Used Cars in Nigeria With the Worst Resale Value After a Few Years

• Buying a comfortable car with good performance is not the only thing you consider when buying a used car in Nigeria. 
• Apart from the power and performance of the car, the resale value is equally important.
• A car with a bad resale value means that if you intend to resell your car, you won’t make as much money from selling it.

If you are in Nigeria and planning to buy a car, there are certain cars you should not go after because of their low resale value, especially if you are going to purchase these cars second-hand. Buying any of these cars simply means that by the time you are ready to resale, there might not be a decent price offered for them.

Below are some car brands with the worst resale value in Nigeria today.

1. The BMW

Both its SUVs and its sedans appeared multiple times in their respective categories of high-depreciation vehicles. Across the entire lineup, though, five-year depreciation is predicted to be 66.1%. While BMW cars are beautiful and luxurious, this vehicle has a terrible resale value in Nigeria, and you should avoid it.

The BMW is one of the ultimate driving machines if you own one. But, many Nigerians are scared of owning one because of the maintenance and how much it costs to manage your BMW with Nigerian roads. This is one of the reasons BMW cars are affordable in Nigeria.

For instance, the BMW E90 is about N2 million in Nigeria, whereas its rival vehicle in the Mercedes-Benz family costs around N6 million Naira to acquire. Generally, BMW has very poor reliability in Nigeria, and because of that, its resale value keeps dropping.

2. Every Supercar in Nigeria

This might come as a shock, but, every single supercar in Nigeria has a poor resale value. That includes the Bugatti, Lamborghini, Ferrari, Mc Laren, and many other supercars. Because of the bad roads in Nigeria and how challenging it can be to source their spare parts, nobody ever pays what these cars are worth in the Nigerian market.

3. The Volkswagen

Before now, Volkswagen vehicles used to be one of the hottest cars in Nigeria, especially in the early 2000s. But, the moment the brand released the four-cylinder turbocharged engine, the resale value of the Volkswagen started going down the drain.

For instance, the Volkswagen Passat and the Jetta often develop crazy electrical and gearbox issues. This led to a reduction in the car’s value, as the continued to be unreliable. Now, with just 3.5 million Naira, you can buy a neat 2015 Volkswagen Passat, which is also the same price as a 2010 Toyota Corolla. This means the Passat that it’s five years behind in resale value against the Corolla.

4. The Audi

The Audi car is one of the cars many Nigerians don’t want because of its maintenance challenge. Most Audi cars run on premium petrol that you cannot find in Nigeria today. Another thing is that the Audi has a very complex electrical and mechanical system that most Nigerian technicians cannot understand.

For instance, The seven-seat Audi Q7 is an SUV with a modern interior and cutting-edge comfort and technology amenities. One of the quietest vehicles in its class, you can purchase a brand-new, opulent long-distance cruiser for only N53 million. Yet the Q7 suffers greatly from depreciation, particularly in the first five years, during which time it loses around 59% of its resale value.

A brand-new Q7 would be worth less than N15 million in just five years after purchase. Additionally, owning an Audi seems like an excellent way to waste money given that you will have to pay up to N1 to N2 million to maintain it throughout that time in Nigeria.

When purchasing a car, you would want to buy one with a high resale value, which would help you if you ever wanted to resell it to buy another car.  Audi parts are not hard to find in Nigeria, though. But, their Tokunbo parts are not reliable. Getting original car parts for the Audi is one challenge many face in Nigeria.

5. The Range Rover SUV

One shocking thing about the Range Rover SUV is that it is one SUV whose reliability reduces the more the vehicle gets older, making the resale value drop. The only way a car has great resale value is by how solid it remains even while it ages. 

Although Range Rovers have a tonne of luxurious features, you can decide that they are not worth the money after taking into account the rate of depreciation, which is linked to the cost of repairs and maintenance. After five years on the road, the value of a brand-new Range Rover will have decreased by around 63%.

So imagine if you buy a car for N40 million. If you calculate 75% of that money, you will only be selling your car for N15 million. If you’re searching for a new luxury SUV with a high resale value, it would be best to look elsewhere, but settling for a two-year-old Range Rover on the used-car market could save you some money.

In Nigeria, once buyers discover that your Range Rover has serious issues, they’ll offer you farther below the purchasing price. Of course, Nigerians love the Range Rover, and many are currently going after it. However, once the Range Rover passes the 10-year mark, it starts developing serious issues that make it harder to maintain.

6. The Volvo

If you’re not already aware, Volvo isn’t German. It’s based in Sweden and is currently owned by the Chinese automaker Geely. As it turns out, though, Swedish luxury cars depreciate even more quickly than German ones. Volvo’s resale value is lower than even Infiniti vehicles in Nigeria, and is expected to lose up to 70% of what it was originally sold for in five years. So, if you don’t want a vehicle with such resale value, then stay away from the Volvo.

Conclusion

These are the top car models in Nigeria that have the worst resale value in the market today. It’s best to purchase a Toyota, Lexus, Honda, Mercedes or even a Hyundai or Kia car in Nigeria more than most of them, especially if resale value is important to you.