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Nairaland Forum / Nairaland / General / Car Talk / Tokunbohs Are Now Very Scarce In The U.S. (2969 Views)
Why Is Peugoet 607 So Scarce Now On Nigerian Roads. / Why Quality Tokunbo Cars Are Scarce In Nigeria / Why Is Mazda Millenia 2002 A Bit Scarce In The Market? (2) (3) (4)
Tokunbohs Are Now Very Scarce In The U.S. by BizBooks(m): 4:11pm On Aug 09, 2011 |
The US car market is still feeling the effects of the Japanese earthquake. Tokunbohs of the Honda and Toyota variety are now very difficult to get here. I just checked OVE (an affiliate of Manheim) and this is what I found: 2003 Honda Accord - 1 available 2004 Honda Accord - 1 available 2005 Honda Accord - 1 available 2006 Honda Accord - 0 available 2007 Honda Accord - 2 available Total available - 5. This is un-imaginable even last year. If only there is a way to ship cars from Nigeria back to the US, we will all be millionaires. |
Re: Tokunbohs Are Now Very Scarce In The U.S. by inspiredm(m): 4:43pm On Aug 09, 2011 |
I Check Manheim OVE Everyday and I can Confirm its True. Seems Honda is Worst Hit with this Japan earthquake I just Bought a 2005 Honda Accord EX-L for $12,000. Exclusive of shipping, Clearing and Profits. The Customer Insisted he does not like the 2006/2007 model. |
Re: Tokunbohs Are Now Very Scarce In The U.S. by BizBooks(m): 5:12pm On Aug 09, 2011 |
inspired_m: Yes, you are right. I recently toyed with the idea of getting a new car and went to a Honda dealership. They offered me the same price - $12,000 for my 2005 EX-L if I will buy a 2011 model. Unfortunately, I didn't have the appetite to take on another car loan having recently finished paying off the one I had. Honda is the worst hit. A few days ago, they announced a 90% decline in profits. |
Re: Tokunbohs Are Now Very Scarce In The U.S. by texazzpete(m): 5:54pm On Aug 09, 2011 |
BizBooks: Decline in profits usually means a price slash. looming recession usually means a price slash too. Good times |
Re: Tokunbohs Are Now Very Scarce In The U.S. by Fhemmmy: 6:01pm On Aug 09, 2011 |
texazzpete: You are very wrong Sir . . . . .Looming recession means, more people will hang on to their rides and not sell to get a new one and meaning lesser used rides will be in the market, meaning less to chose from and price will go up and be a little higher. The only thing that might be in the market for the people would be people that default on loans and have to repo their machine and be sold . . . however, imagine demand and supply as well, when 200 people are waiting to buy same machine, the banks will wanna sell at the highest price possible and the bidding with so many interested buyers will drive the price up as well. So whichever way you look at it, the price is going up . . . . . |
Re: Tokunbohs Are Now Very Scarce In The U.S. by inspiredm(m): 6:34pm On Aug 09, 2011 |
BizBooks: On a Lighter Note Maybe we can look into Re - Exporting Cars from Nigeria back to the USA ( Pre order your cars from Nigeria to the USA 100% deposits Only. ) The Good thing about this Palava is for People that Deal on Salvaged Cars, When Customers can no longer afford Clean title Honda Accords they would be forced to go for salvaged cars. Salvaged 2005 Honda Accord sells for around $4000. With another $2,000 to Repair Professionally, You're good to go. |
Re: Tokunbohs Are Now Very Scarce In The U.S. by femmy2010(m): 6:37pm On Aug 09, 2011 |
This is so true. |
Re: Tokunbohs Are Now Very Scarce In The U.S. by Fhemmmy: 6:38pm On Aug 09, 2011 |
inspired_m: Sometimes you could be stuck a lemon that cant be un-lemoned . . . . especially when you buy something without proper inspection and the frame has been affected. |
Re: Tokunbohs Are Now Very Scarce In The U.S. by BizBooks(m): 6:42pm On Aug 09, 2011 |
texazzpete: No, I think you got it wrong. How can there be a price slash when there are few new cars and even fewer used ones in the market. Instead of a price slash, prices are going up astronomically. For your information, Honda reported a decline in profits not because of recession but due to a disruption of their operations in Japan caused by the earthquake. Some of their plants were closed for months. See more details on that below:
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Re: Tokunbohs Are Now Very Scarce In The U.S. by Fhemmmy: 6:44pm On Aug 09, 2011 |
^^^ I hope all these will be fixed faster than later, cos it is surely not good for business . . . . . |
Re: Tokunbohs Are Now Very Scarce In The U.S. by texazzpete(m): 7:19am On Aug 10, 2011 |
Fhemmmy: I was referring to the price of new cars. I admit it may have been confusing since this topic is about Tokunboh cars BizBooks: The price of new cars will always drop in a recession. Consumers are afraid to spend so manufacturers do their best to entice them to spend by reducing prices. Rule of thumb: You cannot tempt people who are reluctant to spend by raising prices! I should have thought this would be fairly obvious. Remember how nearly all the UK shops had mega sales in 2009 to try to tempt people to spend? High cost of gasoline = lower prices/more incentives for 'gas guzzler' SUVs Recession = reduced spending = lower prices/more incentives Japan Quake = reduced production = Demand greater than supply = increasing prices. BizBooks: Which is why i said 'Looming' recession. It hasn't started yet and it may be averted but there's no denying that there's danger on the horizon. |
Re: Tokunbohs Are Now Very Scarce In The U.S. by blank(f): 11:27am On Aug 10, 2011 |
So, we should hang on to our cash then? Or go for Nigerian used. |
Re: Tokunbohs Are Now Very Scarce In The U.S. by babyboy3(m): 11:39am On Aug 10, 2011 |
I just Bought a 2005 Honda Accord EX-L for $12,000 WTF thats a flipping rip off, and its cheaper to ship from Europe http://suchen.mobile.de/fahrzeuge/showDetails.html?lang=en&id=143162626&pageNumber=1&__lp=64&scopeId=C&sortOption.sortBy=price.consumerGrossEuro&makeModelVariant1.makeId=11000&makeModelVariant1.modelId=2&minFirstRegistrationDate=2005-01-01&negativeFeatures=EXPORT&tabNumber=2 6,807 EUR (negotiable) |
Re: Tokunbohs Are Now Very Scarce In The U.S. by cinzo: 11:39am On Aug 10, 2011 |
I WANT TO BUY A 2000 NISSAN XTERRA BEFORE THE SCARCITY STARTS OH |
Re: Tokunbohs Are Now Very Scarce In The U.S. by BizBooks(m): 12:02pm On Aug 10, 2011 |
baby-boy: You forgot to mention 2 things: 1. The car you linked to is manual transmission which is also dirt cheap in the US. 2. 6807 Euro is equal to $9500 or thereabouts. $9500 is a lot of money for an European spec. |
Re: Tokunbohs Are Now Very Scarce In The U.S. by BizBooks(m): 1:11pm On Aug 10, 2011 |
cinzo: The scarcity has already started. But Nigerians may not feel it for sometime to come because there is an abundance of tokunbohs and registered cars for sale in Lagos and elsewhere. Shipping cars to Nigeria is no longer profitable (with $1 at N165). Most shippers I know have either stopped or scaled down their operations. If this trend continues, in a year or two, tokunbohs will become luxury items in Nigeria. People will then have to make do with registered cars. |
Re: Tokunbohs Are Now Very Scarce In The U.S. by cinzo: 1:13pm On Aug 10, 2011 |
SO I SHD KISS MY XTERRA GOODBYE |
Re: Tokunbohs Are Now Very Scarce In The U.S. by Fhemmmy: 1:36pm On Aug 10, 2011 |
texazzpete: The only way they will be luring people to buy would be the low interest rates, cos in America and Canada, people dont pay cash like they do in Nigeria, it is often loan from the bank or financing via the Auto maker financial outlet as well . . . so with the interest rate near 0 and might be like that for the next 2 years, that might help to lower what people would pay. However, with people not sure of their job stability, with problems with the economy, no matter how low the interest rate is, how many prudent human will go and take on more loan at the moment . . . so at the end of the day, the price is still going up But for those that wanna take on such loan, the brand new will end up being cheaper . . . but not to export to Nigeria, cos too much additional cost and clearing procedure as well as our govt lack of wisdom |
Re: Tokunbohs Are Now Very Scarce In The U.S. by blank(f): 1:44pm On Aug 10, 2011 |
See mess up. I miscalculated. Bought land to hedge taking a loan on the car. Should have bought the car and hedged taking a loan on the land. Should have seen this coming. My Camry o! |
Re: Tokunbohs Are Now Very Scarce In The U.S. by Fhemmmy: 1:47pm On Aug 10, 2011 |
blank: Depends on what kinda ride you wanna buy . . . . And your budget, there are still some good deals out there. I am sure when you ready, we have numerous great dealers on NL that would help you get the best, however, i will advice that you dont regret teh purchase of a land, it is a better investment. |
Re: Tokunbohs Are Now Very Scarce In The U.S. by babyboy3(m): 1:51pm On Aug 10, 2011 |
How much would it cost to Change from RHD to LHD |
Re: Tokunbohs Are Now Very Scarce In The U.S. by Fhemmmy: 1:53pm On Aug 10, 2011 |
baby-boy: This kinda question in a thread like this will be buried, i will advice you open a thread for it and the pro in such would be able to advice you . . . .good luck |
Re: Tokunbohs Are Now Very Scarce In The U.S. by babyboy3(m): 1:58pm On Aug 10, 2011 |
ok |
Re: Tokunbohs Are Now Very Scarce In The U.S. by cinzo: 2:13pm On Aug 10, 2011 |
Fhemmmy: SO THERE IS STILL HOPE FOR MY XTERRA |
Re: Tokunbohs Are Now Very Scarce In The U.S. by Fhemmmy: 2:17pm On Aug 10, 2011 |
If you have a reasonable budget . . . . We have access to Canadian market as well as American market, we only go with the better for each deal. Dont let us derail the thread . . . mail me if you want more info . . . but dont be asking for a 2005 Xterra at a cost of 1.5M Naira . . . . Lol |
Re: Tokunbohs Are Now Very Scarce In The U.S. by bfire(m): 3:22pm On Aug 10, 2011 |
Honestly, this problem is getting worse by the day. Imagine the prices increasing by about 20 - 25% at the auction; it's killing. Most of the dealers i know here have actually scaled down on exporting all these Japanese products to Nigeria. In about 3 - 6 months time, if this trend continues, it's going to be difficult getting cheap tokunbo's, salvaged or non-salvaged. If you factored in the Naira palaver, it's going to affect many automobile products like, parts, lubricants and so many more. How do you plan to survive the onslaught that these double edge sword, vis, Naira and auction price going up? |
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