In 2015, a report by PWC suggested that there are a total of 14 million cars currently using Nigerian roads. In over seven years, that number has indeed doubled. Interestingly, ⅔ of these cars on Nigerian roads are used vehicles and not new models.
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The PWC report also noted that Tokunbo vehicles also occupied 70% of cars in Nigeria. Since 2015 until now, that number has increased to over 85% of cars being used cars. That’s if it’s not even more than that today.
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This hints that there are millions of vehicles on Nigerian roads, and a large percentage of them are used cars because Nigerians buy mostly used cars. In fact, even the used car market in Nigeria booms more than the new car market.
Which Brands Used Cars A Popular In Nigeria?
Several brands in Nigeria used models scattered everywhere on Nigerian roads. But, none compares to Toyota and Honda. It’s the most common car sold in the secondhand car market in Nigeria.
Many Nigerians go after these car brands because of their durability, reliability, and great market value. While the Hyundai and Kia nad not popularly sold in the used car market, there are other brands Nigerians buy the used versions of.
Other brands that used versions that are also popular in Nigeria today are Mercedes and Lexus.
Why Do Nigerians Buy Mostly Used Cars?
The answer is simple: they are cheaper than new cars. But affordability is not the only reason many Nigerians have stuck to this car category for decades. After all, not all cheap things are of quality. Another reason Nigerians stick to this car category is that, despite being used, they always serve as good as new.
It’s impossible to distinguish between a used car and a new car in Nigeria, well, that’s if you’re buying the Tokunbo and not the Nigerian-used version. The Tokunbo versions have a reputation for looking brand new. Because these vehicles have been used in countries with good roads, they don’t develop issues, are sent down to Nigeria for resale, and come almost like they’ve never been used before.
That’s why many Nigerians avoid the new cars and chase down the Tokunbo version because they can get exactly what the new ones give from a Tokunbo.
New cars are called “tear rubber” vehicles. This means they are still intact and have not been used by anyone. But, it can be difficult to notice most Tokunbo versions, even though they’ve been used because the previous owners were gentle with the cars and how they operated them.
Are Used Cars Stronger Than New Cars In Nigeria?
Many Nigerians are of the sentiment that Tokunbo cars are stronger than new cars. It’s both true and untrue at the same time. Some used cars will compete favourably with new cars and beat them in the game. But, there are also new cars that used cars cannot compete with.
It all depends on the brand of these cars. Particularly, Toyota cars are known for their reliability. A 2000 Toyota Corolla will compete favourably with a newer model of the Honda. Why? Because Toyota cars have built a reputation for being strong, and although they age, they are still competitive. Their only challenge is the performance and power rate as they age. But, for a 2000 Corolla to compete with a 2010 Honda, that’s a lot of credit for the Toyota.
Should I Buy New Or Used Cars In Nigeria?
There’s no definite answer to this question. Rather, here are questions to ask yourself before making the decision:
- How much do I have?
- Does the car I want to buy have a used model?
- If so, is the used model better with performance and power than newer vehicles?
- Are the spare parts for the new car available in Nigeria?
- What is the maintenance rate for this used car?
- Does this used car have more market value than the new car?
- Will the new car eat into my budget?
- Does the used car compete favourably with the new car?
The reality is that many used cars still perform wonderfully well, as though they are new. So, instead of buying a new car just because it’s new, consider getting the used model and save yourself some money.
Conclusion
The economic situation in Nigeria is a major reason why many buy secondhand cars. However, Nigerians have also mastered the art of frugality and making the best out of used cars. As such, used cars dominate healthy and unhealthy Nigerian roads.
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