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Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? - Car Talk - Nairaland

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Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 4:47pm On Dec 12, 2014
Hello Car lovers and Enthusiasts.

I would love your penny and dollar opinion on which is a better deal as regards buying my first automobile. I'm actually thinking of buying the Kia Rio via Auto loan which will run for either 24 to 48 months depending on my choice. Some other folks think its best I buy a foreign or Nigerian fairly used car as it would save me so much cash. However, i value the quality that comes with a new vehicle but i'm still confused.

Please pals, I need your urgent and very helpful advice.

Which option do I take?

Thanks in advance.
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by sultaan(m): 5:12pm On Dec 12, 2014
If you have cash to buy a car you can do better than a RIO.

The problem has been that when Nigerian dealers buy cars from auction most ship salvage or high mileage cars and roll back the odometer.

A coworker of mine just bought a 2008 Charger with 120k miles for less than you'll buy you Kia ANd I was impressed(never looked inside or driven one) by the space ride and engine.

You can contact inspired autos for a quote on a Altima or even a Civic if you want something small.The idea here is if you know what you are buying ahead before it gets into Nigeria you will know its condition
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 5:28pm On Dec 12, 2014
sultaan:
If you have cash to buy a car you can do better than a RIO.

The problem has been that when Nigerian dealers buy cars from auction most ship salvage or high mileage cars and roll back the odometer.

A coworker of mine just bought a 2008 Charger with 120k miles for less than you'll buy you Kia ANd I was impressed(never looked inside or driven one) by the space ride and engine.

You can contact inspired autos for a quote on a Altima or even a Civic if you want something small.The idea here is if you know what you are buying ahead before it gets into Nigeria you will know its condition

Thanks bro...

In your opinion, its better to buy a used car from outside the country as long as you can track its history, right?

Also, is Inspired Autos online?

Thanks again, bro...
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Nobody: 5:36pm On Dec 12, 2014
Durchmann:


Thanks bro...

In your opinion, its better to buy a used car from outside the country as long as you can track its history, right?

Also, is Inspired Autos online?

Thanks again, bro...
Do not dare dealing with inspired autos, the man is a high class fraudster, I suggest you look for better options

8 Likes

Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 5:52pm On Dec 12, 2014
edozie04:
Do not dare dealing with inspired autos, the man is a high class fraudster, I suggest you look for better options

Thanks bro...

Please give me your opinion as well on my post.

Thanks again...
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Nobody: 5:54pm On Dec 12, 2014
Durchmann:


Thanks bro...

Please give me your opinion as well on my post.

Thanks again...
I do not really have much to say but I havr had an experience with inspired autos and it aint a pleasant one

2 Likes

Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by holatin(m): 6:15pm On Dec 12, 2014
if you biy something with loan, you don't own dat thing yet until you pay d debt finish.
Anything can happen
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 6:43pm On Dec 12, 2014
holatin:
if you biy something with loan, you don't own dat thing yet until you pay d debt finish.
Anything can happen

Yeah!

You have a point but I was planning to do comprehensive insurance for it as well in order to cut my losses if there's a mishap some how.

Thanks bro...
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by holatin(m): 6:46pm On Dec 12, 2014
Durchmann:


Yeah!

You have a point but I was planning to do comprehensive insurance for it as well in order to cut my losses if there's a mishap some how.

Thanks bro...

U welcome sir.
But wount you insured with money ?
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 6:59pm On Dec 12, 2014
holatin:

U welcome sir.
But wount you insured with money ?

Yes!

You will definitely insure with money but its better since you have good cover.

If anything happens, you need not worry.
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by chucky234(m): 9:47pm On Dec 12, 2014
I can get you good tokunbo car with actual mileage and non accidented.
Your peace of mind is guaranteed.
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 10:28pm On Dec 12, 2014
Thanks bro...
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 10:31pm On Dec 12, 2014
Please mods, you could also help me by placing this on the front page.

I'd really appreciate as much opinions as I can get.

Help an undecided brother here O!

Thanks in advance!!!

wink wink wink
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by AutosBay(m): 10:32pm On Dec 12, 2014
@ Op get the brand new car you shouldn't be confused especially when you consider the durability and comfort a brand new car offers.
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 10:47pm On Dec 12, 2014
AutosBay:
@ Op get the brand new car you shouldn't be confused especially when you consider the durability and comfort a brand new car offers.

Yeah!
That's the part i considered O!

The comfort, durability as well as the long intervals it may take before it visits the auto shop for repairs except for routine maintenance.

Thanks bro...
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by chucky234(m): 11:09am On Dec 13, 2014
AutosBay:
@ Op get the brand new car you shouldn't be confused especially when you consider the durability and comfort a brand new car offers.
Certainly not KIA Rio

1 Like

Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by chucky234(m): 11:11am On Dec 13, 2014
Durchmann:


Yeah!
That's the part i considered O!

The comfort, durability as well as the long intervals it may take before it visits the auto shop for repairs except for routine maintenance.

Thanks bro...
Meet me in Festac so I can show you good cars with performance guarantee.
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 11:44am On Dec 13, 2014
chucky234:
Certainly not KIA Rio

That's what I can easily afford with an Auto-loan.

Please advise. Do you have a better brand new car option with Auto-loan?

chucky234:
Meet me in Festac so I can show you good cars with performance guarantee.

I know that most cars I see in Festac are not new cars and maybe some are salvaged too. Do you sell old or new? If new, do you allow for Auto-loan purchase?
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by ogawisdom(m): 12:14pm On Dec 13, 2014
Buy wat ur money at hand can afford ie toks u dnt borrow for consumption but for investment tongue
Contrary to popular opinion ur brand new car can be damaged d next day by an accident n u still end up in d auto shop for repairs angry n u r heavily indebted already.
Borrowin for consumption is bad economics

8 Likes

Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by chucky234(m): 1:27pm On Dec 13, 2014
Durchmann:


That's what I can easily afford with an Auto-loan.

Please advise. Do you have a better brand new car option with Auto-loan?



I know that most cars I see in Festac are not new cars and maybe some are salvaged too. Do you sell old or new? If new, do you allow for Auto-loan purchase?
Tokunbo cars with clean title not salvaged, I'm an honourable member of this section and I can assure you of what I'm giving you depending on your budget.
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Denn(m): 6:30pm On Dec 13, 2014
Dear OP,

Please read my post carefully and heed my advice lest it haunts you in some years time.

If the vehicle is to be used in Nigeria, please buy a fairly used one instead of a kia Rio.

The resale value of a kia Rio drops by almost 50 percent the day you drive out of their car lot.... Yes in 24 hours.

You enjoy the perps and new rubber smell for some few months but the following starts happening....

You find out the audio is not a high quality one
the shocks and bushings are not well groomed for our wonderful roads.
The fuel mileage is not as advertised.
You have very limited luxury options
The bulbs blow out
The battery dies when you least expect and you find out it is not covered under warranty.
You complain about your shocks at the service centre and all they just replace are the Stabilizer links
You wait hours just to service your car. If you get your car in 3 hours, you are lucky. Waiting room is cozy though.
By the time you are selling, the value has dropped so low and there would be limited offers you would think you were driving a napep.
An okada man knocks off your mirror, God help you getting a cheap replacement. A napep pulls out your bumper... Hope you have 2 ATM cards filled with cash.

If however you stay on banana Island and will drive mostly on smooth roads without the everyday hustle with yellow buses, then go ahead.... You can't be allowed to go through the hassles of a used product... A clean 2007 model BMW 3 series or Camry will give you better satisfaction.

Words of a brand new 2013 kia Rio user.

14 Likes 1 Share

Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by ekoboy: 2:20pm On Dec 14, 2014
Denn:
Dear OP,

Please read my post carefully and heed my advice lest it haunts you in some years time.

If the vehicle is to be used in Nigeria, please buy a fairly used one instead of a kia Rio.

The resale value of a kia Rio drops by almost 50 percent the day you drive out of their car lot.... Yes in 24 hours.

You enjoy the perps and new rubber smell for some few months but the following starts happening....

You find out the audio is not a high quality one
the shocks and bushings are not well groomed for our wonderful roads.
The fuel mileage is not as advertised.
You have very limited luxury options
The bulbs blow out
The battery dies when you least expect and you find out it is not covered under warranty.
You complain about your shocks at the service centre and all they just replace are the Stabilizer links
You wait hours just to service your car. If you get your car in 3 hours, you are lucky. Waiting room is cozy though.
By the time you are selling, the value has dropped so low and there would be limited offers you would think you were driving a napep.
An okada man knocks off your mirror, God help you getting a cheap replacement. A napep pulls out your bumper... Hope you have 2 ATM cards filled with cash.

If however you stay on banana Island and will drive mostly on smooth roads without the everyday hustle with yellow buses, then go ahead.... You can't be allowed to go through the hassles of a used product... A clean 2007 model BMW 3 series or Camry will give you better satisfaction.

Words of a brand new 2013 kia Rio user.
How can a tokunbo car ever be better than a new car guy. Have you used both or your case is that of grass is greener on the other side?
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by sultaan(m): 4:00pm On Dec 14, 2014
ekoboy:

How can a tokunbo car ever be better than a new car guy. Have you used both or your case is that of grass is greener on the other side?


Yes tokunbo can be a lot better than a Nigerian new car if you don't buy those salvage/junks usually shipped into Nigeria by importers
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 5:56pm On Dec 14, 2014
Denn:
Dear OP,

Please read my post carefully and heed my advice lest it haunts you in some years time.

If the vehicle is to be used in Nigeria, please buy a fairly used one instead of a kia Rio.

The resale value of a kia Rio drops by almost 50 percent the day you drive out of their car lot.... Yes in 24 hours.

You enjoy the perps and new rubber smell for some few months but the following starts happening....

You find out the audio is not a high quality one
the shocks and bushings are not well groomed for our wonderful roads.
The fuel mileage is not as advertised.
You have very limited luxury options
The bulbs blow out
The battery dies when you least expect and you find out it is not covered under warranty.
You complain about your shocks at the service centre and all they just replace are the Stabilizer links
You wait hours just to service your car. If you get your car in 3 hours, you are lucky. Waiting room is cozy though.
By the time you are selling, the value has dropped so low and there would be limited offers you would think you were driving a napep.
An okada man knocks off your mirror, God help you getting a cheap replacement. A napep pulls out your bumper... Hope you have 2 ATM cards filled with cash.

If however you stay on banana Island and will drive mostly on smooth roads without the everyday hustle with yellow buses, then go ahead.... You can't be allowed to go through the hassles of a used product... A clean 2007 model BMW 3 series or Camry will give you better satisfaction.

Words of a brand new 2013 kia Rio user.

Thanks bro...

Very helpful post here.

Maybe i will have to wait and get a good used car then.

I didn't know kia rio was that bad.

Could u advise what could be my best option?

Thanks again.
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 5:57pm On Dec 14, 2014
ekoboy:

How can a tokunbo car ever be better than a new car guy. Have you used both or your case is that of grass is greener on the other side?

Please give your opinion.

Every opinion is worth considering.
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by 234GT(m): 10:35pm On Dec 14, 2014
Assuming you have the ability to pay for the tear nylon kia outright, I would have advised you to go for it.
As it stands, buy a toks from 2005 and you won't regret it. Go with a good mecho to inspect it for you.
Moral: Brand new cars are better than tokunbo cars IF AND ONLY IF you can pay outright for it.
Why buy a car that would be worn out by the time you are completing the payment?
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by jukeblam(m): 11:45pm On Dec 14, 2014
+1:
Denn:

You find out the audio is not a high quality one- sometimes speakers could be missing even
the shocks and bushings are not well groomed for our wonderful roads; yet these vehicles are supposedly assembled for Nigeria oh lipsrsealed
You have very limited luxury options; all that plasticky feel, poor padding- car interior heats up back immediately one turns off the A.C!

Just get yourself a tokunbo American Specs car if you have enough cash; forget all these made-for-Nigeria brand new cars- especially the Asian brands.
Now, I cannot say what obtains in the case of brand new American or European brands sold in Nigeria viz the Fords, BMWs et al but Kia, Hyundai?? Man, leave 'em alone!
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Durchmann(m): 12:51pm On Dec 15, 2014
234GT:
Assuming you have the ability to pay for the tear nylon kia outright, I would have advised you to go for it.
As it stands, buy a toks from 2005 and you won't regret it. Go with a good mecho to inspect it for you.
Moral: Brand new cars are better than tokunbo cars IF AND ONLY IF you can pay outright for it.
Why buy a car that would be worn out by the time you are completing the payment?
jukeblam:
+1:


Just get yourself a tokunbo American Specs car if you have enough cash; forget all these made-for-Nigeria brand new cars- especially the Asian brands.
Now, I cannot say what obtains in the case of brand new American or European brands sold in Nigeria viz the Fords, BMWs et al but Kia, Hyundai?? Man, leave 'em alone!

Thanks pals...

Nice advise.

I should check this up on auctionexport.com. A friend introduced me to that web page.
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by oluks05: 12:25pm On Dec 16, 2014
Interesting topic
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by ekoboy: 7:39am On Dec 17, 2014
OP, here is my take on this.
Statistics shows that after 5 years you will have spent the amount you used in purchasing the car. The point am trying to make here is that the parts in the car have life span so buying a tokunbo car simply means you are acquiring a property that is at the end of its shelf life so most parts will need replacements and when you consider the fact that we have fake parts and fake mechanics you are in for rough time very early.


In 2008 i purchased a brand new hyundai elantra while most of my friends purchased 2003 Honda accord and Camry for the same amount. 3 years later i was still rocking my car without stress while my friends were all tired of the issues with their tokunbo cars and were already starting to replace them.

In 2010 for lack of funds to purchase a brand new SUV i got a tokunbo(200). From the first month its was brake cylinder. Onwards it was one part spoiling every other month. I realised that all these parts were just due for replacement. So it amazes when ppl way tokunbo is better. New is new and old is old.

On your choice I feel we've be deceived into thinking we need to drive heavy engines. The primary purpose of a car is to take you from point A to B and Kia Rio will do that excently and cheaply too. For my guy that said you won't get the stated fuel consumption, you won't get it either in any car mainly.because of quality of.fuel available and excessive idling and stop and go that we do in this country.

So my guy if i have a choice for a brand new car i'll jump on it. Your car should work for you and not you working for the car. Don't make a mechanic your best friend.

By the way i bought my tokunbo SUV myself from the States and was clean titled.

4 Likes

Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by Nobody: 7:57am On Dec 17, 2014
ekoboy:
OP, here is my take on this.
Statistics shows that after 5 years you will have spent the amount you used in purchasing the car. The point am trying to make here is that the parts in the car have life span so buying a tokunbo car simply means you are acquiring a property that is at the end of its shelf life so most parts will need replacements and when you consider the fact that we have fake parts and fake mechanics you are in for rough time very early.


In 2008 i purchased a brand new hyundai elantra while most of my friends purchased 2003 Honda accord and Camry for the same amount. 3 years later i was still rocking my car without stress while my friends were all tired of the issues with their tokunbo cars and were already starting to replace them.

In 2010 for lack of funds to purchase a brand new SUV i got a tokunbo(200). From the first month its was brake cylinder. Onwards it was one part spoiling every other month. I realised that all these parts were just due for replacement. So it amazes when ppl way tokunbo is better. New is new and old is old.

On your choice I feel we've be deceived into thinking we need to drive heavy engines. The primary purpose of a car is to take you from point A to B and Kia Rio will do that excently and cheaply too. For my guy that said you won't get the stated fuel consumption, you won't get it either in any car mainly.because of quality of.fuel available and excessive idling and stop and go that we do in this country.

So my guy if i have a choice for a brand new car i'll jump on it. Your car should work for you and not you working for the car. Don't make a mechanic your best friend.

By the way i bought my tokunbo SUV myself from the States and was clean titled.
What was the mileage of your Toks suv.
Re: Which Is Better? Getting A Brand New Car With An Auto Loan Or Buying Tokunbo? by ekoboy: 10:24am On Dec 17, 2014
saxywale:

What was the mileage of your Toks suv.
Less than 90k miles

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