RIYADH: Car markets in the capital are buzzing at night as people try to sell and buy vehicles.

“Owners sell their cars in Ramadan to buy new units. Their happiness in anticipation of this is creating a festive atmosphere,” said a Saudi showroom manager in Nasseem.

Ibrahim Al-Ogaili, a Saudi journalist, said he recently purchased a new vehicle. “It’s a gift to myself,” he said.

Second hand car showrooms can also be found in Manfouha, Sulay, and other places in the Saudi capital.

Another showroom manager said that cars are normally sold after five years because that is when they start giving problems, with repairs and spare parts becoming costly.

There are also long waiting periods for the repairs to take place. “Moreover, it’s a sheer joy to drive a brand new car,” he said.

In an attempt to maximize revenues, showrooms send their staff or representatives out in the streets to look for possible sellers. They can be seen going up to people asking if they want to sell their vehicles.

He said that sellers know the market value of their vehicles because they have asked their dealers about it.

“However, we can haggle for a lower price. We resell the unit later for a bigger amount. The more cars we buy the better for us because we make more profits,” he said.

Transaction are speeded up because showrooms help facilitate ownership transfers.