Abandoned cars of Dubai
Discussion
http://directorblue.blogspot.com/2009/09/things-ar...
Is it really as bad as this page suggests?
Anyone got anymore stories of Dubai's abandoned cars?
Is it really as bad as this page suggests?
Anyone got anymore stories of Dubai's abandoned cars?
Or888t said:
http://directorblue.blogspot.com/2009/09/things-ar...
Is it really as bad as this page suggests?
Anyone got anymore stories of Dubai's abandoned cars?
that articles almost a year old.Is it really as bad as this page suggests?
Anyone got anymore stories of Dubai's abandoned cars?
TheEnd said:
The XJ 220 is more in someone's yard, not just out on the street, and has a lazy owner somwhere.
As for Dubai, Debt isn't looked on favourably , so anyone with stuff on finance, who would declare themselves bankrupt in the UK has to just flee the country instead.
Dubai must be a hotbed of self loathing then. As for Dubai, Debt isn't looked on favourably , so anyone with stuff on finance, who would declare themselves bankrupt in the UK has to just flee the country instead.
Dick_Phallus said:
TheEnd said:
The XJ 220 is more in someone's yard, not just out on the street, and has a lazy owner somwhere.
As for Dubai, Debt isn't looked on favourably , so anyone with stuff on finance, who would declare themselves bankrupt in the UK has to just flee the country instead.
Dubai must be a hotbed of self loathing then. As for Dubai, Debt isn't looked on favourably , so anyone with stuff on finance, who would declare themselves bankrupt in the UK has to just flee the country instead.
Yep, another Dubai PHer here calling the hype on the article - the story was picked up by most of the UK national papers early last year and ended up as a story of thousands of cars left at the airport with their keys in. Not true.
People do occasionally leave cars in the street here when they depart but only as a last resort, partly because almost all of the finance deals are spread over five years.
It is noticable only because the banks are very very slow to recover the assets (they've never had to before) and because after a week an unused car will stand out due to the amount of dust that will have settled.
The level of auto loan repayment failure is probably no higher than the UK; but the banks there will quickly recover and sell on the asset to cover their risk so you just don't see it.
People do occasionally leave cars in the street here when they depart but only as a last resort, partly because almost all of the finance deals are spread over five years.
It is noticable only because the banks are very very slow to recover the assets (they've never had to before) and because after a week an unused car will stand out due to the amount of dust that will have settled.
The level of auto loan repayment failure is probably no higher than the UK; but the banks there will quickly recover and sell on the asset to cover their risk so you just don't see it.
deevlash said:
Dick_Phallus said:
TheEnd said:
The XJ 220 is more in someone's yard, not just out on the street, and has a lazy owner somwhere.
As for Dubai, Debt isn't looked on favourably , so anyone with stuff on finance, who would declare themselves bankrupt in the UK has to just flee the country instead.
Dubai must be a hotbed of self loathing then. As for Dubai, Debt isn't looked on favourably , so anyone with stuff on finance, who would declare themselves bankrupt in the UK has to just flee the country instead.
You may notice that all of the news around Dubai debt restructuring was to avoid a defaulting situation, and was in fact linked to businesses, not the nation itself. All very similar to the UK story, it's just that in Dubai it has generally been led by property developers (who still own fairly respectable assets) as opposed to UK banks (who generally now own several blocks of heavily mortgagaed New Orleans slums!)
Obviously I'm going to defend the place as it is my home, and given the choice of the UK and here I know where I'd rather be!
Now where is that XJ220....
Hitch78 said:
and because after a week an unused car will stand out due to the amount of dust that will have settled.
I cant leave my bloody car more than a day at the moment without it looking unused! Stupid weather! I'm paying more to keep it clean than I am filling it with fuel every week!!
t. It was left at a guys garage for work to be done. The owner of the garage even came on PH and said so!Gassing Station | General Gassing [Archive] | Top of Page | What's New | My Stuff