Hey guys I have been trying to figure out what makes up the clearing cost for cars and what exactly makes a newer model car more expensive than an older model. I have a friend who is shipping down his 2015 GX460 from Canada and i have heard him say he might spend as much as 5million to clear it and get all the necessary documentations (for my mind that is the price of about two of the cars i wan buy now just to clear one car) which gets me asking what exactly makes up this five million. Please if we have any clearing agents or anybody with knowledge in this area in the house do help give me a detailed breakdown of how this five million came about and how it is split through the clearing process and also maybe in comparison to an older model car which would have a lower cost and its breakdown as well.

NOTE: Just for a need to know basis, not planning to take anybody's business . Thanks

krisrock:
Hey guys I have been trying to figure out what makes up the clearing cost for cars and what exactly makes a newer model car more expensive than an older model. I have a friend who is shipping down his 2015 GX460 from Canada and i have heard him say he might spend as much as 5million to clear it and get all the necessary documentations (for my mind that is the price of about two of the cars i wan buy now just to clear one car) which gets me asking what exactly makes up this five million. Please if we have any clearing agents or anybody with knowledge in this area in the house do help give me a detailed breakdown of how this five million came about and how it is split through the clearing process and also maybe in comparison to an older model car which would have a lower cost and its breakdown as well.

NOTE: Just for a need to know basis, not planning to take anybody's business . Thanks

If shipping trough TINCAN,it's going to be split between terminal charges,demurrage,bank charges,processing fees etc.

If shipped through cotonou,just Benin custom charges and Nigerian custom charges(bank payment and processing fees).

It is advisable 2 ship such exotic & expensive car through grimaldi shipping/terminal agency, check my signature 4 details. Tx sir

krisrock:
Hey guys I have been trying to figure out what makes up the clearing cost for cars and what exactly makes a newer model car more expensive than an older model. I have a friend who is shipping down his 2015 GX460 from Canada and i have heard him say he might spend as much as 5million to clear it and get all the necessary documentations (for my mind that is the price of about two of the cars i wan buy now just to clear one car) which gets me asking what exactly makes up this five million. Please if we have any clearing agents or anybody with knowledge in this area in the house do help give me a detailed breakdown of how this five million came about and how it is split through the clearing process and also maybe in comparison to an older model car which would have a lower cost and its breakdown as well.

NOTE: Just for a need to know basis, not planning to take anybody's business . Thanks

Hello Krisrock,

It is very possible to pay that much.

Let's assume the Cost, Insurance and Freight (CIF) for this vehicle is $45,000 which is the average price. CIF is estimated by Nigeria Customs to determine how much you bought the car abroad plus insurance and shipping cost to the Nigerian port.

Use N197/$ to convert to Naira. i.e CIF (cost to lagos port) = N8,865,000

Surface duty is 35% of CIF = N3,102,750
Levy is 35% of CIF = N3,102,750.Levy will only be charged if the vehicle has a low mileage usually below 5,000km
Surcharge 7% of surface duty = N217,193
ETLS (Ecowas Levy), valuation, terminal, shipping etc = N930,000

Total duty without levy is N4,249,943 while with levy is N7,352,693.

Please note that these figures are mere estimates and there will be a variations during actual clearing. Most likely, your friend will not need to pay the levy.

Some conditions may also vary between TINCAN port and Apapa port.


Website: www.autojosh.com, Twitter: @AutoJoshNG, Facebook: Autojoshng and Instagram: autojoshng