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Why Are Cars Still Costly In Nig. After The Lift Of Ban On Tokunbo Cars By Fg? - Car Talk - Nairaland

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Why Are Cars Still Costly In Nig. After The Lift Of Ban On Tokunbo Cars By Fg? by Nobody: 8:03am On Jan 21, 2011
I thought i could buy a very clean car by this year after the FG announced lifting the ban on imported cars. the cost of car is even higher now. please, those this mean it has not started taking effect? car dealers pls help out.
Re: Why Are Cars Still Costly In Nig. After The Lift Of Ban On Tokunbo Cars By Fg? by femmy2010(m): 8:35am On Jan 21, 2011
The cost of buying from the US and Europe,cost of shipping,cost of clearing from the Nigeria ports still remain same.
Meaning the only effect the lifted ban would have is that now u can buy and drive a 15yr old car freely in Nigeria without the fear of customs.
Re: Why Are Cars Still Costly In Nig. After The Lift Of Ban On Tokunbo Cars By Fg? by Fhemmmy: 2:25pm On Jan 21, 2011
Also, though they have allowed the 15 year old rides to be cleared and used within Nigeria, the cost of clearing while they were being smuggled in are yet to be lowered.
As of now, they are still clearing a 1996 car at a cost of 230K Naira and more.
Re: Why Are Cars Still Costly In Nig. After The Lift Of Ban On Tokunbo Cars By Fg? by sultaan(m): 6:23pm On Jan 21, 2011
This is what happens when a confused FG runs around in circles.
Nomber of toks has reduced due to economic crunch, so income generated at port has gone down too.
If it costs N230k to clear a 14yrs old car, not many cars in the west cost that much at auction.
With $1200 shipping, it lands at about N650k.

How much profit do you think the dealer should add(consider how much tax paid)

To make as much profit as taxed, a dealer will have to ship newer cars with higher margin
Re: Why Are Cars Still Costly In Nig. After The Lift Of Ban On Tokunbo Cars By Fg? by poke(m): 1:21pm On Jun 03, 2013
then let them reduce the tax imposed if they are serious

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