Second-hand cars which are also popularly known as “TOKUNBO” cars are usually very cheap, readily available and mostly come in good condition.
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Before buying a used car in Nigeria there are certain things to look out for to avoid wasting your money or ending up with a car you would probably regret buying later.
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Top Checklist To Guide You When Buying A Used Car In Nigeria:
- Define a Budget:
Buying a car requires additional spending even after you already made payment for the car. You might need to replace the tyres and some of the minor repairs to carry out or fix them. You will need to run a regular maintenance check on the car, to make things easier for you consider the size of your wallet, define your budget, align your budget with your needs and stick to it in order to be in a safe financial position to cover unexpected repairs.
- Compare Prices:
The price of a car is a pivotal factor in deciding if you will be purchasing a particular model of a car. In order not to be outdone in the bargaining process, it is best to thoroughly carry out your research on the particular brand of car you desire before approaching a dealer in used cars. There is a particularly popular method that has worked for several buyers of used cars in researching the cost of the brands they have in mind in relation to variables like the degree of damage and the extent of use. Also, some go as far as ascertaining if it was used on Nigerian roads or it was imported into Nigeria. This gives you an idea of what the range of the selling price should be for you to be able to negotiate better.
Return On Investment:
If you purchase used cars with the aim of selling them later, you might as well consider it an investment rather than a car you are buying because you need one. This means you should focus on buying a used car with a great return on investment (RIO). You should stick to cars that have higher resale values like Ford, Honda and Toyota if you are buying a used car with the plan of reselling it later in the future.
- Always Check the Mileage:
The mileage of a vehicle is as important as the price and resale value of a used car. Mileage refers to the total miles covered by a vehicle, especially in a given period of time. I will give a quick illustration of how the mileage works. If a car is manufactured in 2012 and has a mileage of 60,000 by 2017, This would be considered good for you to buy. However, if the same car has a mileage of 110,000 or more you should avoid buying such a car. A great mileage is always a deal breaker when you are to make a choice between price, resale value and year of production. Furthermore, when buying a used car in Nigeria always look out for the mileage while also looking at other parameters you might have listed. The average annual mileage for a car is 12,000, if a car that is on your list of considerations has a mileage of less than 60,000 after five years, this is low mileage and it’s a good vehicle to purchase especially if it checks all other boxes in terms of functionality.
- Reliable dealer/seller:
After going through the above procedures and you have taken all important steps in your journey to purchasing a used vehicle in Nigeria, it is time to contact dealers and private sellers with great offers. This is the part where you express all your concerns and preferences before you make any commitment to part with cash. It is advisable to go with a professional and make sure you use a trustworthy auto-mechanic to check out the car for safety and the car’s particular condition as some will connive with the seller for a fee, in this case, his opinion will be biased and he will also earn more money when you start to come for repairs.
You can test-drive the vehicle, Test-driving is one of the best ways to ascertain the condition of a vehicle. It also helps you to know if the car fits into the mental picture of what you imagined your car to look and feel like. This is the final stage so it is important to make the right decision there and then.
In conclusion, if you are ever going to purchase a used vehicle in Nigeria you have to be certain that you are buying the car from a reliable dealer who is also trusted by buyers and sellers in Nigeria’s automobile space. Make sure you inspect the vehicle thoroughly before you make the final commitment
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