Thursday, March 21, 2013

NAIJA MODERN CARS: PROS AND CONS OF BUYING A USED CAR IN NIGERIA



"It was disclosed by the Federal Road Safety Commission (FRSC) Nigeria in 2007 that 7million or more registered cars operates 
on Nigeria roads." -NigeriaMuse


And just last year estimation of cars Nigeria imported within 9months was published on PUNCH NEWSPAPER

Which is summarized below.

Nigerians imported 96,629 vehicles between January and September of 2012, the Nigerian Automobile Manufacturers Association said in its latest statistics. A breakdown of the figures showed that 22,192 of the vehicles were new and 74,437 vehicles were used ones.

From the above statistics it showed that more than average Nigerian prefer to buy a fairly use car be it a tokunbo or nigeria use(naija used cars).

Below is the Pros and Cons of buying used cars.

There's always a 2 way to buying a car:

1.) It is either you buy through a trained dealer (selling tokunbo and naija use cars).

OR

2.) Buy from a private party/Personal Owner (most sells naija used cars).

Whether you buy from a trained dealer or a private party, both require equal amounts of diligence on your behalf―running vehicle history reports, comparing prices, working out financing, weighing insurance costs, inspecting and test driving targeted vehicle.

Dealer Pros

* Dealers must adhere to stringent
operating/selling procedures. This means you're less likely to be cheated or burdened with a lemon.
* Dealers may provide warranties.
* Dealers offer financing options.
* Dealers can be easily contacted should problems arise.
* Vehicles are inspected by certified trained technicians.
* Dealers offer certified cars.

Private Party Pros

* More room for price negotiating.
* No high-pressure sales pitches.
* Lower prices.

Dealer Cons


* Higher prices.
* Must deal with professional sales teams, reliant upon commissions.

Private Party Cons

* Dealing with an unknown person, not bound to Federal Trade Commission
rules.
* No warranties.
* No trade options.
* You must complete and submit most of the paperwork yourself.
* Limited to seller's time schedule for inspecting vehicle.

I hope this piece help you along making the right decision when considering on buying a used car either toks or naija used vehicles.

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2 comments:

  1. Wow! What an eye opener this post has been for me. Very much appreciated, bookmarked, I can’t wait for more! cars by price

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  2. Very helpful information. I did not know that Dealers in Nigeria offer financing options. I would also like to add that you should check the mileage of the car you want to buy and also ensure you go with your trusted mechanic.

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