Thanks

Honestly, it is not so good to buy a car with a loan but in your case, you should get a car.
Maybe a Camry, a friend just bought a Camry 2009 for 1.4 and it's cool.
Do not buy anyhow car, else you regret it.

Ofemmanu1:
Honestly, it is not so good to buy a car with a loan but in your case, you should get a car.
Maybe a Camry, a friend just bought a Camry 2009 for 1.4 and it's cool.
Do not buy anyhow car, else you regret it.

Thanks �.
2009 Camry 1.4? That cheap? Is it Nigerian used?

Why are you taking a loan for luxury.


My dear. Do not buy the land nor the car. Triple that loan through a business that returns daily income like a convenience store. Luxuries and loan repayment will come out of that, inspite of you saying it would be deducted at source ( Salary )


I hope you listen to sound counsel

FivePeas:
Why are you taking a loan for luxury.


My dear. Do not buy the land nor the car. Triple that loan through a business that returns daily income like a convenience store. Luxuries and loan repayment will come out of that, inspite of you saying it would be deducted at source ( Salary )


I hope you listen to sound counsel

With the way my wife dey treck inside hot sun with my child, I don’t see it as luxury ooh!
To me it’s a necessity. It pains me when I see her carry my child to the market with load too.

Not fair mhen!!! I’m tired. I hussled. Yes I did!
But I can’t watch it mhen!

Freest:


With the way my wife dey treck inside hot sun with my child, I don’t see it as luxury ooh!
To me it’s a necessity. It pains me when I see her carry my child to the market with load too.

Not fair mhen!!! I’m tired. I hussled. Yes I did!
But I can’t watch it mhen!

I know. Calm down. Start stopping her from trekking permanently. Buy a car of 300k.

Out the rest in business and grow that money.

Listen to sound counsel. Money not invested to grow is evil o. Before 20 minutes the money Don kawa

hello my friend first question is how are you going to pay back the loan, second question is if you buy a car and paying back isn't visible what will you do prolly sell it and I bet you it won't be at same price you bought it. But I will be happen to hear it was a salary loan....

But this might interest you, You are lucky to have seen a land of that amount around your area, Mr go for it and of course make sure you being everything to it... lawyer inclusive so as not to be scammed or thereabout.
You only just need to fence the land to secure it of course you don't need a buy and build land...

It's true Lagos hustle and bustle ain't friendly but pls suffer it now and enjoy the benefits in front you will be glad you did.... Trust me money for car will come but not this and not now. Thank you

Open a food store where she can sell vegetable oil, frozen foods, iced fish, chicken etc. You'll be glad you did



1.5M never reach to flex o. No go let your egungun enter express

Chicent:
hello my friend first question is how are you going to pay back the loan, second question is if you buy a car and paying back isn't visible what will you do prolly sell it and I bet you it won't be at same price you bought it. But I will be happen to hear it was a salary loan....

But this might interest you, You are lucky to have seen a land of that amount around your area, Mr go for it and of course make sure you being everything to it... lawyer inclusive so as not to be scammed or thereabout.

It's true Lagos hustle and bustle ain't friendly but pls suffer it now and enjoy the benefits in front you will be glad you did.... Trust me money for car will come but not this and not now. Thank you

Thanks �

FivePeas:
Open a food store where she can sell vegetable oil, frozen foods, iced fish, chicken etc. You'll be glad you did



1.5M never reach to flex o. No go let your egungun enter express

From your first suggestion. Buying a 300k car is more like shooting my self on foot na. Due to obvious reasons.

Thanks for the advice on food store. I should give that a thought. But still my problem hasn’t been solved yet. Seeing them waka inside sun! With two kids ooooooo

Chicent:
hello my friend first question is how are you going to pay back the loan, second question is if you buy a car and paying back isn't visible what will you do prolly sell it and I bet you it won't be at same price you bought it. But I will be happen to hear it was a salary loan....

But this might interest you, You are lucky to have seen a land of that amount around your area, Mr go for it and of course make sure you being everything to it... lawyer inclusive so as not to be scammed or thereabout.
You only just need to fence the land to secure it of course you don't need a buy and build land...

It's true Lagos hustle and bustle ain't friendly but pls suffer it now and enjoy the benefits in front you will be glad you did.... Trust me money for car will come but not this and not now. Thank you

But after buying the land what next? I’m not certain of funds to develop it yet. And I fear omonile in Lagos.

Chicent just answered your question and said exactly what's on my mind. No doubt, buying a car at your instance isn't luxury but a avoidable necessity that is necessary considering your family size. However I would advise you buy the land (with a good tittle) I live in Lagos and I know it's all important to secure the land but atleast you could erect a fence of say 2 coaches to connotes ownership and possession. From the 1.5 million contact a lawyer for the documentation and background check on the land (you could do this along with him), I know it's might seem "expensive" contracting the service of a lawyer but I must say no amount is too big for peace of mind.

Freest:


From your first suggestion. Buying a 300k car is more like shooting my self on foot na. Due to obvious reasons.

Thanks for the advice on food store. I should give that a thought. But still my problem hasn’t been solved yet. Seeing them waka inside sun! With two kids ooooooo

My dear you're under estimating the forum from your comments. If you see the 250k car a guy offered me last year. If I drive that car to your place you won't agree it's 250k.


..Youre trying to solve an inconvenience and 1.5M loan is too much to address an inconvenience as a loan, if it was outright cash fine. But as an inconvenience solver, a 1.5m loan is not the best decision


Think on your feet bro. Go auto section.


Even Pathfinder Jeep can be gotten at 500k. Neat.

I think you can buy a land and a car at same time, you just have to split the money into 2, 650 or 750 should get you a clean Nigerian registered 2001 Toyota Camry (pencil light) then use the other 750k to buy a land somewhere good, just ask around. Or you put the 750k into a side hustle that can fetch you money

Note: you must be well grounded in your side hustle, before investing in it if not your money would go down the drain, also carry a good mechanic when you want to get a Nigerian used car. Please do not be in a hurry to spend

What you did is an unreasonable financial decision.... How could you take a loan without clear understanding of it's intent? Hian!

1. Loan is a debt that must be repaid.
2. It also has an underlying price(interest)

So how did you manage to take one without a plan? Biko call your madam to discuss the matter. Both your options dont look so promising. A car is a liability, unless you can work out how to make it pay and maintain itself by putting it to work when not doing family runs. The land, a long term asset, isn't much of a good idea when you are buying with debt that requires short term servicing. Unless you can put it to immediate use by renting to farmers, mechanics or any other money generating venture. it is well o...be wise with money especially now that the value of money is plunging. Let's minimize waste in the face of the looming depression.

Freest:


But after buying the land what next? I’m not certain of funds to develop it yet. And I fear omonile in Lagos.

Lands appreciates and its just a better way to safe guard your money. Of course you won't buy a land worth 1.5m outright... Get the land and put even if its a dwarf fence round it... But there are sites that are buy and develop avoid those sites.


And you didn't answer how you are to pay back the loan??

Freest:


Thanks �.
2009 Camry 1.4? That cheap? Is it Nigerian used?

taaaah!

he shld get himself a Tokunbo 1.8l engined VW golf 2/3 or Jetta for less than ₦600k.

d balance money he should use to look 4 cheaper land.

e.o.d!

Chicent:



Lands appreciates and its just a better way to safe guard your money. Of course you won't buy a land worth 1.5m outright... Get the land and put even if its a dwarf fence round it... But there are sites that are buy and develop avoid those sites.


And you didn't answer how you are to pay back the loan??

It’s a salary loan! So my salary would service it

sisisioge:
What you did is an unreasonable financial decision.... How could you take a loan without clear understanding of it's intent? Hian!

1. Loan is a debt that must be repaid.
2. It also has an underlying price(interest)

So how did you manage to take one without a plan? Biko call your madam to discuss the matter. Both your options dont look so promising. A car is a liability, unless you can work out how to make it pay and maintain itself by putting it to work when not doing family runs. The land, a long term asset, isn't much of a good idea when you are buying with debt that requires short term servicing. Unless you can put it to immediate use by renting to farmers, mechanics or any other money generating venture. it is well o...be wise with money especially now that the value of money is plunging. Let's minimize waste in the face of the looming depression.

Ok. As at the time of discuss I planned to get a car hence I applied for the loan. Later started having second thought when I saw an available land for sale. But then I have started the process already.

So this was my confusion. I only felt the need for the car cos of the travails of my family

MichaelSokoto:

taaaah!

he shld get himself a Tokunbo 1.8l engined VW golf 2/3 or Jetta for less than ₦600k.

d balance money he should use to look 4 cheaper land.

e.o.d!

Golf Tokunbo 600k? U have any link?

Freest:


Ok. As at the time of discuss I planned to get a car hence I applied for the loan. Later started having second thought when I saw an available land for sale. But then I have started the process already.

So this was my confusion. I only felt the need for the car cos of the travails of my family

I feel you...so speak with your wife about which one is better for you now. As it is, for you to even be having second thoughts means the transportation travails is not dire enough because if you go with the land, the transportation issue will simply persist. Discuss the options with her heart to heart to make a decision. I wish you good luck.

how are you gonna maintain the car?

knocked engine
Changing of oil
Replacement of failed parts, etc

Eberechi24:
how are you gonna maintain the car?

knocked engine
Changing of oil
Replacement of failed parts, etc

That’s not a problem as I still earn!
And I planned to buy tokumbo hence engine issues wouldn’t arise atleast for few years

sisisioge:


I feel you...so speak with your wife about which one is better for you now. As it is, for you to even be having second thoughts means the transportation travails is not dire enough because if you go with the land, the transportation issue will simply persist. Discuss the options with her heart to heart to make a decision. I wish you good luck.

Ok. Thanks boss for ur sound advise! I’ll certainly have that talk!

Freest:


It’s a salary loan! So my salary would service it

Be patient Sir, its still not a great idea.

If you buy the car and it has an issue tomorrow, what would you do ?

If you buy the land, there are no funds to build on it, besides am very skeptical about a 1.5 M land in Lagos, except its at Ibeju Lekki, or remote parts of Lagos, it doesn't sound very genuine. Please do your findings very well, if you decide to go for the land.

Freest:

That’s not a problem as I still earn!
And I planned to buy tokumbo hence engine issues wouldn’t arise atleast for few years

The emboldened part isn't very true Sir, no piece of engineering ever built is 100% efficient .

Buy a far cheaper car, you don't need anything fancy just something that will help you family with motility.

The 300-400k range is okay,The koko is for it to be sound.

Lots of distress sales around

Abeg don't buy agbana car oo

Op buying land is more profitable in Lagos than buying elsewhere. However, if I were in shoes, I wouldn't love to see my baby suffer under the hot sun. Split the money, buy a car and then start a small business that would enable you pay back the loan.

Car is very important in marriage especially in a place like Nigeria, and because you also have kids.

I don't know how much you earn because you need a repayment plan.

Buying of land is something everyone should do before starting a family, not after.

truthsayer009:
Car is very important in marriage especially in a place like Nigeria, and because you also have kids.

I don't know how much you earn because you need a repayment plan.

Buying of land is something everyone should do before starting a family, not after.

You are smart!

Who takes a loan to buy a car or land?except perharps the car is for commercial purposes& likewise the land(leasing).I'd advice anyone who intends getting a loan to invest a part of that loan in a side business to augment your regular income.I have spoken