Buying and Selling Cars in Nigeria
There are several means of transportation in Nigeria such as by airplane, trains, cars and motorcycles. However the most popular and convenient way people in Nigeria often move around is by cars and other vehicle types. Just like we see in Lagos, Abuja and other big cities where we have always traffic jam because of too many cars driving on the streets which is however being affected by car sales in Nigeria. Each day we find new and used cars for sale imported into the country and sold to people at different prices depending on the brand and year of car.
Types of Cars sold in Nigeria
Brand New Cars in Nigeria: These cars are mostly imported from South Africa and Dubai majorly because we have the same terrains and climate so cars produced in this region are suitable for the Nigerian environment. Brand new cars are often sold at high prices which is actually worth it because of some special packages like after-sale services and etc. Brand new cars available in Nigeria is mostly distributed by authorized licensed dealers that offer these new vehicles to the general public as well as brand new auto spare parts. There is also the made in Nigeria cars that gradually picking up in the local automobile with future plans of many vehicle brands plans to set up manufacturing plants in Nigeria.
Tokunbo Cars (Foreign Used Cars) in Nigeria: These are cars that have been used outside the country before; which are usually imported from America, Canada, Germany, Cotonu, Belgium and other different countries. These type of fairly used cars for sale in Nigeria make up a majority of the percentage of the vehicle market cause of its affordability and demand. The used vehicle market in Nigeria are usually by car brands like Toyota, Honda, Lexus, Acura, Nissan, Mercedes-Benz, Ford, Land Rover, Infiniti and etc which happens to be the most popular brands being imported into the country. However the used vehicle market is also made up of salvage or accident vehicles that have been imported from foreign countries and repaired into good condition before offered for sale. Due to the increasing number of slightly damaged cars in Nigeria, both new and used spare parts are widely available in many Nigerian cities to repairs. Factors that contribute to pricing of tokunbo cars for sale in Nigeria include general vehicle condition, mileage, year of manufacture, cost of buying and clearing vehicle at the port.
Nigeria Used Cars (Nig Used Cars): These are cars that have been used and registered in the country already and are being sold, most of these cars are just parked on the road side and a plastic bottle is placed on it to indicate that it is for sale. They are fast selling cars since they are being offered at very affordable prices. Brands like Peugeot, Volkswagen, Opel and Mazda are often sold as Nig used cars. Pricing of Nig used cars in Nigerian often depend on general vehicle condition, registration year, vehicle model and year make and many more.
How is the Automotive Industry in Nigeria
Given the recent decision of the Nigerian government to raise the tax on imported cars to 75% and roll out the Nigerian manufactured cars such as (Nissan). This will lead to an increase in the price of tokunbo (foreign used) cars and will also affect the cost of Nigerian used cars as anyone selling their Nigerian used car will prefer to replace or buy a new one. On the other hand the cost of these brand new cars might be affordable as we await their prices and if they are truly affordable then it will probably affect the demands of Nigerians as the cars will fit into their budget. This will hopefully boost trade in the automotive industry and in turn make Nigerian used cars very affordable too. Nigeria spent a whooping sum of N1.2trn on the importation in the year 2013; this only goes to show how much we spend on cars and gives a wide range of how many cars we purchase. Majority of these cars being purchased are SUVs because of the rough terrain and not up to standard roads we have in the country, Nigerian's prefer to purchase more of off-road vehicles (SUVs).
Check out more information on listings from trusted local dealers and private sellers in your cities;
What are the Popular Cars in Nigeria
There are several car models that have dominated the car market in Nigeria. And for that reason most car dealers focus is on importing different year models and specifications of these known vehicles from other car markets. These car models are considered by most buyers as reliable, fuel efficient, durable and affordable. Nigerians buy good priced popular car models for both private and commercial use. The common vehicles that are offered for sale on the vehicle market are often found as tokunbo or Nig used versions being sold either by local dealerships or private sellers. The most popular car currently in Nigeria comes from the brand Toyota with likes Camry,Corolla, Highlander, 4-Runner and RAV4 which is followed by Honda cars like Accord, Civic, Cross-tour, CR-V and Pilot.
Other cars like the Toyota Sequoia, Toyota Sienna, Acura MDX, Lexus GX, Lexus RX, Mercedes-Benz C-Class, Volkswagen Golf, Nissan Xterra and etc are also well known models in the country.
What is the Average Price of Cars in Nigeria
The average tokunbo car (foreign used) goes for two-third of what a brand new one goes for, the basic calculation for trading in a car is a 25% depreciation rate every year and also if it has been maintained regularly and as at when due, putting all these factors into consideration you can use this as a negotiation tactic when buying your next car. For buying a Nigerian used car it is a little bit more tricky as people do not have service history and duration of usage recorded or properly documented, but it is given that a Nigerian used cars(Nig used cars) typically goes for half of the market price of a tokunbo one depending on usage and maintenance and for one that was not used for long and doesn't have any previous issue is usually sold for about two-third of the current market value of a tokunbo one.
Below is an estimated price of both new and used cars from trusted local dealers on Carmudi;
New Toyota Camry: 9 Million Naira | Used/Tokunbo Toyota Camry: Below 7 Million Naira
New Toyota Corolla: 7 Million Naira | Used/Tokunbo Toyota Corolla: Below 4 Million Naira
New Toyota Highlander: 13.5 Million Naira | Used/Tokunbo Toyota Highlander: Below 9 Million Naira
New Toyota RAV4: 9 Million Naira | Used/Tokunbo Toyota RAV4: Below 7 Million Naira
New Toyota Venza: 12 Million Naira | Used/Tokunbo Toyota Venza: Below 7 Million Naira
New Honda Accord: 9 Million Naira | Used/Tokunbo Honda Accord: Under 6.5 Million Naira
New Lexus RX 350: 11 Million Naira | Used/Tokunbo Lexus RX 350: Under 8 Million Naira
New Range Rover Sports: 24 Million Naira | Used/Tokunbo Range Rover Sports: Under 15 Million Naira
New Mercedes-Benz G-Class: 45 Million Naira | Used/Tokunbo Mercedes-Benz G-Class: Under 30 Million Naira
New Nissan Almera: 4.5 Million Naira | Used/Tokunbo Nissan Almera: Under 3.5 Million Naira