good we really have here sometimes.
99.9% Of these "abandoned" cars you see photos of are in fact not at all abandoned, in Dubai they have SANDSTORMS and it covers everything in sand and dust, making it look like its been sitting forever in that spot even if it was parked 2 minutes ago.
Every place has some bad weather, so if you have an expensive car it should be garaged. Here in the US Midwest we get occasional car-damaging hail storms. There is no way I would leave a $1m car outdoors.
@@stevenhs8821 well that's u bro ..in Dubai it's nothing to see a Bentley parked outside for days because car theft or car vandalism is unheard of in the country ..
Most cars are abandoned by foreigners and are abandoned at the airport. Most Cars in Dubai can not be imported into the United States of America. They do not meet U.S. NHTSA and EPA Regulations for Safety and Emission. Word of Advice, When buying an abandoned Dubai Automobile make sure it is over 25 years old. Then, you will have no problem Importing it to the United States of America. A Super Car is still a Super Car no matter what it's age.
Because it’s a super car you can claim it as a show car and you’ll be able to drive it for a limited Mileage a year and only to events and for “servicing”. But we all know you can call it “servicing” as long as you have paperwork calling it as such so drive away.
True there are some abandoned supercars in dubai but actually 95% of these cars are just dirty. Dust storms are a daily weekly thing there. Most of these cars have owners. So yes they look abandoned but talk to some people that live there and you'll find out its not all true
avi ramlochan man what are you on about? These cars are abandoned and just like most other cars are, people ditching by the thousands.. I'm sure ppl with that money can afford covered parking spaces and regular washes...
ToxicDonut81 I had a S Class in Dubai which would get this dusty when I left it overnight out because I couldn't put it underground. It's changed now but back then cars would get this dusty when leaving it out for a period of hours.
H. KC mate dust storms will make it look like that in 2hrs. I went to a garage and guy said how long you think that hummer has been there I said 2 yrs he said 1 week. A lot of dealers are in Al quoz industrial estate which houses cement factories
I was in Dubai and these are not abandoned cars these are car after a sandstorm. This would be like showing cars covered in snow after a snowstorm at the airport parking lot and claiming they were abandoned because they have snow on them.
First of all still sad you sold the Z06. I'll try and clear a few cliches and old news that have been exaggerated or completely deformed from what the reality is. Just for info I live in dubai for the past 8 years working here and it has its good and bad sides so no apologist here. 1. The Enzo was never abandoned because the owner had too much debt. It is very much a seizure part of a much bigger drug and criminal case: www.emirates247.com/news/emirates/1-million-ferrari-enzo-is-not-for-sale-dubai-police-2012-04-25-1.455710 Very sad its kept in judicial lock-down but no, no dumb-ass borrowed money to buy one 2. One point you probably are not aware of is that the Dubai Police is EXTREMELY strict on speeding and with the highest concentration of big horsepower in the world the temptation to squash the gas pedal is very strong. Trouble is if you get caught the fines are eye watering-ly expensive along side a lengthy impound. 3. Due to the very nature of the climate and landscape any car parked outside more than a handful of days will be turned into a dusty mess which is where a lot of those pictures originate from. Cars are not abandoned they are just on lock down in the Dubai police pound on a 1-2-3-6 month basis. Repeated offense will see the car seized and sold on auction along side a very long license cancellation. 4. No cars are not impounded after 15 days by the police unless they are blocking access to property or endangering people. They can sit there for month before they are reported to the police. The reason is the owner might be away on holiday or live only a limited amount of time in Dubai a year (95% of the population here is not a national from UAE). 5. Dubai is a hub from East to West. We inherit a lot of cars from all around the world usually insurance right offs that are imported cheap to scavenge for parts and or try to re-rehabilitate. Every hurricane, flood anywhere in the world and you can be sure the outskirts of the city are going to be filled with cars looking like trash. They tend to sit there for ages waiting to be dismantled. I myself scored a texas insurance right off for a bargain and have been fixing it ever since. 6. Yes people do end up in jail for debt - usually the very last step in the case simply put because in prison you can't repay your debts. It happens its tough and it sucks but don't bite more than you can chew sadly we have idiots who don'd understand the concept of over leveraging themselves. 7. The absolute crushing majority of cars seized by the police for debt or being left out to rot are cheap Japanese cars with a sprinkle of euro cars. Exotics are far and few between and make the news here. 8. The auction is publicly available on Emirates Auction where anyone can bid. You'll have the abandoned cars, the seized vehicles, the insurance right offs, private sales and import sales. If you are hoping to score some bargains don't get your hopes to high good condition cars (let's not forget exotics) sell for just under their market value. You might score a bargain once in a while. 9. "summer" here is just as harsh as in Las Vegas and a lot of exotic car owners just keep them indoors for 3 month preserve them from the scorching sun and heat sadly there's nothing you can do to avoid the never ending onslaught of desert sand and dust. While cars may look abandoned 10 days tops will make your car look trash even in a basement parking. My neighbor has an SL 500 which looks like ass at the moment although he cleans it nearly every week. So relax people don't ditch their cars never to drive them around. I know its easy to bash people form the middle east as oil rich insensitive people but that's just a cliche. 10. This story originated back during the credit crunch from 10 years ago when the real estate market crashed nearly over night and a lot of people lost their jobs, saw their house lose 60% of its value and for some the only solution was to head home and try and pay their debts from their home country. Alright hope this will straighten up this story on your side of the internet. Cheers from Sunny Dubai
Rafikou Mimou he has no idea what he's talking about at all some.dumb white boy hahaha he doesn't even say his own name correct what the he'll does he know hahaha Prue stupid
Let us know how it does work then? Do you know about sharia law and how the punishment it's supposed to be for defaulting on your loan and can you educate us? I'm sure all of us would like to know from someone who's educated in it and how it works there. If you don't then how can you say he doesn't have his facts straight? I'm sure he did research before making this video.
Rafikou Mimou fuck your conspiracy theories if you knew anything more than he did in sure you wouldn't have had any problem educating us. But I'm sure your goat is lonely and needing attention so that's more important
From what I remember is that in Dubai sure you can buy that Enzo for 10k but you then assume the rights and responsibilities of all the fines,fees and penalties that had been accrued on that car by the previous owner. So you end up buying a used, dusted and beat up super car at retail value...... not to mention the export/import costs to get it back over here.
FYI, auctions in Dubai work a little differently.. Remember that people have the money to bid up to almost the original price, also rich guys roll in and outbid everyone for an entire fleet of cars together. So as a normal person, 99% out of luck
I go to Dubai quite often and always off the beaten path while I'm there what I have never seen is an abandoned Supercar. I've seen wrecked supercars but, never abandoned.
Most of these cars are leased . If you got a nice job that pays well & things are going well. You can impress your friends. When the economy has down turn. There left behind by finance companies & claim them as a write off by there insurance. The world of easy credit is to blame.
Please fact check your videos before posting content as you have a large viewership. Someone in the comments basically corrected all the errors you made on this bid, unacceptable.
They didn't have a credit Bureau, or credit rating system, AT ALL, until 2017. And it's STILL not functionally up to date, in it's processes and methodology. That regions credit rating system is only a year old, both figuratively and literally in it's infancy, and neither efficient or effective yet. So yeah, up to, less than, a year ago, no credit check existed in Dubai. Even now, credit checks exist, but not all lenders who know of them, know how to do them yet. On top of that, not all lenders even know they exist yet, at all. So yeah, no simple credit check, doesn't work that way in Dubai... That's why everyone in that country lives like a king, anyone can get any loan for any amount (from the 1900's) until last year. Just as long as they make their payments, which they're gonna make, because in Dubai, if you miss a loan payment, you go to prison. So now you know...
@@BKMaster6 no I mean road crews ... When America was still expanding it's road and railway systems they used to put non violent cons to work and in exchange they'd take time off their sentences they still do it in lower security prisons where the inmates are not as big of security risks Slavery is literally let's take someone who did nothing wrong and force him to work out of fear of being beat to death
From my understanding it gets quite dusty in Dubai from all of the sandstorm activity, which may explain the poor condition of the cars seen in the photos. In conjunction to that I imagine one would be required to change their air and cabin filters quite frequently. Something we don't really take into account here in the US.
As a former resident, I can't tell you that the credit lending practices are incredibly liberal, which allows you to easily start your own business and become an importer or an exporter of goods or supplier or whatever it is you want to do. The downside to this easy access to credit is that you're held at a very high level of responsibility for ensuring that it does get paid. Think of whatever your income is and typically the amount of credit you receive can be up to 80 times that annual amount. see if you move to Dubai and got a fairly good job you're making $190, 000 a year, you may have access to credit upwards of eight million dollars. And that can be really enticing for some people. That also means that some individuals will get their new job, and try to do a cash withdrawal or purchase items on credit in their home countries like buying houmes and cars then dump the debt in Dubai and then go back home a wealthy individual. Good video, figured I would add some context. As for me I used the ability to access Credit to finance business and investment opportunities and further my career and retirement plans. Not dig myself into a giant hole of debt.
would not be advisable even if you could... all the dust and sand inside the car inside the engine all the sand in the fluids oh I would stay well away from due to all the tear down and clean up of the car. You would have to be a MASTER Mechanic to be able to fix all that's wrong with all the dust and sand in the car. NOT WORTH IT!!
As someone who lived there for 2 years I've ever seen 1 abandon super car and that was at a airport so that might not have even been from a emirate it also might not have been abandoned and btw leaving just about anything outside for a few days it'll look abandoned
It’s not always because of loans sometimes it’s when you have a lot of speeding tickets each ticket worth 30 days impoundment and some $$$ and they don’t impound your car right away after the first ticket it’s when you come to renew your registration then they see how many tickets you got so you may not see your car for years if you have a lot of tickets
Most of those cars are NOT abandoned. They looked dusty because they have sand storms there. A can will look like that after siting out for a 1-2 weeks))
:D:D:D:D// Oh my god, another one. There is no "Abandoned Supercar Epidemic", there are sand storms. This is the Arab Emirates that we're talking about. A desert :D:D:D:DD:
Im from Dubai and most of the words you said is correct but also here if you drive reckless or get a speeding ticket more than 80km/h of the speed you also go to jail but for a short period most people don’t want to go to jail so they abandon their cars in parking lots or the industrial areas where you can find a lot of abandon car projects and it’s illegal to leave your car for a long period of time in a public place so it will go to the inbound after the inbound if you didn’t pay your tickets before a year it will be sold in a auction For the people who is interested to buy inbound cars you can find it in (emirates auction) it’s the government auctions The currency 3.6 AED (almost) = 1 dollar
My grandfather told me that the indians that owned the oil leases in Oklahoma used to do the same thing when he was working there as an oilman in the 1920's. New Dusenbergs would end up run into trees and painted as road signs.
I remember when I was working in that area there was a I want to say a BMW suv in the regional international airport there that was parked shortly before my first trip there. They decided to repave the parking lot a few years later and paved around that same suv. It sat there for at least 4 years before the tires finally gave out then they were forced to remove it.
Let me clear things up (the video and people's comments)..... 1) There are NOT hundreds of super cars abandoned here! There's currently 1 super car (a Ferrari 458 ... current bid over $96,000) on the main auction site in the UAE (as at today's date) which will sell for a LOT of money. 2) emiratesauction.com sells off the cars. Any super cars are sold for 000,000's (Not for 'pennies on the dollar). 3) The cars are a mixture of seized/impounded, salvage and SOME abandoned. 4) The dusty pictures are because the cars are stored in large areas in the desert. 5) Sandstorms... we get them rarely. Maybe once a month. 6) UAE law is NOT sharia. Our countries laws are based on British and European (originally Roman) laws with some elements of Sharia included. 7) Nobody gets stoned to death out here. Wake up. Stop believing what you read in fake news sites. 8) Dubai is NOT a country. The UAE is the country which is made up of Emirates (states if you like) and Dubai is one of the Emirates. 9) We DO pay interest on loans and credit cards out here. 10) To get a loan or credit card here you must have a job (And residents visa) with a proof of income.
You do realize that the littral translation for shariah from Arabic to English is Law, right? So saying shariah law is like saying law law. And if you switch it to the other way around from an Arabs perspective and have them (and I doubt they do) reffer to USA Law they it would be called Law Shariah.
Inaccurate dude. Not keeping up with car repayments (which have interest on them) or any other types of loan does not mean prison sentence on the grounds of Shariah law. Shariah law does not allow anyone to receive or give interest, so not keeping up with such repayments against Shariah law are void. You mustn’t assume it’s “Shariah (Islamic) law” because it’s Dubai - a Muslim country. That may just be their governed law .
I've seen a few videos about this and most of the time the cars are in really bad condition .I've see videos of people actually going to the auction and looking for something worth buying,but I've never seen anyone buy a car and repair it.
Look at our president our country is a joke Dubai is amazing Qatar amazing middle eeast is beautiful you just an ignorant American who prolly doesn’t have a passport stay under that rock son lol
I agree with this. People here say I didn't pay my bills because I had other priorities... imagine if your boss had other priorities other than your paycheck.
It’s funny how people from other countries think they know more about the place some people like me and other people live in, a lot of the shit in the comments by a lot of dense mongs are wrong and so is the video.
whatever04 This is 2018 and you're still hating on religion, fuck off we get it you're an atheist. Your type of people are even worse than vapers, holy shit what has this world come to being so soft and with their safe zones, lmao you guys are all pussies
You're most likely from texas with a shotgun, a beer belly livin on a farm. See It's not nice to judge a group of people based off of a few individuals actions. It's the same shit, so don't go threatenin I'll kill them all because you're just a kid who likes to act tough behind a screen.
you mean, back in the '80s or now in 2019? :D you do know that the basic scripts for the tv series 'miami vice' were taken from real case files, and then gussied up to fit the high-rolling style of the show, right?
Please do something about your grammar 3 yr old kid. By the way you can't even get a license at this age. Sure nobody's gonna say anything if you drive your shitty toy car on the road.
We should probably have a debt law here. If you don't repay someone you basically stole from them. Why should you be able to declare bankruptcy and your lender be the one who gets shafted?
Wana hear something more mind blowing? That lambo plate @4:00 Abu Dhabi #61 is likely worth over $5 million! I am not kidding. Plates are an amazing investment as they appreciate, much better than the car lol.
Actually it’s a problem in Dubai and Abu Dhabi, I’m from uae. People are leaving not because of the loans but the job situation, over the past two years a lot of people have been let go in Abu Dhabi and Dubai. So they just sent their kids away and left.
The cars are not covered with dirt .... if you leave a car parked for just a few weeks or less they get covered with SAND! Sometimes it can happen overnight.
Dude u wrong about sharia law lol there is no sharia law it’s Dubai government law and the reason for this is because they don’t have credit or interest loan
I don’t know about the enzo but most of the cars in this video either broken or wont be registered for many reasons but most of them are broken and so expensive to fix old Mercedes and bmw are going for 10k for nice ones
You should've followed up with an actual auction to see what they are paying. Pennies on the dollar for a high end sports car?? That's total BS unless it's literally undriveable. Your whole video is based on 1 or 2 reddit posts?? WTF
Lots of those pictures are just cars parked up. Doesn’t mean they’re abandoned. Some are but I don’t think all those pictures are really abandoned cars
Hey my comment isn't about the topic of your video at all but instead it's about your fish tank behind you in the video. How much did that set up cost you and is it easy to maintain? Looking into purchasing something just like that for my 2 yr. old son. I've only ever had gold fish in my life. A serious and genuine response is appreciated. Thanks for your time. J
Why would anybody sell a luxury sports car on credit in the first place? If a buyer can't afford to pay for a luxury sports car 100% up front, that is the first gigantic clue that the buyer is already living beyond their means.
While most of what your saying is true, people do abandon cars etc when they default on their loans or lose their jobs, it’s not as easy as that to actually buy a super car at auction. The turnaround is way longer than that usually a year plus, which is why the cars in the video are so dirty, then when you buy at auction, you have to pay the auction price + outstanding fines on the car + the amount owed to the bank for that car, and then you have to take into account that the car has been sat outside for at least a year in upto 50C heat, so it’s going to need a lot of restoration work on it to get it back to working order. The cars that have the best deal at auction tend to be cheaper fleet cars from companies that have gone bust, they have a quicker turnaround and are cheaper to repair with less loans. Been living here 7 years for context :)
