Organized by stage, from sign-up to payout.
Merchant signs up and gets verified to trade on the Yakan platform.
Yakan buys used cars and places them with an approved Merchant to hold, market and sell on Yakan's behalf. Yakan keeps legal ownership of the car. The Merchant's role is limited to possessing, marketing and selling it.
No. Yakan is a used car trader that partners with Merchants to help them grow their business. Yakan buys the cars and owns them; the Merchant acts as an independent contractor and, solely for marketing and selling the car, as Yakan's commercial agent.
Prospective merchants need to download the Yakan app, create a Merchant account, and get verified before they can start trading.
Merchant finds a car to buy and submits it to Yakan. Application is reviewed within 10 minutes.
Yakan buys most car makes and models — currently around 60 in total — all listed on the website. Eligible cars must be GCC-spec, model year 2018 or newer, and must not have been in any major accident or have any of the following issues: airbag deployment, chassis damage, mileage rollback, or engine or gearbox problems.
The Merchant pays a SAR 500 Inspection Fee. Yakan then purchases a Mojaz Report. If the car fails the Mojaz report, the Merchant is refunded SAR 400 from the Fee. If the car passes the Mojaz report, the Merchant must then schedule a Purchase Inspection. The Merchant has 72 hours to present the car at an approved inspection center.
The car is taken for an inspection.
If the car fails on one of the defined “Major Fail Criteria” — engine failure, chassis damage, airbag deployment, gearbox failure, or evidence of mileage tampering — Yakan will not proceed with the transaction.
Yakan will approve the car for purchase if it passes the inspection.
Merchant negotiates a Purchase Price with the seller and sends Yakan the deposit. Yakan then buys the car in its own corporate name.
The Consignment Period is the number of days the Merchant has to sell the car. When the Merchant submits a car for purchase, they must choose the Consignment Period upfront: either 20, 40, or 60 days. The car must be sold within the Period chosen and cannot be extended.
Yes, up to a limit. The Merchant can submit a request to buy car at any price (the Purchase Price) as long as it is not greater than 10% above Yakan's own internal valuation.
The Merchant is required to provide a deposit (the Merchant Deposit) to Yakan, which will be between 10-20% of the Purchase Price and is calculated based on the specific car during the application process.
When the Consignment Period and Purchase Price are confirmed by the Merchant, Yakan will calculate the Floor Price, which is the minimum amount the Merchant owes Yakan for the car once it's sold. The Floor Price never changes. Yakan's profit is the difference between the Floor Price and the Purchase Price.
If the Merchant Deposit is not paid within 24 hours of Yakan's request, Yakan may walk away from the purchase. If the Merchant pays the Purchase Deposit and the deal is later cancelled, the full Merchant Deposit is refunded.
Merchant keeps the car to market and sell it during the Consignment Period.
Yakan buys the car and transfers the title to the company's name. The Merchant will be allowed to keep the car for marketing and selling purposes during the Consignment Period.
The Merchant is only permitted to drive the car to show it to prospective buyers or for other purposes directly tied to selling it. Personal use, commercial use, or any other use, is strictly prohibited. There is a mileage limit of 100km per day, capped at 700km per rolling 7-day period. Mileage over that is billed at SAR 0.50/km, invoiced monthly or at return.
The car will have comprehensive insurance, paid for by Yakan but added to the cost basis of the car on a daily pro-rated basis. The Merchant is added as an “Authorized Driver” on the car's insurance policy, and only Authorized Drivers may drive it. If there is an accident, the Merchant is liable for the insurance deductible plus a SAR 1,000 penalty, on top of any other liability for damage to the car or any resulting increase to the insurance premium charged by the insurer.
No — the Merchant cannot cancel early. The agreement ends only when the car is sold to a third party or bought by the Merchant. Anything else is considered a breach of the Agreement.
Merchant sells the car at any price. Yakan takes its Floor Price and the Merchant keeps all remaining profit — no limit.
Whichever Consignment Period was chosen and confirmed at the offer stage (20, 40, or 60 days). You don't have to wait out the full period: you can complete a sale as soon as you find a buyer.
Yes, at any price you like above the Floor Price. Yakan keeps the proceeds from the Floor Price and all proceeds above that contribute to the Merchant's profit, with no limit. If the Merchant needs to sell the car below the Floor Price, the Merchant will take a loss that will be taken from the Deposit.
Yes, at any point during the consignment period (or at the end of it), the Merchant can keep the car by paying the Floor Price to Yakan. The Deposit counts toward the Price.
The agreement ends either when the Merchant sells the car or buys the car from Yakan at the end of the Consignment Period. Yakan calculates the final profit and pays the Merchant within one business day.
All costs related to the purchase and operation of the car are added to its final cost before calculating profit. These costs include: the Mojaz Report Fee, Purchase Inspection Fee, title transfer fee, insurance, Istimara renewal, and the Government Fahs (roadworthiness test) fee. Insurance is charged to the Merchant on a daily pro-rated basis for the number of days the car was in inventory.
The Merchant requests a sale on the App and Yakan approves it. Yakan will then transfer the title directly to the end buyer and receive payment from them. Once the transaction is completed, Yakan calculates the profit on the car based on the total cost build-up described above.
The Merchant has three options at the end of the Consignment Period:
1. Buy the car from Yakan at the Floor Price. The Deposit already paid counts toward that Price, so the Merchant only needs to fund the remaining balance.
2. Request a one-time extension. Extensions are approved only as a one-off, case-by-case decision — it is not guaranteed. An approved extension is only granted once, for a fixed 20 days.
3. Do neither, which is treated as a breach. In the event of a breach of contract, the Merchant forfeits their Deposit in full, and Yakan reclaims the car (including any damage beyond fair wear and tear at that point). The Merchant will be de-registered and banned from using the Yakan platform in the future.
The physical, in-person inspection of the car at an approved inspection center, used to confirm its condition. The Merchant has 72 hours from paying the Inspection Deposit to present the car for this inspection.
The defects that cause Yakan to reject a car outright at the Purchase Inspection: engine failure, chassis damage, airbag deployment, gearbox failure, or evidence of mileage tampering. If any apply, Yakan does not proceed with the purchase and the Merchant forfeits the full Inspection Deposit.
The number of days the Merchant has to sell a car once Yakan has purchased it. The Merchant chooses 20, 40, or 60 days upfront, at the offer stage; once chosen it is fixed and cannot be extended.
The fixed amount the Merchant owes Yakan for the car, agreed upfront and never changing regardless of what happens afterwards. It is paid to Yakan out of the sale proceeds when the Merchant sells the car, or directly by the Merchant if they buy the car during or at the end of the Consignment Period.
The price the Merchant negotiates and agrees with the seller to actually buy the car for. It can be up to 10% higher than Yakan's internal Valuation.
The amount that the Merchant is required to send to Yakan prior to the car purchase. The deposit can be as low as 10% and up to 20% of the Purchase Price.
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