Things To Do When Your Car Budget Is Between ₦300k to ₦1 Million or More

Affording to buy a car in Nigeria is not an easy feat. Due to the economic situation in the country, many people struggle to save up for a car. But, the most challenging part isn’t saving up. What frustrates most people anticipating a car is realizing how expensive and under budget their stash is.

Still, having a low budget of ₦300,000 to ₦1,000,000 does not mean you can’t afford a car. It’s essential to know that there are several cars on the market, and regardless of how low your budget might seem, there’s something out there for you.

To enable buyers to search for cars on a relatively low budget, we have drafted these five tips to aid your purchase. 

5 Things To Do When Your Car Budget Is Between ₦300k to ₦1 Million or More

If your car budget is within this price range, panic is unnecessary. You’d be surprised to realize that various cars are available for that price or less. Instead of panicking, here are things to do when your budget is low.

Look Out For Older Model Cars

Older model cars are relatively cheaper than their latest models. Instead of targeting the latest models of cars and worrying that your budget can’t cover them, go for the older models. 

This is mainly an option for people who need a car mainly as a means of transportation. Instead of worrying about not meeting a specific budget, get something that meets your budget. The exciting thing is that most older model cars are very much on brand. 

Check Out A Tokunbo Car

If you are looking for cars between 300k to one million Naira, Tokunbo cars are another place you’ll find something to fit that budget. You might be surprised at what you could get your hands on. 

Most of these cars are still in good shape and can even pass as new cars. 

Consider Getting A Can On A Higher Purchase

For most people looking for the latest model or new version of some cars but operating on a low budget, a higher purchase is another option that can be considered. 

With a higher purchase, you only pay the amount you have while gradually paying up the remaining balance. If you’re okay with paying up debt gradually but getting a newer car model, then a higher purchase should be an option. 

Haggle Price With Sellers

There are many instances where a car is set for three million Naira, and you’ll get it below the price. How do buyers do that? They haggle prices with the owner or seller. 

So, if you are good with haggling prices and have seen a car that is slightly above your budget, instead of ignoring it completely, consider haggling the price a bit.

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Search For Emergency Sellers

Emergency sellers are those selling a particular product or item due to a current emergency. Practically, someone selling a car due to an emergency might sell it lower than its cost price. 

If you are searching for a car on a low budget, this is an opportunity you can seize to stand a chance to buy the car.

Conclusion 

It often seems impossible to buy a car for 300k upward. But, the reality is that you will come across quality cars of that price if you follow any of these tips.