We live in a world where everything keeps changing and needs arise, so much that when you cannot meet those needs, it can put stress on both your personal life and career. And one of those needs is the desire to own a car. The need to have a car is widely spreading among most individuals and this is because it proffers a way to commute from one place to another without having to worry about waiting to get a bus to transport you.
However, the rate at which the prices for new cars are getting costlier by the day is alarming. And this has made it quite discouraging for commoners who are interested in buying a car to even think of moving forward with their desire because of the high value of the purchase. Nevertheless, the irony about these new modern cars is that “As the prices are increasing, so is the average life span of the cars decreasing.”
And as the manufacturer of these cars is releasing newer versions of their models, more modern cars are being shipped into the used car market. This has made it easier for lots of people to purchase used cars in Nigeria often called “Tokunbo” or “Second-hand cars”, without having to run into debt or use up all their savings.
Where to Buy Cars in Nigeria
1. Car Dealers
The most common way to buy a used car is to find car dealers that have the type of car you want and buy from them. Their prices are usually more expensive than importing the car yourself or buying a Nigerian used car from someone in Nigeria but you get many options to choose from.
2. Jiji
This is a popular online marketplace in Nigeria where you can find new, foreign used and Nigerian used cars of all types for sale from individuals and car dealers. Be careful to avoid getting scammed by fraudsters posing as genuine sellers on the platform.
3. Autochek (Formerly Cheki)
Cheki was one of the first online car sales platforms in Nigeria and it was recently acquired by Autochek. You can find used cars for sale on Autochek and also pay in installments with their vehicle financing plan.
4. Auction Export
This is a foreign website where you can buy cars directly from abroad and ship to Nigeria. You can buy good used cars for cheap prices on this website but it will cost you a lot of money to ship it to Nigeria and to clear it with customs at the port. Do this only if you have someone who can help you clear your car easily.
5 Reasons Why Buying A Used Car Is A Good Decision
Getting a used car is considered the best choice to make if you’re considering getting a second ride or you’re buying the car for the first time or changing from boarding public transportation from work to home and vice-versa. Here, I’m going to share with you 5 reasons why you should consider getting a used car in Nigeria.
1. It is cost effective
Getting a used car helps you save back more money than you would get a brand-new one. This is because as new cars are being shipped into the used car market, the value of the original price for those cars decreases by 7-10% depending on the year the car was manufactured. This means that you’ll be paying a lesser price to get that car.
2. You pay a lower price on insurance
The price you pay alone on taxes while shipping in a brand new car can cost as much as the price of the original car or half of it. And each of the insurance costs varies based on the value of the car, your age and your driving history. However, getting yourself a used car means you’ll be paying lesser costs on insurance coverage.
3. You can enjoy a tension-free drive
Gone are those days when people avoid getting a used car because of the stigma it carries and the risk most drivers see it as – now, drivers can check the reports on the vehicle using websites like CARFAX to see the history. This will enable them to have considerably detailed information about the car’s mileage verification, accident history, title status and ownership history before deciding to purchase it.
4. Low depreciation
The rate at which used cars depreciates is lower compared to a brand new car. It can be said that a new car has a higher rate of depreciation within the first two to three years of purchasing it. And by the time you as the second user will be purchasing it, it would have undergone a great phase of depreciation. This means that the money you’re going to lose will be less compared to having to bear all the cost of the vehicle’s depreciation.
5. Warranties
This is something you get to enjoy when you get yourself a used car and the reason is that, some used cars are yet to exceed their years of the original warranty. So you have the privilege to request a refund or repair from the dealer with the remaining years of the warranty.
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