The issue is due to the infilteration of filthy car dealers. I had bought a used car recently. Majority of the sellers were dealers selling cars at high prices. I have also noticed a trend that dealers are buying a lot of used cars and selling them on lease at high markups. This is a recent trend and it was not the case about thirteen years ago when I had last bought a used car from a genuine seller in excellent condition.
During the car buying stage, I had noticed strange tactics of these dealers. Many are selling used cars from their own homes or that of the friend in posh locations to pose as genuine sellers. I had asked one seller who had mentioned his home address for car inspection why the car was on open letter. He told me he was a big real estate businessman with multiple cars so he did not had time to register his cars. Later on, from a nearby shop I learned he was a car dealer.
Some dealers are letting their 11 12 year old children answer the call to dupe sellers into believing they are genuine sellers. The cars were on open letter and I was surprised to hear salesy talk about their cars by kids. Pathetic!
The high prices of used cars is not due to real demand and supply but an artificial demand and supply created due to the use of haram loans by agencies. Real estate and car agencies use credit loans to buy assets enmasse and force people to buy them at high prices.
The current high real estate prices is also due to the cursed dealers. They have bought huge swathes of land using credit locally or from Dubai. The lack of regulation on part of the govt. is also to be blamed. They are either naive or part of this filthy agency business.
After realization of this fact, I have decided never to sell cars or my house to dealers. I intend to sell my car at a reasonable price with no markup to genuine buyers only, even if it takes an eternity to sell them. I also beleive that it is not ethical to 'hold' multiple tracts of land to create scarcity to push up the prices. Real estate and used car buying selling business may not be haram per se in the religion of Islam but for the sake of humanity the business should be banned.
We all have a responsibility to fight against these profit mongrers who are engaged in this filthy business pushing up the prices of basic necessities using legal but unethical tactics. I suggest PW create a section where it states whether the car is on open letter or sellers name. This would discourage dealers from taking over the platform as is the case at present. I could not find one genuine seller in the market. All were dealers selling on open letter.
To all the dealers reading the post, I suggest you get into a real business rather than making easy money and literally stealing hard earned money of the masses.
