millhouse:
A car is one of the most valuable asset in a time of recession and pandemic ?? wonderful !

You'll never know.
Now that fuel is N125, and someplace are on Lockdown, my car is proving to be a valuable asset.
I drive to work and back everyday.
Poverty must die.

BigTableShaker:

WTF! You think everyone is poor as you?!
I ain't selling my car anytime soon.
A colleague is buying a Camry May 30th.
All the roads are not blocked!!
You must be a flati.

We are working with Dangote.

Lady I think your comment is harsh...you could have passed your message subtlely even if u wish to show off

Galactico4ever:
Lady I think your comment is harsh...you could have passed your message subtlely even if u wish to show off

I ain't showing off bro, sometimes you need to let pple know grown ups are still here.
NL is full of kids these days.
I'm editing that shitt.
kindly edit my quote too.
Thank you.

Openbusiness:

Lol, na you suppose ask your economics teacher for refund. A car in a time of a pandemic like this is not a luxury but a necessity. And no matter how hard the lockdown gets, people will gradually need to cover more distances to get basic needs like food, drinks and medicines. Because in a short while, all your local shops, retailers, restaurants, markets will run out of stock and you will need to go longer distances to get food and supplies. Do you know you have a greater chance getting the virus taking a public bus or taxi, than when you're driving your own car? And your reasoning is very dull to think people will sell their cars off at a critical time like this. What a joke. People are hoarding food, face masks, sanitizers, PPE's and then you miraculously think it is cars that will be sold off like pure water? So you think in the midst of this pandemic doctors and nurses will prefer to be going around their duty in public transport? Or people will love to queue to take BRT buses, when one infected asymptomatic person is all it takes to infect everyone else. No matter the restriction, people must still move around for supplies. If i'm driving and police stops me and i tell them i'm driving to the market to buy food, or going to the next location to get medical supplies, they will let me go, because i have the right to access food and medicine. A car is one of the most valuable asset during this period.

Try to learn to take correction from a more knowledgeable person when adviced.
Your argument is totally lame.

Wickedfact:
How many cars have the OP sold since the lockdown? Ask him. Before, you used to sell 5 cars to make 3M, now you would sell 13 cars to make that same 3M. Food and medical supplies are essentials now, not cars.

Dollar is now 460. Today, CBN has put 100M on the economy. Those who followed the advice of people like the OP and rushed to buy dollars would get burnt.

Las las, you would still go back to your village and be planting cassava and cocoa for export.

Oga. Me I bought $@360. Next day it was 375. Today its 460. I also bought £same day at 475. It understand it is 510 today.
Dont think my hands hit burnt but rather prevented devaluation of my savings.

nedekid:

Oga. Me I bought $@360. Next day it was 375. Today its 460. I also bought £same day at 475. It understand it is 510 today.
Dont think my hands hit burnt but rather prevented devaluation of my savings.

Well, I like how you said it prevented devaluation of your savings. Savings alone.

Meanwhile, be at alert because the USD would fall in a few days and the speculators holding on to the USD would release more once the CBN pumps in 200M this week and next.

As at this morning on autos section,a tokunbo 2007 Toyota Camry was advertised for 1.6m..
More to come.

Wickedfact:


Well, I like how you said it prevented devaluation of your savings. Savings alone.

Meanwhile, be at alert because the USD would fall in a few days and the speculators holding on to the USD would release more once the CBN pumps in 200M this week and next.

I don't think it will fall yet(I hope it does eventually).
Reason being that oil price is still low and so it it not sustainable cbn pumping fx they are not presently earning, besides there is a backlog of demand for fx from importers and more importantly investors trying to take out their funds.
As I said I hope it falls eventually.

woodrow:
As at this morning on autos section,a tokunbo 2007 Toyota Camry was advertised for 1.6m..
More to come.

the engine go crash in 2 days

nedekid:

I don't think it will fall yet(I hope it does eventually).
Reason being that oil price is still low and so it it not sustainable cbn pumping fx they are not presently earning, besides there is a backlog of demand for fx from importers and more importantly investors trying to take out their funds.
As I said I hope it falls eventually.

You are correct. While there is a genuine demand, there are also speculative factors. The coming weeks will tell.

henrixx:
the engine go crash in 2 days

You're the one who wants to crash the engine?

Someone bought a car on Nairaland a few months ago and came back some days ago to put it up for sale. Reason for sale: urgent need for cash.

Wickedfact:


You're the one who wants to crash the engine?

Someone bought a car on Nairaland a few months ago and came back some days ago to put it up for sale. Reason for sale: urgent need for cash.

calm down. a camry for 1.6 is a red flag. definitely an accidented and likely to have a niggling issue. the person knows why hes put it for much lesser than the normal market value

it's not every cheap thing one should marvel at.

Wickedfact:


Well, I like how you said it prevented devaluation of your savings. Savings alone.

Meanwhile, be at alert because the USD would fall in a few days and the speculators holding on to the USD would release more once the CBN pumps in 200M this week and next.

i wont say too much. I will only say that in the coming days/weeks/months you will find that this your submission on the naira will not hold. Anyone who was smart enough to buy usd or evn buy a car (to resell) as a hedge against the hyperinflation that is soon to come, kudos. Time will tell which theory is correct. I actually did both, and okan mi bale 100%

MODIFIED: Openbusiness, i remember this thread. My comment above has proven true too. Till now, i thank God everyday that i bought USD and that car (which has been sold). Feels good to kick inflation's butt. Glory be to God

BigTableShaker:

WTF! You think everyone is poor as pvssy?!
I ain't selling my car anytime soon.
A colleague is buying a Camry May 30th.
Pple are building houses buying iPhones .and sorts and youre talking as if the country is in war.
All the roads are not blocked!!
You must be a flati.

Keep deceiving yourself with imaginary and audio money.
I know u and OP is the same and one.

shortgun:
lol....Ur economics teacher deserves to be flogged in the village square.
Who buys a car when they are not sure where their next meal will come from?
What you wrote up there is laughable.
People will rather sell their cars at giveaway prices to afford other basic needs.
Where are you driving the car when all roads will be blocked
It's all about demand and supply.

Lol exactly. U spoke my mind.

Openbusiness:
you people are living in dream land? Do you know how many people still need to visit hospitals? A relative of a friend of mine just delivered their baby last night. Is it BRT bus they will enter when going back home with their baby or is it Uber that has carried plenty UK returnees from the airport they should go an enter with their newborn? Don't worry, in the coming weeks, when the lockdown gets to crazy levels, you will know the importance of having a car, and you will know that there are places to drive to. By the time the lockdown starts biting hard on the poor, just expect to see more armed robberies in your neighborhoods, and guess what, the police that were already understaffed and underprepared will be busy worried about saving themselves and their families too, let's see whether you will be trekking when you have an emergency.

So you cant be robbed when you're in a car or own a car?

Where are all those people talking rubbish on this thread? I think the prices of cars have reduced fah?

shortgun:
lol....Ur economics teacher deserves to be flogged in the village square.
Who buys a car when they are not sure where their next meal will come from?
What you wrote up there is laughable.
People will rather sell their cars at giveaway prices to afford other basic needs.
Where are you driving the car when all roads will be blocked
It's all about demand and supply.

Who deserves flogging now?

Queenext:
In as much I didn't want to comment, but decided to change my mind.

Op, demand will always meet supply in any economy, raise the price of your car, and see if people will buy.

You will be forced to sell at affordable rate at the end, especially in a market of many suppliers.

Is the dollar movement upward a new thing, was dollar not below at #200 once, so this won't make a difference in the long run.

So stop this your analysis, it's not tenable in the long run

are people being "forced" to sell at affordable rates now? Mtchwwwww!