As of 2019 when dollar was 360, a price of nigeria used 2008 toyota camry was $3k and now that same 2008 nigeria used car is going for 4300. Can someone tell me the reason?

htdot:
As of 2019 when dollar was 360, a price of nigeria used 2008 toyota camry was $3k and now that same 2008 nigeria used car is going for 4300. Can someone tell me the reason?

Import, clear, and do minor or major fixes to your own 2008 Camry toks car, pay car stand fees /rent, and then sell as you deem fit..


What that experience will teach you, non of us can.

Even if we try to explain to you, you go still argue.. So do am yourself make you see as e dey be

The guy above me has a good point but it is a mixture of both greed and external factors. The government is not helping at all. People above average can't even dream of driving the latest camry whereas the latest camry abroad is as cheap as 26k and most average people can easily afford it. In fact, less than 5% of Nigerian population can boast of ever owning a tear rubber vehicle.

I will say, the government owns the greater portion of the blame. Super clean few months naija used 2010 lexus es 350 sold for less than 3.3m less than two years ago, today, you can't get same grade for 5.5m.

The heightened import duty imposed on vehicle importation coupled with the almost useless naira are the major causes of the northward movement of vehicle prices in corn tree

htdot:
As of 2019 when dollar was 360, a price of nigeria used 2008 toyota camry was $3k and now that same 2008 nigeria used car is going for 4300. Can someone tell me the reason?

lets do the mathematics together..
Buying a Camry then was @$3000
Shipping $1000
Exchange rate then was 360 for naira to a dollar.
Clearing then 400k
Cost of car including shipping $4000 x 360naira
= 1,440,000
+400,000(clearing)
Grand total = 1,840,000(landing cost for camry 2019)
Now 2023

Exchange rate now 750 for naira to a dollar.
Clearing now 1.5m

Cost of car including shipping $4000 x 750naira
= 3,000,000
+ 1,500,000 (clearing few)
Grand total: #4,500,000
This is the clearing price as of last year

soloehis:
lets do the mathematics together..
Buying a Camry then was @$3000
Shipping $1000
Exchange rate then was 360 for naira to a dollar.
Clearing then 400k
Cost of car including shipping $4000 x 360naira
= 1,440,000
+400,000(clearing)
Grand total = 1,840,000(landing cost for camry 2019)
Now 2023

Exchange rate now 750 for naira to a dollar.
Clearing now 1.5m

Cost of car including shipping $4000 x 750naira
= 3,000,000
+ 1,500,000 (clearing few)
Grand total: #4,500,000
This is the clearing price as of last year

Bro, let bill everything in dollar, since is a foreign item.

Clearing of 2008 toyota camry then was 500k which was equivalent to 1.390k using 360k as the rate.
You buy the car in auctions for 2500 in texas , towed it for 300 to the seaport, ship it for 1200 and the clear it for 1390 and then profit to be 300. Lets add this up and convert it to the current exchange rate of 750. Thats about 5390 , convert this to naira which is 4m for foreign used camry but you guys are selling it for 4.8m. No be stealing be that. And nigeria used should be 35% less than the actual price of 4m, which would have been 2.6 m for a nigeria used camry but you guys are selling it for as high as 3.3 m

henro4niger:
The guy above me has a good point but it is a mixture of both greed and external factors. The government is not helping at all. People above average can't even dream of driving the latest camry whereas the latest camry abroad is as cheap as 26k and most average people can easily afford it. In fact, less than 5% of Nigerian population can boast of ever owning a tear rubber vehicle.

I will say, the government owns the greater portion of the blame. Super clean few months naija used 2010 lexus es 350 sold for less than 3.3m less than two years ago, today, you can't get same grade for 5.5m.

The heightened import duty imposed on vehicle importation coupled with the almost useless naira are the major causes of the northward movement of vehicle prices in corn tree

I agreed with you that everything about has double recently, but they shouldnt over estimated it. If as at 2019, a 2008 lexus was sold for 3.3 million given the exchange rate, that same car should exceed 6.6 million but this same car dealer will be selling this stuff as high as 8 million, that’s crazy. If as of 2019, 2008 camry was sold for 1.8, today that same car shouldn’t exceed 3.9 m. Even if you want to blame the hyper hike on the current clearing fee, remember that 1 m is equivalent to 1390 dollar which is the same as 500k in 2019 for clearing that same camry.

Greed because Naija used sef went up.
Tell me which clearance and custom fees Naija used dey pay.

Greedy thieves!

buygala:


Import, clear, and do minor or major fixes to your own 2008 Camry toks car, pay car stand fees /rent, and then sell as you deem fit..


What that experience will teach you, non of us can.

Even if we try to explain to you, you go still argue.. So do am yourself make you see as e dey be

Does your theory also explain while the cost of Nigerian used cars are now higher than their cost price in or before 2019?
Someone recently put the selling price of his Nigerian used Lexus 350 he bought 3.5m as a Tokinbo in 2018 at 5.5m.

htdot:

Bro, let bill everything in dollar, since is a foreign item.

Clearing of 2008 toyota camry then was 500k which was equivalent to 1.390k using 360k as the rate.
You buy the car in auctions for 2500 in texas , towed it for 300 to the seaport, ship it for 1200 and the clear it for 1390 and then profit to be 300. Lets add this up and convert it to the current exchange rate of 750. Thats about 5390 , convert this to naira which is 4m for foreign used camry but you guys are selling it for 4.8m. No be stealing be that. And nigeria used should be 35% less than the actual price of 4m, which would have been 2.6 m for a nigeria used camry but you guys are selling it for as high as 3.3 m

clear @ 1390 is not realistic .u can import to save you from been cheated..i bet you that's when you will understand how deep APC has plunder us into poverty.

soloehis:
clear @ 1390 is not realistic .u can import to save you from been cheated..i bet you that's when you will understand how deep APC has plunder us into poverty.

I thought every car clearing fee has been fixed to 1m

ChybuzzDD:


Does your theory also explain while the cost of Nigerian used cars are now higher than their cost price in or before 2019?
Someone recently put the selling price of his Nigerian used Lexus 350 he bought 3.5m as a Tokinbo in 2018 at 5.5m.

Everyone want to extort

htdot:

I thought every car clearing fee has been fixed to 1m

the least is 1m..for 2008 can't the least you can clear it is 1.5m..there are other unforeseen occurrences that will jack up all these figures listed. Car business was more profitable when naira had value..during GEJ I grew my small capital into millions.. But now landing cost alone will make u look wicked and greedy in the eyes of customers..but in reality inflation is roasting your capital.

soloehis:
the least is 1m..for 2008 can't the least you can clear it is 1.5m..there are other unforeseen occurrences that will jack up all these figures listed. Car business was more profitable when naira had value..during GEJ I grew my small capital into millions.. But now landing cost alone will make u look wicked and greedy in the eyes of customers..but in reality inflation is roasting your capital.

Is there anything else you have to settled after clear? If yea, then they have to come out plain

htdot:

Everyone want to extort

2020 I purchased a corolla hatchback @rate of 2000 euro..exchange then was 350..shipping 700 euro then.. Then clearing 420k..i spent 1.365,000 bringing it to naija then.. But today landing cost of that car is over 3m..the demand for Nigerian use car has skyrocketed due to exchange rate and custom new clearing fees

ChybuzzDD:


Does your theory also explain while the cost of Nigerian used cars are now higher than their cost price in or before 2019?
Someone recently put the selling price of his Nigerian used Lexus 350 he bought 3.5m as a Tokinbo in 2018 at 5.5m.

The hike in price of toks cars has led to a correspondent hike in price of its alternative, Nigerian used Vehicles. This is because there is now more demand for Nigerian used Vehicles, since toks vehicle is out of most people's grasp.. The current reality is that Clean Nigerian used is the new Toks.. If you like buy, if you like, no buy.


Also maintenance costs have also gone up...Car parts dealers do not care if the car whose parts you wanna replace is toks or Nigerian used.. So if someone is maintaining his car at current car part rates, why will he sell the car at old rates?.. A 4litre can of Mobil 20W50 cost 4500 as recently as 3 years ago.. Now it's more than 10k...So if a car owner serviced his car with mobil of 10k, he should sell it as if he was buying the oil at 4500?

Yes my theory still applies.. If you have a car you bought pre-2018, feel free to sell it at pre-2018 price, as a Father Christmas that you are.. Only then will you realize how much you have jonzed when you realize you sold the car for less or a little more than the present cost of its toks or packaged Nigerian used engine and gearbox.. Criticising people's actions is easy until you try to do the action you criticise..

Show the "greedy car dealers" how to fairly sell their cars by posting your own here at Alubarika prices...Talk is cheap, walking the talking is what is expensive.

soloehis:
2020 I purchased a corolla hatchback @rate of 2000 euro..exchange then was 350..shipping 700 euro then.. Then clearing 420k..i spent 1.365,000 bringing it to naija then.. But today landing cost of that car is over 3m..the demand for Nigerian use car has skyrocketed due to exchange rate and custom new clearing fees

Thats amount to 3750 euro. The cost of that car shouldnt exceed 3.5m but you will see dealer that will sell that same car for 4million.
Using the black marke rate for euro which is 850. 2000x850=1.7m.
Shipping= 595and clearing of 1m and may be gain of 400k.
This car shouldnt exceed, 3.8m

buygala:


The hike in price of toks cars has led to a correspondent hike in price of its alternative, Nigerian used Vehicles.


Also maintenance costs have also gone up...Car parts dealers do not care if the car whose parts you wanna replace is toks or Nigerian used.. So if someone is maintaining his car at current car part rates, why will he sell the car at old rates?.. A 4litre can of Mobil 20W50 cost 4500 as recently as 3 years ago.. Now it's more than 10k...So if a car owner serviced his car with mobil of 10k, he should sell it as if he was buying the oil at 4500.

Yes my theory still applies.. If you have a car you bought pre-2018, feel free to sell it at pre-2018 price, as a Father Christmas that you are.. Only then will you realize how much you have jonzed when you realize you sold the car for less or a little more than the present cost of its toks or packaged Nigerian used engine and gearbox.. Criticising people's actions is easy until you try to do the action you criticise..


No need criticising Bros.. Show the "greedy car dealers" how to fairly sell their cars by posting your own here at Alubarika prices...Talk is cheap, walking the talking is what is expensive.

Why would you sell a nigeria used camry you bought for 5300 dolar (, clearing inclusiv) that you have for for 3year for 4300 usd?

buygala:


The hike in price of toks cars has led to a correspondent hike in price of its alternative, Nigerian used Vehicles. This is because there is now more demand for Nigerian used Vehicles, since toks vehicle is out of most people's grasp.. The current reality is that Clean Nigerian used is the new Toks.. If you like buy, if you like, no buy.


Also maintenance costs have also gone up...Car parts dealers do not care if the car whose parts you wanna replace is toks or Nigerian used.. So if someone is maintaining his car at current car part rates, why will he sell the car at old rates?.. A 4litre can of Mobil 20W50 cost 4500 as recently as 3 years ago.. Now it's more than 10k...So if a car owner serviced his car with mobil of 10k, he should sell it as if he was buying the oil at 4500?

Yes my theory still applies.. If you have a car you bought pre-2018, feel free to sell it at pre-2018 price, as a Father Christmas that you are.. Only then will you realize how much you have jonzed when you realize you sold the car for less or a little more than the present cost of its toks or packaged Nigerian used engine and gearbox.. Criticising people's actions is easy until you try to do the action you criticise..

Show the "greedy car dealers" how to fairly sell their cars by posting your own here at Alubarika prices...Talk is cheap, walking the talking is what is expensive.

I'm truly shocked by our people's basic lack of understanding of economics and demand and supply law. They do understand if they're the seller though. I'm not a car importer. If a human being can find buyers of a broom stick for 1 million naira, he would sell it for as such. The moderating factor is the demand (the willingness to pay such and such). That's why a price is an equilibrium of demand and supply.

I sell cameras and I know how much I used to buy them before the 2020 dollar disaster. Today people are still demanding I sell same price or even less than in 2020. I refuse to take a 50+% loss; they find other photographers who have made money with their own cameras and can afford to maintain that price at a loss to we importers who don't use the cameras to make money. I can not force them that they must pay x2.5 because dollar has risen by that amount. It cuts both ways but each person is looking only for his own benefit

Dwightventures:


I'm truly shocked by our people's basic lack of understanding of economics and demand and supply law. They do understand if they're the seller though. I'm not a car importer. If a human being can find buyers of a broom stick for 1 million naira, he would sell it for as such. The moderating factor is the demand (the willingness to pay such and such). That's why a price is an equilibrium of demand and supply.

I sell cameras and I know how much I used to buy them before the 2020 dollar disaster. Today people are still demanding I sell same price or even less than in 2020. I refuse to take a 50+% loss; they find other photographers who have made money with their own cameras and can afford to maintain that price at a loss to we importers who don't use the cameras to make money. I can not force them that they must pay x2.5 because dollar has risen by that amount. It cuts both ways but each person is looking only for his own benefit

No one lack knowledge here. You guys refuse to admit the truth

My brother, shit is going crazy at the moment, bought car battery of recent 32k , the previous battery that packed up only cost me 21k in early 2021, Pennzoil full synthetic is now 28 k,the previous price I bought it last was only 22,k,even vulcanizer is collecting 300 naira to guage one tire where as it was only 100 naira just two years ago, inflation is really messing people finance upi don't blame anyone that inflate price of naija used vehicles.afterall nobody is forcing another person to buy by force .

buygala:


The hike in price of toks cars has led to a correspondent hike in price of its alternative, Nigerian used Vehicles. This is because there is now more demand for Nigerian used Vehicles, since toks vehicle is out of most people's grasp.. The current reality is that Clean Nigerian used is the new Toks.. If you like buy, if you like, no buy.


Also maintenance costs have also gone up...Car parts dealers do not care if the car whose parts you wanna replace is toks or Nigerian used.. So if someone is maintaining his car at current car part rates, why will he sell the car at old rates?.. A 4litre can of Mobil 20W50 cost 4500 as recently as 3 years ago.. Now it's more than 10k...So if a car owner serviced his car with mobil of 10k, he should sell it as if he was buying the oil at 4500?

Yes my theory still applies.. If you have a car you bought pre-2018, feel free to sell it at pre-2018 price, as a Father Christmas that you are.. Only then will you realize how much you have jonzed when you realize you sold the car for less or a little more than the present cost of its toks or packaged Nigerian used engine and gearbox.. Criticising people's actions is easy until you try to do the action you criticise..

Show the "greedy car dealers" how to fairly sell their cars by posting your own here at Alubarika prices...Talk is cheap, walking the talking is what is expensive.

htdot:

Why would you sell a nigeria used camry you bought for 5300 dolar (, clearing inclusiv) that you have for for 3year for 4300 usd?

Buy your own for 5300 dollar and sell for us at 1k Dollar after using it for one year..


Carry your JAMB Question go meet Buhari.. After May 29, carry am meet Emilokan.

htdot:

Why would you sell a nigeria used camry you bought for 5300 dolar (, clearing inclusiv) that you have for for 3year for 4300 usd?

1. Car price is not a function of years the car is used but rather the condition the vehicle is currently in. Reason why a 2008 camry used for 1year won't have same price across board even if both had same accessories and same specs.

2. Naija used prices have gone up because inflation has occured. It would cost more to get tokunbo of replacement of what one is selling reason why prices too have to go up. What you bought for $1000 2 years ago has appreciated in value because of inflation.

3 demand and supply basic economics rule the more the demand, the more the cost price

4. Leave toyota buy Renault they are far cheaper and reliable too

L

nurey:


1. Car price is not a function of years the car is used but rather the condition the vehicle is currently in. Reason why a 2008 camry used for 1year won't have same price across board even if both had same accessories and same specs.

2. Naija used prices have gone up because inflation has occured. It would cost more to get tokunbo of replacement of what one is selling reason why prices too have to go up. What you bought for $1000 2 years ago has appreciated in value because of inflation.

3 demand and supply basic economics rule the more the demand, the more the cost price

4. Leave toyota buy Renault they are far cheaper and reliable too

This is a reasonable excuse and they should stop blaming it on the nigeria factor

buygala:


Buy your own for 5300 dollar and sell for us at 1k Dollar after using it for one year..


Carry your JAMB Question go meet Buhari.. After May 29, carry am meet Emilokan.

You guys try so hard to be savage when you got caught from your evil act

htdot:

Bro, let bill everything in dollar, since is a foreign item.

Clearing of 2008 toyota camry then was 500k which was equivalent to 1.390k using 360k as the rate.
You buy the car in auctions for 2500 in texas , towed it for 300 to the seaport, ship it for 1200 and the clear it for 1390 and then profit to be 300. Lets add this up and convert it to the current exchange rate of 750. Thats about 5390 , convert this to naira which is 4m for foreign used camry but you guys are selling it for 4.8m. No be stealing be that. And nigeria used should be 35% less than the actual price of 4m, which would have been 2.6 m for a nigeria used camry but you guys are selling it for as high as 3.3 m

Lmao. So when you buy at the auction yard you won't pay charges? And after you clear the car, you'll just drive it straight to the car stand and sell. You never import motor wey the engine or gear don die or the one that port rats within and outside the country will cause you unexpected expenses.

Have you ever heard of forklift or non-runner fee? Who no go no go know. Just import the car yourself. Body go tell you.

buygala:


The hike in price of toks cars has led to a correspondent hike in price of its alternative, Nigerian used Vehicles. This is because there is now more demand for Nigerian used Vehicles, since toks vehicle is out of most people's grasp.. The current reality is that Clean Nigerian used is the new Toks.. If you like buy, if you like, no buy.


Also maintenance costs have also gone up...Car parts dealers do not care if the car whose parts you wanna replace is toks or Nigerian used.. So if someone is maintaining his car at current car part rates, why will he sell the car at old rates?.. A 4litre can of Mobil 20W50 cost 4500 as recently as 3 years ago.. Now it's more than 10k...So if a car owner serviced his car with mobil of 10k, he should sell it as if he was buying the oil at 4500?

Yes my theory still applies.. If you have a car you bought pre-2018, feel free to sell it at pre-2018 price, as a Father Christmas that you are.. Only then will you realize how much you have jonzed when you realize you sold the car for less or a little more than the present cost of its toks or packaged Nigerian used engine and gearbox.. Criticising people's actions is easy until you try to do the action you criticise..

Show the "greedy car dealers" how to fairly sell their cars by posting your own here at Alubarika prices...Talk is cheap, walking the talking is what is expensive.

The summary of all you wrote here is that buying a personal car is an investment, and every penny spent on it has to be recouped.

That's very wrong.

The spareparts you buy don't stop the value of the car from depreciating.
Spare parts do not increase the value of the car, but only maintain it closer to the original value it was when newly bought.

It's greed to add all the expenses one spent on spareparts to the resale cost of a car.
But as a seller, as is common with most Nigerians, it'll be very very difficult for you to see the truth from your position.

htdot:

This is a reasonable excuse and they should stop blaming it on the nigeria factor

And which factor is it if it is not Nigerian factor ?

I prayed for the incoming administration to succeed but currently our country is in mess.

ChybuzzDD:


The summary of all you wrote here is that buying a personal car is an investment, and every penny spent on it has to be recouped.

That's very wrong.

The spareparts you buy don't stop the value of the car from depreciating.
Spare parts do not increase the value of the car, but only maintains it closer to the original value it was when newly bought.

It's greed to add all the expenses one spent on a spareparts to the resale cost of a car.
But as a seller, as is common with most Nigerians, it'll be very very difficult for you to see the truth from your position.

Cost of car maintenance is also part of the cost of car ownership... Buying a car is only one step in owning a car.. Maintaining it well and keeping it very roadworthy is the more important part of car ownership.. So total cost of car ownership is the sum of these two...

Failure to understand this is why people, like that Nairalander with the Honda DC V6, keep wailing about maintenance cost of a car they bought of their own free will...

And it's the same reason why people like you keep shouting that a car bought toks in 2018 should be sold for 2018 naija used price... As if after buying it, na una give owner money wey e dey use maintain am at present prices.


If car owner puts for sale a badly maintained car for sale on this forum, na same una go abuse am taya, telling him to go sell the scrap car for iron condemn people.. But if una see well maintained car, una go begin rant about price as if na the owner 2018 piss im use dey maintain the moto.

Tbh, all of una get point ,
Bottom line is, everything don cost

htdot:

...but you guys are selling it for ... but you guys are selling it for as high as...

Weird response to analysis.

soloehis:
lets do the mathematics together..
Buying a Camry then was @$3000
Shipping $1000
Exchange rate then was 360 for naira to a dollar.
Clearing then 400k
Cost of car including shipping $4000 x 360naira
= 1,440,000
+400,000(clearing)
Grand total = 1,840,000(landing cost for camry 2019)
Now 2023

Exchange rate now 750 for naira to a dollar.
Clearing now 1.5m

Cost of car including shipping $4000 x 750naira
= 3,000,000
+ 1,500,000 (clearing few)
Grand total: #4,500,000
This is the clearing price as of last year

In 2023 u didn’t include the Shipping which isn’t $1k anymore but $1315
Clearing of Camry is now 1.1m