The Biggest Difference Between New & Tokunbo Cars in Nigeria

The decision between buying a new car or a used car can be a hard one, whether you can afford both or not. There are many advantages to buying new or buying used, but there are also many disadvantages. 

With so many differences between new and used cars, it’s important to do your due diligence and find what suits your needs best and pocket. As one of the biggest investments you can make, understanding the differences between new and used cars can save you money and car heartaches in the future.

Cost Difference of Buying New Vs. Tokunbo Cars

The biggest and most glaring difference between buying new and used is cost. Tokunbo cars will always cost less to buy than new models, even considering the variety of factors that can play a role in the amount of savings. 

Although it is true some Tokunbo vehicles could cost more than some new cars, a used model will always cost less than the newest version of the same model. Used cars come with lower prices, but not necessarily lower cost-of-ownership. 

According to experts, used cars are more likely to cost you more at the filling station than new cars, and without warranties and the niceties of being new, used cars may cost you more in maintenance and repairs. Because a used car is worth less than a new car, the cost of insuring it is often much less than a new car.

What Are You Paying for When You Buy Used or New Car?

The price of a car correlates with what you’re paying for. While Tokunbo cars cost less than new cars, that price is reflected in their features, safety, technology, fuel economy, and more. With the cost of a new car, buyers receive the best features offered in the current market. 

This can be especially true when considering the technological and safety-based advancements in recent years. 

In addition to new features and no mileage, part of a new car’s huge price tag is also peace of mind. Most new cars come with warranties and even maintenance coverage. If you’re lucky enough to buy a certified Tokunbo or a very recent model, you may still be able to take advantage of the vehicle’s warranty and/or maintenance agreements. 

But this is often not the case, and the majority of Tokunbo vehicles are long beyond any warranty. So while you pay more for a new car, you may pay less for repairs and maintenance over the course of a few years.

On the other hand, buying used may allow you to purchase into vehicle categories that you would not normally be able to afford. You get more with new vehicles but used cars retain their value better. Just by the end of the first year of owning your new car, it could lose up to 30 per cent of its original value, whereas a Tokunbo vehicle will generally only lose a small fraction of its value.

Brand New Vs. Tokunbo Cars: Their Biggest Advantages

The biggest advantage of buying a Tokunbo car is simply its price. Not only do previously owned vehicles cost less at purchase, but they also depreciate at a slower rate than new cars and can maintain a better resale value. 

New cars offer the latest in features and the best in capability and fuel economy. They cost more than used cars but come with better reliability and warranties. New cars offer more peace of mind than used cars and better shopping options.