Many that are not familiar with the Nigerian auto market would call them foreign used cars but here in Nigeria, the name is “tokunbo cars”. It is the common truth that Nigeria is a very large market for tokunbo cars, and it isn’t surprising. Many brand new cars are always quite expensive for the average Nigerian, and tokunbo cars aren’t as expensive as the brand new cars. So, tokunbo is the way to go.
However, buying a good tokunbo car could be a tricky one. Why? Because there’s no way of telling how the cars were used before they were put up for sale. Also, some cars are really good at retaining values than some others. These things could go a long way in determining the performance, durability and reliability of the car when it is bought as a used car. Do you now see how tricky this could be?
Well, let me relieve you of some of the pressures of buying a good tokunbo car, not just for this year but for the year 2020. The guys at iSeeCars have done a thorough research and have come up with a list of the best used cars to buy in 2020, and I’m leaning on their results to make this list. Why wouldn’t I? They have analyzed more than 20 million cars to compile their list, using reliability, safety and depreciation as their deciding factors, and 200,000 miles as the threshold mileage for the vehicles. It would take me forever to do that.
This list is categorized by car genres. Before I go far, can you guess at which cars make the list?
Best Used Passenger Car: Honda Civic
It is common to find Honda Civic vehicles that easily surpass the 200,000 miles mark while still being completely reliable. It’s depreciation value over 5 years of use is 36.5%. Runner up: Toyota Corolla
Best Used SUV: Toyota 4Runner
Toyota cars are known for their durability, reliability and their fuel efficiency. Toyota 4Runner is no exception to these remarkable characteristics. It is well optimized for safety but it loses 44.2% of its monetary value after over 5 years of use.
Runner up: Toyota Highlander
Best Used Pick-Up Truck: Toyota Tacoma
You may be surprised that the best selling pick-up truck in 2019, Ford F-150, isn’t in the place of Toyota Tacoma. You may also be surprised that the Toyota Hilux model that is very common on Nigerian roads isn’t the best used car to buy in 2020. However, one thing’s for sure: Toyota Tacoma isn’t to be underestimated when it comes to pick-up trucks. As a matter of fact, there are even some 1995 models of the truck still being driven around today.
Runner up: Honda Ridgeline
Best Used Minivan: Toyota Sienna
This is probably not a surprising one. Toyota Sienna has been one of the most popular minivans in the world. The depreciation value of the Toyota Sienna over 5 years of use is 50%. Check out the prices of Toyota Sienna minivans in Nigeria
Runner up: Honda Odyssey
Best Used Sports Car: Ford Mustang
Mustang is one of the longest lasting sports cars and it is a worthy car to fill up this position. It loses 44% of its monetary value after 5 years of use.
Runner up: Dodge Charger
Best Used Hybrid Car: Toyota Prius
Toyota again! You probably already know that they are giants in the automobile world, with their products doing well across all the continents of the world. The Toyota Prius is a very reliable one and has been leading other hybrid cars.
Runner up: Toyota Camry Hybrid. Check out more about the prices of tokunbo Toyota Camry in Nigeria
Best Used Electric Vehicle: Tesla Model S
Electric cars don’t always have the toughness of fuel powered cars so the threshold mileage was halved to 100,000 miles for this category. Tesla is already a popular producer of electric vehicles and it is no surprise that the Tesla Model S seats in this position. It has a 61.5% depreciation over the years of use.
Runner up: Chevrolet Volt
Best Used Luxury Car: Lexus ES 350
This is probably not the most luxurious of luxury cars you can buy but it definitely isn’t a bad choice, especially when money is a major factor to consider. Its depreciation value is 57% after 5 years of use. Check out the prices of tokunbo Toyota Lexus in Nigeria.
Runner up: Mercedes Benz E-class
Best Used Luxury SUV: Acura MDX
The Acura MDX is a relatively inexpensive choice when it comes to luxury SUVs. However, it is an extremely durable ride and has high safety ratings.
Runner up: Volvo XC90
You can find many of these cars for sale at Carmart Nigeria.