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Why Are Nigerian Car Dealers So Greedy?! - Car Talk - Nairaland

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Why Are Nigerian Car Dealers So Greedy?! by Dukes83: 4:36pm On Feb 08, 2012
1 million naira = 6,240 Dollars
1 million naira = 3,947 Pounds
1 million naira = 4742 Euros

Now take these respective amounts and go car hunting in these respective countries, continents which ever you like and see what you can buy.
Unfortunately in Nigeria you will hardly ever find a car that you like and that is in reasonable condition for under a million naira. So which leads me to my next question, why are Nigerian car dealers so quick to raise prices of vehicles that are for sale, and why are people silly enough to actually buy cars at extraordinary prices?

Discuss
Re: Why Are Nigerian Car Dealers So Greedy?! by webcam(m): 5:35pm On Feb 08, 2012
please add custome charges,shipping cost e.t.c anybody that have more ideal on that should please put more light
Re: Why Are Nigerian Car Dealers So Greedy?! by femy2010(m): 5:47pm On Feb 08, 2012
Dukes83:

1 million naira = 6,240 Dollars
1 million naira = 3,947 Pounds
1 million naira = 4742 Euros

Now take these respective amounts and go car hunting in these respective countries, continents which ever you like and see what you can buy.
Unfortunately in Nigeria you will hardly ever find a car that you like and that is in reasonable condition for under a million naira. So which leads me to my next question, why are Nigerian car dealers so quick to raise prices of vehicles that are for sale, and why are people silly enough to actually buy cars at extraordinary prices?

Discuss

I very much disagree with you sir.
Do a search on Yahoo Autos for a 1999 Camry and you get an average price of $3,000 to buy it in the Usa,It would cost about $300 to have it towed to the port of loading(depending on distance),it cost about $1,200 to ship from a place like New York.
Giving us a total of about N740,000 using a very fair exchange rate of N165 to $1 then you add a clearing cost of N210k to it and you get a total of about N950k to get a good 1999 Camry to Lagos.
The dealers profit is yet to be added oo.
Re: Why Are Nigerian Car Dealers So Greedy?! by Nicols(m): 8:19pm On Feb 08, 2012
I take it that the poster did not do his homework before creating this thread. A very childish post.

1 Like

Re: Why Are Nigerian Car Dealers So Greedy?! by Dukes83: 12:40am On Feb 09, 2012
Ok you have a valid point on the cost of towing it to a port in the States & shipping but clearing, anyone who brings in cars from abroad would not pay 210K to clear it, more like 110K to clear it. I know people that clear cars for that price by the way! Secondly not all cars brought to Nigeria are from America, you have places like, France, Germany Belgium, Spain, Portugal & even the UK, yes the UK were cars are cheap to buy.  Thirdly the pin head named Nicols or whatever his or her name is should be more mature and act like an adult when involving themselves in an adult conversation and not say silly things like "childish", if you have not brought anything to the discussion. Not all cars for sale are bought from dealers abroad & are regularly bought from individuals residing in Nigeria, so what is with the heavy marking up in price?
Re: Why Are Nigerian Car Dealers So Greedy?! by Fhemmmy: 3:21am On Feb 09, 2012
Dukes83:

Ok you have a valid point on the cost of towing it to a port in the States & shipping but clearing, anyone who brings in cars from abroad would not pay 210K to clear it, more like 110K to clear it. I know people that clear cars for that price by the way! Secondly not all cars brought to Nigeria are from America, you have places like, France, Germany Belgium, Spain, Portugal & even the UK, yes the UK were cars are cheap to buy.  Thirdly the pin head named Nicols or whatever his or her name is should be more mature and act like an adult when involving themselves in an adult conversation and not say silly things like "childish", if you have not brought anything to the discussion. Not all cars for sale are bought from dealers abroad & are regularly bought from individuals residing in Nigeria, so what is with the heavy marking up in price?

Anyone that charges you something like that to clear any ride . . . . watch out, it is for sure a scam and the ride will be impounded by the next cop.
Re: Why Are Nigerian Car Dealers So Greedy?! by payless(m): 6:26am On Feb 09, 2012
@Duke

You are really wrong on your assertion. Where did you get someone who clear cars for N110,000? How many times have you cleared a car from the port? I guess never or may be only in your dream. Fhemmy actually said it right. As a matter of fact, you will be lucky to get a 1999 Camry for $3000. The cost is between $3000 and $4000 depending on the model (XLE, LE, and CE, V6 or V4). It does not matter what country the car is coming from, you pay certain amount for certain cars before you get them cleared from the port, whether they come from France, Germany, Belgium, Holland, Austria or anywhere. Cost of clearing cars start from N190k to infinity. A friend of mine just cleared brand new BMW for 1.3 million naira.

Next time, you need to do your home work very well before you post jaggons on the internet. Or your best bet is to send your money abroad and buy the car by yourself. Anytime you find someone who needs a car, tell the person Nigerian car dealers are so greedy, take money from them, travel to Europe and get the person a cheap car.
Re: Why Are Nigerian Car Dealers So Greedy?! by saxywale(m): 8:10am On Feb 09, 2012
The clearing cost starts from circa 200k. Also most times, the shipping cost fluctuates around the same region. circa 600 - 700 pounds from UK. can't speak for the US or other part of the EU. so what really determines the final price would be the amount from source.
e.g for 03 corolla, price could vary from as low as $3500 to $10000 depending on the milage, salvage or not, how clean the car is and how much car seller wants to sell his car. Agreed, there are some greedy car dealers, I have seen car dealers on NL selling similar type of cars with about 500,000 naira difference and some selling naija used as almost same price as tokunbo. but after all has been said, much depends on your bargaining power and the dealer is out there to make profit.
Re: Why Are Nigerian Car Dealers So Greedy?! by Nicols(m): 8:24am On Feb 09, 2012
payless:

@Duke

You are really wrong on your assertion. Where did you get someone who clear cars for N110,000? How many times have you cleared a car from the port? I guess never or may be only in your dream. Fhemmy actually said it right. As a matter of fact, you will be lucky to get a 1999 Camry for $3000. The cost is between $3000 and $4000 depending on the model (XLE, LE, and CE, V6 or V4). It does not matter what country the car is coming from, you pay certain amount for certain cars before you get them cleared from the port, whether they come from France, Germany, Belgium, Holland, Austria or anywhere. Cost of clearing cars start from N190k to infinity. A friend of mine just cleared brand new BMW for 1.3 million naira.

Next time, you need to do your home work very well before you post jaggons on the internet. Or your best bet is to send your money abroad and buy the car by yourself. Anytime you find someone who needs a car, tell the person Nigerian car dealers are so greedy, take money from them, travel to Europe and get the person a cheap car.

That’s exactly my point here. You will all agree with me that this guy did not do any home work at all before posting this “childish” thread. The reta.rd started this thread by calling dealers “greedy” without any valid point and now, he’s attacking posters with more insolent names. There’s no point responding to this dude cause going by his choice of words and his insultive responses, it’s obvious that he’s a teenager who is seeking for attention.
Re: Why Are Nigerian Car Dealers So Greedy?! by blank(f): 10:06am On Feb 09, 2012
The cabal are at it o.
Re: Why Are Nigerian Car Dealers So Greedy?! by IjogzK(m): 10:13am On Feb 09, 2012
Shhhhhhh angry, Y are u all BarkingShouting. Even though he ain't accurate about the clearing rates and all, It still doesn't change the fact that Naija car dealers are greedy. Especially some of those who sell the newer models.
Re: Why Are Nigerian Car Dealers So Greedy?! by spyder880(m): 10:31am On Feb 09, 2012
Anyone who thiks NL car dealers are greedy should put their money where their mouth are; import cars and sell cheap! Advertise here on the forum and you will get too many customers that you will become richer than Dangote, call me to buy 2010 camry for N1 million and I will pay you cash next hour, apart from that, please go back to sleep!
Re: Why Are Nigerian Car Dealers So Greedy?! by kenniojo: 10:37am On Feb 09, 2012
Hunnnn, wat a great trend, @Nicol, i think u re taking the issue personal, we re all here to learn wat we dnt know. if by any means u think there is need for correction, kindly make ur statement clear not by insulting anybody, am very sorry if my observation hurts u.
Re: Why Are Nigerian Car Dealers So Greedy?! by DerMeister: 10:41am On Feb 09, 2012
OP doesn't know what he's talking bout,
Re: Why Are Nigerian Car Dealers So Greedy?! by babyboy3(m): 10:45am On Feb 09, 2012
I dont know how much a 2006 Peugeot 407 cost in Nigeria but I have a friend who bought a one for £2100 (RHD) we drove it from Newcastle to Tilbury and they shipped for £440 to Nigeria

The agent he used charged him N300,000 and the car was delivered to his door in Ipaja!!! then paid N180000 to change the steering over to LHD,

So we are looking at around N1.2m


Now going by that process, last year I man wanted to sell me a 2000 Peugeot 406 for £1m,

This is a car that I could get in England for around £500 (cheaper if it has failed an MOT or even Cheaper at a car Auction) around £500 to Ship and around £1k to clear,

May be N200k change the steering over!!! to the Left and they are now changing them over to the LHD over here in England.
Re: Why Are Nigerian Car Dealers So Greedy?! by unipol(m): 10:48am On Feb 09, 2012
the clearing is 190 000 and above but still the poster has a point because in neigbouring countries cars are far more cheaper than in nigeria. i friend of mine went to senegal to buy car at rate of 1000 dallars and use another 1000 to bring it to nigeria. what is the problem with nigeria. why should our govt add such huge amount of money in clearing.
Re: Why Are Nigerian Car Dealers So Greedy?! by BizBooks(m): 10:48am On Feb 09, 2012
As a car importer myself, I can categorically confirm that the poster is wrong on all counts. In calculating his figures, he forgot to include the cost of shipping and clearing a car which can be quite substantial. Also he stated that a car can be cleared for N110K. As others have pointed, this figure is wildly off the mark.

While the poster has the right to start a mis-guided thread, I completely disagree with the decision of the moderators to place this thread on the front page. It does not deserve to be there since it contains information that has been proven to be false or mis-leading at best. They should do well to remove it from the front page before more people see it.
Re: Why Are Nigerian Car Dealers So Greedy?! by obamamate: 10:54am On Feb 09, 2012
Last time I cleared a car for 100k was in 1999.
Dealers are in Biz to make profit . just like any other bizman.
If he hikes his price, the car would go onsold for years until the value depreciates
Re: Why Are Nigerian Car Dealers So Greedy?! by oyb(m): 11:00am On Feb 09, 2012
the real issue for me, is that we have dealers who will sell accidented/flood damaged cars as lightly used

there was an issue in my office where an oga got an officail car, a benz, which started misbehaving after two weeks. a vin search showed the car as flood damaged - and the dealer had sold it as brand new angry angry

there are also the bastids who are fully aware of issues with the car and will sell it to you at cost, leaving you to cope with sorting the problem, which can add lot to the final cost of the car.
Re: Why Are Nigerian Car Dealers So Greedy?! by calculusx(m): 11:02am On Feb 09, 2012
@ OP, blame it on our FG, custom duty paid on some items are more than the cost of purchasing such an item. pls do your research well
Re: Why Are Nigerian Car Dealers So Greedy?! by stagger: 11:03am On Feb 09, 2012
Again this is a thread where only those in the business should comment. Not people who talk based on hearsay.
Re: Why Are Nigerian Car Dealers So Greedy?! by manmustwac(m): 11:05am On Feb 09, 2012
The average Nigerian is greedy so what's the big deal?
Re: Why Are Nigerian Car Dealers So Greedy?! by babyboy3(m): 11:06am On Feb 09, 2012
I dont know how much to ship from Japan car as are extremely cheap and LHD are even cheaper
Re: Why Are Nigerian Car Dealers So Greedy?! by blank(f): 11:11am On Feb 09, 2012
A lot of them are greedy and use underhand business practices.

No matter how much the cabal try to shut people up and even get the topic removed from the front page, the truth is still the truth.
Re: Why Are Nigerian Car Dealers So Greedy?! by biachwest: 11:19am On Feb 09, 2012
Withing the EU zone. one should budget 3000 to 5000 eurs and the shippment depend in which country. spain  france italy 1000 eurs. germany  holland belgium 500eurs.
Do your home work brother. Somany nigeria at home really have that mentality that you pick cars from the streets and shipp them for  nothing.
Re: Why Are Nigerian Car Dealers So Greedy?! by BizBooks(m): 11:26am On Feb 09, 2012
blank:

No matter how much the cabal try to shut people up and even get the topic removed from the front page, the truth is still the truth.

What part of the poster's statement is true? The short answer is none.
Re: Why Are Nigerian Car Dealers So Greedy?! by DAY12(m): 11:28am On Feb 09, 2012
Dukes83:

1 million naira = 6,240 Dollars
1 million naira = 3,947 Pounds
1 million naira = 4742 Euros

Now take these respective amounts and go car hunting in these respective countries, continents which ever you like and see what you can buy.
Unfortunately in Nigeria you will hardly ever find a car that you like and that is in reasonable condition for under a million naira. So which leads me to my next question, why are Nigerian car dealers so quick to raise prices of vehicles that are for sale, and why are people silly enough to actually buy cars at extraordinary prices?

Discuss

baseless Thread! angry

Homework comes first over everything else: set yourself goals and calculate how much is going to land a 1999 honda accord to Lagos-Nigeria.

Cheers
day11
Re: Why Are Nigerian Car Dealers So Greedy?! by BizBooks(m): 11:34am On Feb 09, 2012
I can see that the topic of this thread on the front page is quite different from what we are seeing here. On the front page, it reads "Are Nigerian Car Dealers Greedy?" and not "Why Are Nigerian Car Dealers So Greedy?!". While the change in title makes a meaningful difference, it does not detract from the fact that the thread itself contains fatal inaccuracies.
Re: Why Are Nigerian Car Dealers So Greedy?! by babyboy3(m): 11:37am On Feb 09, 2012
We have some sensitive dealers on here!!!!
Re: Why Are Nigerian Car Dealers So Greedy?! by blank(f): 11:38am On Feb 09, 2012
The truth is that a lot of them are greedy and use underhand business practices. Thought i said that before.  undecided

See as all the greedy cabal dealers are shouting themselves hoarse. The taste of a pudding is in the eating.
Re: Why Are Nigerian Car Dealers So Greedy?! by BizBooks(m): 11:57am On Feb 09, 2012
This thread is becoming tedious. One can accuse Nigerian car dealers of being greedy. I have no problem with that. But you should not attempt to confirm the validity of that accusation by using wrong or bogus information as the poster tried to do.

The poster lost all credibility when he said "anyone who brings in cars from abroad would not pay 210K to clear it, more like 110K to clear it." So if you use his statement as your basis for claiming that Nigerian car dealers are greedy, then you are standing on quick sand.

When you talk about greedy car dealers, you should be talking about dealers who sell salvage, flood or other seriously flawed cars at full price without disclosing those flaws.
Re: Why Are Nigerian Car Dealers So Greedy?! by DAY12(m): 11:58am On Feb 09, 2012
blank:

The truth is that a lot of them are greedy and use underhand business practices. Thought i said that before.  undecided

See as all the greedy cabal dealers are shouting themselves hoarse. The taste of a pudding is in the eating.

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