Factors that determine the price of cars in Nigeria

Sellatease Team May 21, 2023

0 3 minutes read

There are so many factors that determine the price of cars in Nigeria, both brand new, tokunbo, or Nigerian used. The factors include the year of production of the car, the condition of the car, the paint on the body, the color, the accident history, the rate of customs fee paid on the car, etc

These factors form the basis on which the prices of cars are determined in Nigeria. I will take them one by one so you can have a good knowledge of the topic. You should do well to read a post I made about things to check and consider when buying a used car in Nigeria to avoid buying a problem for yourself.

Factors that determine the price of cars in Nigeria.

Year of production of the car: The year of production of a car always determines the price of the car. This applies even in a situation where the car comes with the same exterior design and specifications but different years of production. For the fact that Toyota Camry 2007 and 2009 come with the same body and design does not mean the price of both will be the same.
Mileage: This is one of the top determinants of the price of cars in the country. A car with a mileage of 10,000 KM and a car of 90,000 KM cannot have the same price tag. The reason for this is the fact that the one with 10,000 KM tends to be newer than the one with 90,000 KM. In rare cases, it doesn’t work out that way.
Condition of the car: The condition of the car matters a lot. A brand new car and a used car cannot have the same price tag. A tokunbo car and a Nigerian used car cannot have the same price tag irrespective of the year of production, even if they were produced the same day. Nigerians as we all know put more interest in the foreign used cars because they believe that overseas mechanics are better than their Nigerian counterparts.
The accident history of the car: Its very important to know the accident history of the car you are buying. The accident history of a car plays a big role in determining the price of a car. A car with a major accident that affected the radiator will not have the same price tag with the same car that has a minor accident history or little dents on the bumper. Like and follow us on @Sellatease because I will be dropping a post on how to check the accident history and the overall history of any car.
The mode of delivery: For example, a car that came in via air freight will be more costly than the car that came in via sea shipping. The reason for this is as a result of the price difference.
The rate of customs duty paid on it: As we all know, most people have a way of falsifying documents and this always affects the price of the car. A car with full and genuine customs duty will cost more than a car with half customs duty or fake customs duty.
The color: Most times, the color of the car matters a lot. For example, the price of black cars tends to be higher than that of other white cars. The reasons are a bit shady but that’s the truth.
The trim of the car: The trim I am talking about is the specifications that the car comes with. Toyota products always produce cars with different trim levels which include: LE, XLE, CE, etc. XLE is always the most costly trim because it comes with extra luxury features that are not found in any other trim.
First body paint: Cars with first body paints are costlier than the one that has been repainted or flashed. Most people believe that the first body paint will last longer. In most cases its always true because most painters use substandard paints, the paint always fade after a little while.

I always advise you to buy a car with full and genuine customs duty to be on the safer side. Aside from that, we all should be patriotic and help to generate revenue for our dear country.

With this, I hope you are enlightened on the factors that determine the price of cars in Nigeria. If you are looking forward to buying a car in Nigeria, you can check out our listing on cars for sale in Nigeria.