Car Brands with Second-Hand Value in Nigeria

Nigeria is one of the countries with the highest second-hand car marjet. Over an estimated number of 500,000 vehicles are sold annually compared to the 13,000 for brand-new cars in Nigeria. The prices of these vehicles ranges, but one reason many Nigerians troop to this type of cars is due to the secon-hand value.

Before you buy a used car, make sure you’ve taken note of its second-hand value in case you will need to resale it at some point. While there are many car brands in Nigeria, not all of them have good second-hand value in the country.

Here are the top car brands in Nigeria with great second-hand value you should only consider buying from.

1. The Toyota Car Brand

Toyota is #1 on the list of the most popular car brands in Nigeria as the brand has the highest resale value. Toyota vehicles have always been known in Nigeria and across the globe for their dependability, durability, and fuel efficiency, making them popular among new and used car buyers. Popular Toyota vehicles in Nigeria include the Corolla, Camry, and Highlander.

Toyota Corolla and Toyota Camry are popular choices for Uber riders, young professionals, bankers, entrepreneurs, retirees, and students. Others like the Toyota Matrix is popular among ladies, whereas the Toyota Sienna is popular among families and also used for public transportation.

2. The Honda Car Brand

Honda is another Japanese car brand that is #2 on the car brands with second-hand solid value in Nigeria. Honda cars are known for their quality, comfort, performance, and longevity, making them a good investment in the Nigerian market. Some of Nigeria’s most popular Honda models include the Accord, Civic, and CR-V.

Honda cars are popular with the middle class, with the Honda Accord being a favorite choice among Uber drivers, bankers, entrepreneurs, retirees, and men. On the other hand, the Honda Civic is favored by women, young professionals, and students, while the Honda Odyssey is favored mostly by persons with impairments.

3. The Lexus Car Brand

Lexus is the luxury arm of the Toyota car manufacturer, and comes #3 on the car brands with good second-hand value in Nigeria. Lexus cars are noted for their luxury, plush interiors, modern technology performance, dependability, and smooth rides. The RX, LX, and ES are among Nigeria’s most popular Lexus models, appealing to consumers looking for reasonably priced luxury.

Lexus cars are popular among both middle-class and upper-class people. The Lexus ES is preferred by bankers, retirees, and corporate women, while men prefer the Lexus RX.

4. Mercedes-Benz

It’s almost the dream of every Nigerian to own a Mercedes-Benz. Mercedes-Benz is a German luxury car brand that is also popular in Nigeria and retains its value well in Nigeria, placing it on #4 on the list. 

Mercedes-Benz cars are a status symbol, and these vehicles are often associated with class and prestige and are known for their luxury, performance, and safety. Some of Nigeria’s most popular Mercedes-Benz models include the C-Class, E-Class, and G-Wagon.

Mercedes-Benz cars are popular with the upper class, with the Mercedes-Benz C-Class being popular among bankers, women, and retirees. Meanwhile, men opt for the Mercedes-Benz E-Class.

5. The Hyundai Car Brand

Hyundai is a South Korean car brand that has gained so much popularity and love in Nigeria over time. Some of its most popular models in Nigeria are the Hyundai Elantra, Hyundai Tucson, and Sante Fe. These vehicles are well-known for their affordability, low maintenance costs, and modern features. Hyundai’s robust warranty offerings also add to the brand’s popularity.

Today, the Hyundai cars appeal to middle-class and upper-class buyers. In fact, the Hyundai Elantra has become popular among Uber drivers, young professionals, and students in Nigeria. On the other hand, the Hyundai Tucson is mostly popular among business owners and those looking for an SUV.

Conclusion

These are the top 6 most popular car brands in Nigeria that has the best second-hand market value. There’s absolutely no Nigerian that won’t want to get their hands on any of these car brands.