Recently, different news and rumors have made round around the world regarding luxury cars being left abandoned and unattended at airports all across United Arab Emirates. Who do these luxury cars belong to? The general opinion is that these luxury cars belong to those panicked and worried expats who are fleeing the country so that they can avoid sentence in prison due to the money that they owe.
A limited edition Ferrari Enzo was recently found abandoned by a British expat in Dubai which is said to be worth greater than $1 million. This expat was allegedly known to be a loan defaulter for this car and had fled the area to avoid possible imprisonment. It is worth mentioning that non-payment of a loan is considered a criminal act in all of the Middle East where Sharia law is in practice. Since United Arab Emirates has no laws regarding bankruptcy, there is also no protection present for those who slip into debt either deliberately or accidently. Several cases have been reported in which foreigners were stopped from leaving Emirates on account of being blacklisted because they had missed a credit card payment or a cheque had been bounced.
However, these abandoned luxury cars cannot be attributed to fleeing expats in United Arab Emirates only. When asked, a British expat said that only the foreigners are not to be blamed for this act of abandoning luxury cars because they want to avoid imprisonment due to non-payment of debts. This irresponsible act can be observed in the locals also.
The consequences of the financial crisis that plagues the entire world have had an influence on people from several different walks of life and not only the foreign workers. People took large loans so that they could boast fancy cars. However, when things slowed down financially in their lives and they struggled to make the remaining payments, they fell into debt. This scenario has affected locals and foreigners alike.
One of the greatest drawbacks of these abandoned luxury cars is that they occupy much-needed parking spaces at the UAE airports. On the other positive hand, these luxury cars were auctioned at bargain prices by the police once they were taken into custody. Once a vehicle is observed to be abandoned, the inspectors of the local Government Issue a warning to the owner. In case of failure to respond to this notice within the time period of 15 days, this car is brought to the police scrap yard where people can reclaim it on used car sale.
