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Nairaland Forum / Nairaland / General / Car Talk / Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? (6343 Views)
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Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by ekoboy: 11:10am On Dec 17, 2014 |
saxywale:Abt 80k miles |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by ekoboy: 11:13am On Dec 17, 2014 |
sultaan:Which one is Nigerian new car. Do we produce cars in Nigeria? |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 1:59pm On Dec 17, 2014 |
ekoboy: Thanks bro... I really appreciate your contribution. You just expressed my thoughts for thinking of getting a new car. I usually feel concerned when folks say toks are better than new. It amazes but your experience reinforces my thought for a new car. Thanks again. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 2:04pm On Dec 17, 2014 |
Mods, to the front page please. As many advices, opinions and experiences will do a brother a lot of good O! Thanks in advance. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Nobody: 2:37pm On Dec 17, 2014 |
ekoboy: That is around 144,000km. That is considered high mileage in north America. Most warranty cover only up to 100,000km. In my opinion, if I was given the option to choose between an American spec Toks Rio or a Dana Rio. I wouldn't hesitate to jump on the Toks if the mileage is still less than say 50,000km. I have seen many Nigerian spec Toyota, Hyundai's and KIA being put up for sale due to numerous faults even when their mileage is less than 30,000km.Whereas you would see many american specs still running good at over 250,000kms. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by ekoboy: 12:25pm On Dec 18, 2014 |
saxywale:The roads in America are much better and they do a lot of highway miles. By the way the car was just over 3yrs when i bought it and i see ppl recommending 6-7 yr old tokunbo cars american cars here and what are their mileage. Any that is less than 100k miles has been tampered with. 1 Like |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by ekoboy: 12:29pm On Dec 18, 2014 |
Meanwhile 30k km is what some ppl do in 3yrs in Nigeria sitting in traffic most time while a car in America will have done over 100k km in the same period. 1 Like |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by tunlex01(m): 1:54pm On Dec 18, 2014 |
I'm having the same challenge at the moment too. My company offers auto loan for 24 to 48 months. I'm planning to get the Hyundai Accent (loan) but some of my colleagues feel getting a used car is better than the car loan offer. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 2:05pm On Dec 18, 2014 |
tunlex01: Nice! Mods, this is even more reason to get this post on the front page so that as many as possible can give their penny opinions. Thanks for your advice, Ekoboy and Autosbay. I think i will go with the new car anyway. I just need to get more experiences in order to understand the situation better. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Nobody: 2:42am On Dec 19, 2014 |
ekoboy:We are still kind of saying the same thing What i meant is that I personally won't buy a tokunbo car with mileage higher than 100,000km (60,000miles). Hyundai has one of the best new car warranty, and the warranty ends at 60,000 miles. Yours was 90,000miles. The warranty has expired hence may be the reason why the owner is selling it off. This is the time most cars start having faults that comes with expensive repairs. There are lots of excellent tokunbo cars with less than 62,000 miles but they don't come cheap. The seller is only selling them off usually cos he wants to upgrade or bored of the car. Infact, if you check autotrader, you would see 2014 and 2015 cars already been sold off by their owners but like i said, they don't come cheap. And Nigerians are always looking for cheap tokunbo cars. If you go on the auto section on this forum, you would see nairalanders requesting for cheap tokunbo with low mileage, therefore they end up buying a car with tampered odometre or badly salvaged car. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by tunlex01(m): 6:10pm On Jan 05, 2015 |
Mod please, can this be moved to frontpage for more opinions? |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 11:35pm On Jan 05, 2015 |
tunlex01: Seconded... I have appealed to the mods to no avail. I hope they listen this time. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by tunlex01(m): 3:50pm On Jan 10, 2015 |
Durchmann: probably there are no mods here |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 7:19pm On Jan 10, 2015 |
I've lost hope in the cause already... Mods, we dey watch una in 3D O!!! |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 5:04pm On Feb 18, 2015 |
tunlex01: Hmmm... I have sent an email sha. I hope that someday it gets attended to. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by tunlex01(m): 6:01pm On Feb 18, 2015 |
Durchmann:It is well. Have you made up your mind now? |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 11:02pm On Feb 18, 2015 |
tunlex01: Not yet. So many of my friends think i can get a good deal with a used car. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by tunlex01(m): 6:50am On Feb 19, 2015 |
Durchmann:same here. Though my mind is not made up yet. I'm still weighing my options |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 3:15pm On Feb 19, 2015 |
tunlex01: Ok You are in the same shoes too? Maybe soon, the mods will do the necessary and assist us both. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by carshowNG: 6:02pm On Feb 19, 2015 |
I have written a couple of articles on this subject and you may want to check them out: 1. New or Used Car: Which Should I Go For? - http://carshow.com.ng/blog/buying-advice/item/245-new-or-used-car-which-should-i-go-for 2. Benefits of Buying a New Car - http://carshow.com.ng/blog/buying-advice/item/248-benefits-of-buying-a-new-car 3. The Value of Buying a Used Car - http://carshow.com.ng/blog/buying-advice/item/249-the-value-of-buying-a-used-car 4. Benefits of Buying a Used Car - http://carshow.com.ng/blog/buying-advice/item/247-benefits-of-buying-a-used-car |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by sultaan(m): 2:20am On Feb 20, 2015 |
At $1-N200 it won't get cheaper, a lot of importers won't bring in any new inventory now because their car is 25% more expensive than the ones imported when Naira was 160 so you will have to find your deal amongst existing inventory. A sudden rise in price of used car from 25% exchange rate increase to 70% duty rate increase mean the market will have to adjust to the buying power of the consumer. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by tunlex01(m): 6:30am On Feb 20, 2015 |
Durchmann:my legs are crossed |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Nobody: 8:10am On Feb 20, 2015 |
Durchmann: Insurance will only cover loss / theft or damage. It doesn't take into account other contingencies like loss of earnings or mechanical failure. Should you lose your job, or your business fails, making you unable to keep up payments, you'd be stuffed, and could end up losing the car. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 8:15am On Feb 20, 2015 |
sultaan: Yeah! Right! The naira devalution seems like a deliberate move by the Government to make locally assembled vehicles look cost-effective. That's a nice one. However, I'm bothered about which of the purchase choice will be cost-effective for me judging from the experience of others. What do you advise? |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 10:53am On Feb 20, 2015 |
Siena: Hmmm... As much as it's hard to say, you are really right. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by kunle75(m): 1:40pm On Feb 20, 2015 |
Try femak autos the car am using presently was sold to me by him and no regret at all,i meet him on here on nairaland and think he based in canada..........its trusted hand. https://www.nairaland.com/femakauto this link can be of help too |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Evasmil4(m): 6:02pm On Apr 04, 2015 |
Hope you have got the car of your choice by now. I am opportune to have driven both new cars and old cars. I have bought and drive my own Nigeria use car, tokunbo car and also have the opportunity to drive company brand new car. Here is my experience in brief. Nigeria Use Cars= you go to mechanic almost every time for one repair or the other, vehicle may last a life time with maintenance. Tokunbo Vehicles= You also go to frequent mechanic but less to that of Nigeria used, part will be failing one after the other and at one point or the other you will be replacing/repairing parts. New Cars= You may not replace any part in 2 years, car will always start and go, with no fear of stop and quench for 3years, no matter how weak and fragile the car is, it will serve you for minimum of 3 years with just service and go your way. But know this, body will be very weak, accessories will be weak also, options will be limited, car will be like x3of the cost of same car that is tokunbo. and at the end of that 3 years, you are at the same point as if you just bought a used car and you will start visiting mechanics with the car almost every month also. This illustration is base on my experience on the following vehicles. Nissan Premera=Nigeria Used, Mazda626=Nija Used, KiaRio LS= Nija Used, Honda Civic2006 Tokunbo, Volvo S40=Tokunbo, GreatWall Pick-up=Brand New, KiaRio EX=Brand New, Corolla=Brand New. Make your choice |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by themodernman: 1:04am On Apr 05, 2015 |
Denn: Choi! See as you finish Kia... Diariz god oh |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by themodernman: 1:10am On Apr 05, 2015 |
234GT: So dat you can change it for another tear rubber model on loan if you wanna- dats how they live in most developed countries i.e on credit facilities. Though I won't advise any Kia though. Its best for students in my opinion. |
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by themodernman: 1:15am On Apr 05, 2015 |
234GT: So dat you can change it for another tear rubber model on loan if you wanna- dats how they live in most developed countries-on credit facilities. Though I won't advise any Kia though. Its best for students in my opinion. |
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