GAZZUZZ:
Car sales .


Since there is no restriction to who can import and sell a car, the market is very diverse.

The actual people who sell cars for a living are having a hard time competing with people who sell cars on the side.


A 2003 Toyota Corolla clean title will land Nigeria at about ₦1,940,000 naira , it will be put up for sale for about ₦2,100,000 and finally sold for about ₦2-2.03m in 1-2weeks

A profit of ₦less than ₦100,000 on an investment of roughly 2m and wait period of about 3months, with associated risk.


Now you have people who have relations outside the country who I would like to call recreational sellers, they do not sell cars for a living, they do not know how much these cars cost, all they do is wait for Obinna to send a car down, Obinna tells them the last price and they put it up for sale . After 2-3months of not seeing a buyer the price starts to drop out of frustration and finally a car that landed at say ₦1,000,000 would end up being sold for ₦900,000 with thank you


Cars are now very expensive, cat dealers are not finding it easy and have to source for cheap dollars to stay afloat, the dubious ones have to search for badly salvaged cheap vehicles to make more profit, they also have to cut more corners at the port to shortpay on custom duty to cover up for the shortfall in returns.

So this is the best time to really pay attention to vehicle info before paying for it.
https://www.nairaland.com/carguide

Run a vin report, check the custom duty, and stop chasing after cheap cars, you are most likely buying trouble .


May God help us in Nigeria.

chrisifeanyi:
No be small thing. I dey pity dem. Please I need foreign used Lexus RX 350 2009. It must be very neat with good title

articlewriter:
Innoson cars accepts Naira not dollar. Let us grow our Naira

adonainana:


It’s normal economics for price of a Nigerian used to go up.

So then is when you remember economics,

What about the depreciation of the Nigerian used vehicle he wants to sell

All of a sudden you remember economics now but you’ve forgotten every machinery wil depreciate and be of less value as time goes on . We shouldn’t even start talking about how old the cars are

The site you said I should go on I went on there, there are not brand new cars my friend they are foreign used cars, some accidented some with fault, it’s quite unfortunate if you allow someone to sell a 20 year old car to you for 3,000 dollars for you to want to come and sell to come
And sell the foreign car ( tokunbo ) to unfortunate Nigerians

peeps4u:


The rate at which dollars has increased easily overrides that.
Imagine someone that made $1k weekly/monthly (about 190k-200k) in 2015, today, same $1k is about 500k. Will that person worry about tomato price when he makes 500k weekly/monthly?

Increasing dollar-naira rate pays people that earns majorly and high in dollars.

calculusx:


The matter tire me menn. . You buy $ #450 at the time of Purchase. Time to pay for Shipping you'll buy $ @ #470, before the Car gets here and you are ready to sell $ has gone up to #500.I'm frustrated

https://www.nairaland.com/6266078/clean-title-2004-toyota-corolla

$2093 + $1400 x #450 = #1,547,550 + 500,000 = $2,047,550. I can't even boast of 50k profit as there are still little things to fix

Lucas4903:


Dont even go there, I will land a 2003 Corolla at 1.4 sef....1.9 ko.....10milion ni. I am not an auto dealer but I have bought for friends from where I live. I no dey do deals ooo. But truth be told.

blackedwin:
2013 Toyota Camry SE 4.65M hit me if you're interested. Cheers

ATEAMS:
Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth.

chrisifeanyi:
No be small thing. I dey pity dem. Please I need foreign used Lexus RX 350 2009. It must be very neat with good title

Ganzoh:


I am your plug for a very good deal

chukel:
lies. Just break it down lets see your landing cost. Purchase price, trucking, shipping, clearing. Do the maths let's see.

chukel:
lol. Na una wey de go buy corolla. I dont do corolla. I don't. No point.

Abimby:


I have a clean title, will arrive on 25 December

calculusx:


It's applicable to other Cars too. The funny thing is, despite scarcity of forex, cost of Purchase is still high.

promzy555:
give me your WhatsApp number

Lucas4903:


Dont even go there, I will land a 2003 Corolla at 1.4 sef....1.9 ko.....10milion ni. I am not an auto dealer but I have bought for friends from where I live. I no dey do deals ooo. But truth be told.

chrisifeanyi:
No be small thing. I dey pity dem. Please I need foreign used Lexus RX 350 2009. It must be very neat with good title

BabaOwen:
You're wasting your time on that guy

I totally gave up on him when he asked how burns boy and wizkid song is affecting the price of garri in the market

Like seriously

Ignorant people full Nigeria.

Lucas4903:


Dont even go there, I will land a 2003 Corolla at 1.4 sef....1.9 ko.....10milion ni. I am not an auto dealer but I have bought for friends from where I live. I no dey do deals ooo. But truth be told.

Lucas4903:


Dont even go there, I will land a 2003 Corolla at 1.4 sef....1.9 ko.....10milion ni. I am not an auto dealer but I have bought for friends from where I live. I no dey do deals ooo. But truth be told.

chukel:
lies. Just break it down lets see your landing cost. Purchase price, trucking, shipping, clearing. Do the maths let's see.
Nb. Went thru your profile and comments. I like your reasoning a lot. We need your likes down here. All the best bro. However, i still need you to counter my view.

adonainana:
Nigerians are greedy people
Yes dollar has increased but surely the levy import levy on imported cars has been slashed. So how come the effect can’t and won’t be seen by people buying tokunbo cars

Nigerians are greedy people and would exploit any situation. Any price of anything that goes up in Nigeria through chance, luck or pure economics never goes back down when every parameter has been fixed

Tokunbo cars aside, let’s say it cost 1.5million to import a tokunbo Toyota Camry 2009 to Nigeria. And the seller wants to make his own profit and sells for 1.9 million

Please what about used Nigerian cars, how come all of a sudden it is now expensive, like which part of forex deals with Nigerian used cars that has been used on Nigerian roads.

Too much greed in this country and sometimes if you say too much, people would be like if you can’t afford it, shift and same people want corruption to end, sars to end, nepotism to end. Like una never serious yet

Finally this country is a time bomb, imagine sellin a 2006 car for $3,000 (1.4 million )

Imagine a 14 year old car that the Oyimbo manufacturers have even forgotten they made 14 years ago still selling for millions in a third world country that produces nothing of its own and only imports everything to sustain its lifestyle smh

lekki1444:
bro this how it works, these musicians bring billions of naira of investment into the country. because of whizzkid and davido and burna boy many americans and british are coming to nigeria as tourists. thats easily a billion plus naira industry. go to the island it is full of young americans spending cash who came to see burna boyy and rema and davido and whizzkid. its booming. especially this detty december ? brother stop bbeing ignorant. educate yourself. this is 2020 bro, ignorance is no longer cool

tonididdy:

Haha you mean young half cast polithiefcian children

Idiot.... What tourist in his right senses would come to Nigeria?
... If you were a tourist, exactly what are you coming to Nigeria to see?

Lucas4903:


Like I said bro. Dont go there at all. The dealers are business men and they should make good profit i am not against them. But this is what I have done time and time again. They are lies because u have believed what u want to believe. Ain't arguing jaree. Best of luck

PotatoSalad:

You look at what the person earns and forgot about inflation.
PlayStation 5 is 240k @480/$ when it shouldn't be more than 80k.
Always look at inflation. Even if the increased rate favours your earnings, you aren't gaining much if price of items are 5x their original price.