Tokunbo Cars In Lagos Nigeria

Tokunbo Cars In Lagos Nigeria – Tokunbo Toyota Cars – Many people who are not familiar with the Nigerian automobile market call them foreign used cars, but here in Nigeria they are named “Tokunbo Cars”. Nigeria is a huge market for Tokunbo cars and it is no surprise. Many new cars are always too expensive for the average Nigerian and Tokunbo cars are not as expensive as new cars. So Tokunbo is the way to go.

However, it is easy for anyone to know how to buy or sell a car in Nigeria. This platform has been recognized as one of the best in terms of quality and reliability when selling used cars to consumers. Most cars here are very cheap and easy to buy and sell.

Tokunbo Cars In Lagos Nigeria

Tokunbo Cars In Lagos Nigeria

Here is another model that rivals the Corolla in terms of popularity in Nigeria. The Camry sequel, which first hit Nigerian roads in 1982, is known for its durability and reliability. You will fall in love with this model just because of its external beauty.

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The Hilux is one of the most popular heavy-duty and work-oriented pickup trucks in Nigeria. You will often find that the Hilux range is owned by organizations rather than individuals. This is because of its versatility and reliability.

Toyota Corolla is the most popular Toyota car model in Nigeria. Almost everything about the Corolla range is easy on the eyes.

SUVs are great for individuals, families, and organizations. This versatility makes the RAV4 lineup desirable. The first of its kind was produced in 1994 and has rapidly gained popularity since then.

The RAV4 is manufactured in different versions such as Limited, Hybrid and Adventure editions. Furthermore, this sequence has the characteristics of being one of the best and most used in Nigeria. In looks, performance, design and features, the RAV4 is undoubtedly the top Toyota model in Nigeria.

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The G-Class blends ruggedness with beauty fit for the Nigerian road. All you need are two powerful V8 engines capable of producing 416 horsepower and 450 pound-feet of torque. This four-wheel drive mid-size SUV has excellent fuel economy and hence is capable of providing excellent comfort. Check out the most affordable Mercedes Benz G Class in Nigeria

Honda Accord is another car that you should pay attention to if you are going to buy a car that you expect to have the best performance. The car has a spacious interior and a dynamic engine capable of producing approximately 192-252 horsepower.

With a price range of ₦8 million to ₦10 million, the Honda Accord is not too expensive to buy a good car. Check best price for Honda Accord at your location

Tokunbo Cars In Lagos Nigeria

The Lexus RX350 offers a smooth ride in any conditions. This is what you need for the Nigerian road. Riding this stylish mid-size SUV will definitely make you feel good due to its excellent acceleration, fuel economy and athletic feel. Mated to an eight-speed automatic, the Lexus RX350 comes with a 3.5-liter V6 producing 295 horsepower and 268 pound-feet of torque.

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You can buy this car for between ₦27 million to ₦30 million. Find Exotic Used Tokunbo, RX350 Cars for Sale in Nigeria

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Forex, Border Control Soar Prices Of Fairly Used Cars

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, The used car business in Nigeria is very popular among the youth. In the past, car dealers like Cisco and Alizadeh dominated the car business in Nigeria and unpopular car dealers could not enter. Now, most of the youngsters are licensed dealers without showrooms or parking spaces.

Tokunbo Cars In Lagos Nigeria

Transportation is a significant expense for Nigerian families, so owning a vehicle is ideal. However, the standard of living limits the options of the average Nigerian. Over 90 percent of Nigerians cannot buy new cars

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, so they choose Tokunbo cars. As a result, used cars account for 95% of Nigeria’s automobile industry. According to the National Bureau of Statistics, Nigeria spent N140 billion on importation of used vehicles in the first quarter of 2021 and N150 billion in the fourth quarter of 2020.

Increased incentives make the used car business profitable. According to Finance, Budget and Planning Minister Ahmed Zainab, 250 cars have been imported every day for the past five years. Every day many people are posting “cars for sale”, “cars available”, “pre-order”. For some of them it is a full-time business. For others, it’s an extra effort. According to Lekan Olaniyi, senior franchise network development manager at car trading platform Cars45, “Car dealerships are profitable. You do not need much capital. You can convince someone to trust you in sales and you will soon be in business.

Now people who cannot buy cars are selling cars. Whether a full-time job or side hustle, most people are licensed dealers. Digital applications have brought more literate people into business. Previously, you had to go through a type of apprenticeship system to become a car dealer. No Longer While learning from others is still part of the process, digitalization has made many things simpler.

So what’s available now to make riding this wave easier? Introducing bidding apps – platforms that auction cars at affordable prices for licensed dealers to bid on. These apps make access and trading easy. Nigerian Customs also has an auction website. Apps and platforms like Cars45, TokunboCars.NG, Jiji and Copart have registered many dealers and enabled their transactions. According to Olaniyi, “Last year we had about 150 to 200 people doing business regularly.”

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Osage, like most car dealerships today, is registered with several auto-trading apps and platforms that make doing business easier. “When I started, there were no online resources; It’s about what you know how to deliver. Since I was a driver, I knew some dealers who paid us to ship cars to and from Cotonou. “These relationships are still important, but they are no longer the basis for access to these vehicles,” Osage said. Now, business is voluntary. A car dealer can do business anywhere and anytime.

Social media has also played a role in the rise of tokunbo car dealerships as it is widely used in digital entrepreneurship. Pragati, who started the business three months ago, says his WhatsApp posts have generated more sales than the dealership he works for. When he started, he had to go several months without sales because it was difficult to get customers. Now they sell cars every week. Social media has helped you expand your market reach and expand your customer base. Social networks and digital applications have increased competition in the market; Finding distributors is now easy. From licensed dealers to sub-dealers, buyers can easily compare prices without any hassle.

About 32.5 percent of the Nigerian population is unemployed and many have turned to entrepreneurship to survive. Since selling used cars in Nigeria is profitable, young Nigerians are getting attracted to this business. Bisi, who was unemployed for some time, is selling the hotel. “I was selling cars after being laid off from my job during the lockdown. I needed something to generate income. A friend introduced me to one of those tokunbo car bidding apps,” Bisi said.

Tokunbo Cars In Lagos Nigeria

However, even if the business is profitable, it can be unstable, ranging from unstable revenue flows to inflation to unreliable imports. The income of these distributors is unlimited. “You can sell a car and make N10 million. There is nothing you can do, especially in cases where your order does not match the delivered order,” Osage said.

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Import risk is high at Tokunbo car dealerships. Used cars are not always in perfect condition. Sometimes they face serious problems, the trader gets stuck. In these cases, the dealer must perform certain repairs before putting the vehicle into service.

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