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Why Are Old Cars Still Damn Expensive In Nigeria. - Autos (2) - Nairaland

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Re: Why Are Old Cars Still Damn Expensive In Nigeria. by WhiteGoldz: 9:29am On Feb 15, 2021
Land with car,which one depreciates more. We are just greedy thats it
jaxxy:


It’s called appreciation value depending on the current condition of the car. It’s not his fault the car has appreciated. It happens bt rare.

Just like land u bought 300k at lekki in 2005 and selling it 40m in 2021. Is he a thief? grin
Re: Why Are Old Cars Still Damn Expensive In Nigeria. by jaxxy(m): 10:56am On Feb 15, 2021
WhiteGoldz:
Land with car,which one depreciates more. We are just greedy thats it

It depends. Have u not seen antiques and classic cars like old Benz, landrovers appreciating in value?

Appreciation of value is not greed it is economics bt sentiments will call it greed. Just like there are distress sale which u enjoy for obvious reasons there are also appreciation value sales.

When a buyer takes advantage of a distress sale why don’t u call it greed on the buyer part Or only sellers are greedy innit?
Re: Why Are Old Cars Still Damn Expensive In Nigeria. by ehmmy11(m): 11:28am On Feb 15, 2021
WhiteGoldz:
Land with car,which one depreciates more. We are just greedy thats it




that guy keep shifting goal post..
How can a car bought in 2013 appreciate? What is the assurance the engine and transmission is not dead after paying 3.2m ? The body nko? At this point consider importing yourself..

A friend imported 2012 Camry late last year total package 4.2m with 180,000 km ..

2 Likes

Re: Why Are Old Cars Still Damn Expensive In Nigeria. by WhiteGoldz: 11:31am On Feb 15, 2021
Wonderful,well at that mileage you have nothing to worry about,there are no shortcuts abroad,no kazeems,no quacks,no bad road
ehmmy11:





that guy keep shifting goal post..
How can a car bought in 2013 appreciate? What is the assurance the engine and transmission is not dead after paying 3.2m ? The body nko? At this point consider importing yourself..

A friend imported 2012 Camry late last year total package 4.2m with 180,000 km ..
ehmmy11:





that guy keep shifting goal post..
How can a car bought in 2013 appreciate? What is the assurance the engine and transmission is not dead after paying 3.2m ? The body nko? At this point consider importing yourself..

A friend imported 2012 Camry late last year total package 4.2m with 180,000 km ..
Re: Why Are Old Cars Still Damn Expensive In Nigeria. by ehmmy11(m): 11:40am On Feb 15, 2021
WhiteGoldz:
Wonderful,well at that mileage you have nothing to worry about,there are no shortcuts abroad,no kazeems,no quacks,no bad road

car drives like a dream, body excellent, interior good..

For Nigeria the worst has to be that corolla 2003-2007 the owners feel they have made it in life

3 Likes

Re: Why Are Old Cars Still Damn Expensive In Nigeria. by WhiteGoldz: 11:51am On Feb 15, 2021
If only nigeria didnt have pot holes ,bad roads and useless lazy stray animals crossing roads at will ,if only speed breaker bumps,wont we all be happy. A friend said that after buying a tokunbo car,he can guarantee you just 3 months of usage without fault and after that,its mechanic things.lol
Re: Why Are Old Cars Still Damn Expensive In Nigeria. by DelTel(m): 3:21pm On Feb 15, 2021
Zhirinovsky:
Don't trust any dealer here on Nairaland because you will need to pay them upfront. It is better if you know a dealer personally in the abroad. You can also chose to buy from cotonou (it is cheaper)

Truth is cars are now expensive due to current exchange rate but nigerian car sellers are over blowing it. Even people that bought corolla in 2015 wants to resell it in 2021 above the amount they even bought it after driving it for 6 years using xchange rate as an excuse

Ignorance is a very big disease!

1 Like

Re: Why Are Old Cars Still Damn Expensive In Nigeria. by udatso: 7:58am On Feb 17, 2021
Zhirinovsky:
Don't trust any dealer here on Nairaland because you will need to pay them upfront. It is better if you know a dealer personally in the abroad. You can also chose to buy from cotonou (it is cheaper)

Truth is cars are now expensive due to current exchange rate but nigerian car sellers are over blowing it. Even people that bought corolla in 2015 wants to resell it in 2021 above the amount they even bought it after driving it for 6 years using xchange rate as an excuse

Bros, what's wrong in paying upfront?
Re: Why Are Old Cars Still Damn Expensive In Nigeria. by EXOUSIAng: 8:29am On Feb 17, 2021
nedekid:

Ok. Great
The car issue is one I have also seen. You can't get a good car without atleast 4m and above.
5 years ago, a 8-10 year old $10k car would have been ₦1.4m.
As at today, we know $10k is now ₦4.75m. So naturally you need 4.7m today to get that same car you bought 5 years ago for 1.4m!
Folks don't know how far this regime has impoverished us.
Why do you think Nigeria is now said to be the poverty capital of the world?
No sir, a car You bought 5years ago shouldn't retain same value. So if I bought a camry for $10k 5years ago same camry should be going for about $6k by now....
Its not just the exchange rate, the old cars don't seem to be lossing value in Nigeria.

2 Likes

Re: Why Are Old Cars Still Damn Expensive In Nigeria. by nedekid: 8:58am On Feb 17, 2021
EXOUSIAng:

No sir, a car You bought 5years ago shouldn't retain same value. So if I bought a camry for $10k 5years ago same camry should be going for about $6k by now....
Its not just the exchange rate, the old cars don't seem to be lossing value in Nigeria.
Well said.
The issue is that you bought $10k car 5 years ago at ₦1.5m ie 150 to 1$.
The car rightfully has devalued eg to $6k today right?
$6k today for the same 5 year old car @₦475 to1$ is ₦2,875,000!
So following your line of thought, the old cars may seem not to be loosing value in Nigeria.

1 Like

Re: Why Are Old Cars Still Damn Expensive In Nigeria. by Zhirinovsky: 9:06am On Feb 17, 2021
Nothing really. Just that Nigerians are thieves. Integrity is foreign here.
Paying upfront to a car dealer you meant on nairaland is a stupid risk. Unless you know him outside this platform and you have some form of insurance from him if he runs away with your money.
udatso:


Bros, what's wrong in paying upfront?
Re: Why Are Old Cars Still Damn Expensive In Nigeria. by uniquelyspecial(m): 9:19am On Feb 17, 2021
ChybuzzDD:


When will you shut up, and stop making stupid comparisons like your clueless politicians??

When did Ghana start having Naira as its currency?
You can make your submissions without insults. just try it, it helps.
Re: Why Are Old Cars Still Damn Expensive In Nigeria. by ChybuzzDD(m): 6:23am On Feb 23, 2021
Truthteller2020:



See mumu that does not know that currencies can be converted.When I said 5 million naira I am referring to equivalent in cedis, which is about 600 million in old Cedis and 60 thousand in new currency.

This reply even made you more clueless than i previously thought!
Where I'm, a pack of Augmentin goes for the equivalent of $18.5.

Do you buy a pack of Augmentin at 18.5 dollars(8,789naira) in Nigeria??
Do you go about converting prices of goods in other countries to get their equivalent in naira, without putting into consideration the economy and other socioeconomic factors in those countries?

With people like you, just tell me how that country, Nigeria, will move forward.
Re: Why Are Old Cars Still Damn Expensive In Nigeria. by Truthteller2020: 9:20am On Feb 24, 2021
ChybuzzDD:


This reply even made you more clueless than i previously thought!
Where I'm, a pack of Augmentin goes for the equivalent of $18.5.

Do you buy a pack of Augmentin at 18.5 dollars(8,789naira) in Nigeria??
Do you go about converting prices of goods in other countries to get their equivalent in naira, without putting into consideration the economy and other socioeconomic factors in those countries?

With people like you, just tell me how that country, Nigeria, will move forward.
Go and read about purchasing power purity (ppp) and stop fooling yourself here
Re: Why Are Old Cars Still Damn Expensive In Nigeria. by Nobody: 9:54am On Feb 24, 2021
The simple thing to do in this instance is that OP can very well do away with car dealers and bring a car in himself. Get immersed in the experience. Put your money down, wait 2months plus, get your car. That way you will know first hand what is obtainable buying and importing a car in Nigeria today. Many people offer such buying, importation, logistics service here, tested and proven such as Deltel and amdman. It irks me when i read people throw around the word 'greedy' lavishly, like na you give the dealer money wey e take import car..speaking with such ego saying the price should be this and that. Put your money where your mouth is and know wasup. It's just childish. Keep looking for a good deal, ignore the ones above your budget, or very easily bring in one of your own. Shikena!

1 Like

Re: Why Are Old Cars Still Damn Expensive In Nigeria. by Nobody: 10:08am On Feb 24, 2021
jaxxy:


It’s called appreciation value depending on the current condition of the car. It’s not his fault the car has appreciated. It happens bt rare.

Just like land u bought 300k at lekki in 2005 and selling it 40m in 2021. Is he a thief? grin
that aside sef, the crux of the matter is the car is his property, and he can fix whatever price he wants! That absolutely doesnt make him a thief. Why do we throw words around so carelessly? It is a simple deal or no deal situation. I also HUNT for good deals, but i dont call them greedy or foolish or thief simply cos they arent willing to take my offer. If he's able to sell it fine, his win. If he's unable to sell it fine, his loss. Na all this cursing and ranting na im dey irk me pass. There is one guy in auto section that i'm actually HOPING meets his comeuppance real soon..such an uncouth, worthless, and hopeless fellow.

1 Like

Re: Why Are Old Cars Still Damn Expensive In Nigeria. by jaxxy(m): 10:15am On Feb 24, 2021
Gilbertase:
that aside sef, the crux of the matter is the car is his property, and he can fix whatever price he wants! That absolutely doesnt make him a thief. Why do we throw words around so carelessly? It is a simple deal or no deal situation. I also HUNT for good deals, but i dont call them greedy or foolish or thief simply cos they arent willing to take my offer. If he's able to sell it fine, his win. If he's unable to sell it fine, his loss. Na all this cursing and ranting na im dey irk me pass. There is one guy in auto section that i'm actually HOPING meets his comeuppance real soon..such an uncouth, worthless, and hopeless fellow.

U are completely right. Many of the people calling dealers or owners selling relatively high or regular prices are armed robbers if I shud follow their logic and reasoning. They want u to sell at ridiculously cheap amounts to them by force and when u can’t or won’t they call u thief. It’s very sad when it’s not by force and u can ignore and look elsewhere for a better deal which u will surely get cos there’s no monopoly here.
Re: Why Are Old Cars Still Damn Expensive In Nigeria. by wunmi590(m): 10:49am On Feb 24, 2021
WhiteGoldz:
As far back as 2015,with 2.3m naira,you can boast of buying a lexus ,or a camry sport,and some other SUVs. But i was so irritated tofay,having visited different car stands at ibadan,some of the cars i saw were too old,camry big daddy,corola 2004,c230,avalon 05,matrix,pontiac,es330, all selling for close to 3m naira. Why are we so wicked in this country. So if i want to buy a tokunbo car of 2011 model,i will be holding like 10million naira then. How can you want to sell lexus IS 2003 model for 1.9m naira. I just weak . Benz prices i saw at challenge and iwo road very high price, c300 2009 model 4.8m. Nawa o,benz c350 2009 5.8m. Nawa o. All tokunbo


Bros as far as I'm concern, dollar plays a part in it and we also have very greedy car sellers in nigeria.

The problem of Nigeria car dealers is that they will always want to increase cars they bought at a cheaper rate when dollar was not high to when it was high.

That's why you see most car stand filled with cars, majority of them are not making sales, and they still use their money to fix it since they decided not to let it go immediately.

1 Like

Re: Why Are Old Cars Still Damn Expensive In Nigeria. by princetom1(m): 2:37pm On Feb 25, 2021
Zhirinovsky:
Na why all man dey wise up now. Everybody is looking for ways to buy abroad and shop it in


You think is cheap in abroad?

U have no idea importe s go through apart from the high prices of vehicles in demand now, there are other factors that am not going to mention here... If u think it's not true, contact people who do preorder and find out yourself

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