peeps4u:


Yes, the inflation rates will still not affect anyone who earns in dollars.

You're only looking at it from meagre earning. If you're earning good cash in dollars from Nigeria, falling naira will be in your advantage. Do you buy ps5 everyday or car everyday? How much is onions that will erase the advantage you have when you earn abiut $1k weekly? Imagine earning $4k in a month and you're saying you will care about the price of onions of Ps5.

You're immune to inflation if you earn in dollars while naira crashes.

Do you know you can even buy all these things like ps5 and cars online with the dollars you earn? It is worth of naira that makes these items that costly so what's the fuss about these times when you already have dollars and no need to buy dollars to buy these items.

Move with people who earn online, they won't join you lament naira crash.

Ok Elon musk

For me, the most painful part is that I receive transfers from the US at exactly the CBN's 380 naira/$. But if I want to buy or send money overseas I'm charged an upward of 450 naira. WTH?

The import duty was only slashed recently. After all, implementation is another ball game altogether as far as this country is concerned.

adonainana:
Nigerians are greedy people
Yes dollar has increased but surely the levy import levy on imported cars has been slashed. So how come the effect can’t and won’t be seen by people buying tokunbo cars

Nigerians are greedy people and would exploit any situation. Any price of anything that goes up in Nigeria through chance, luck or pure economics never goes back down when every parameter has been fixed

Tokunbo cars aside, let’s say it cost 1.5million to import a tokunbo Toyota Camry 2009 to Nigeria. And the seller wants to make his own profit and sells for 1.9 million

Please what about used Nigerian cars, how come all of a sudden it is now expensive, like which part of forex deals with Nigerian used cars that has been used on Nigerian roads.

Too much greed in this country and sometimes if you say too much, people would be like if you can’t afford it, shift and same people want corruption to end, sars to end, nepotism to end. Like una never serious yet

Finally this country is a time bomb, imagine sellin a 2006 car for $3,000 (1.4 million )

Imagine a 14 year old car that the Oyimbo manufacturers have even forgotten they made 14 years ago still selling for millions in a third world country that produces nothing of its own and only imports everything to sustain its lifestyle smh

GBTYO:
Reduce landing cost to the barest minimum by patronizing professional auto theft syndicates .


You could get a clean RX-350 for $5,000 .

Landing cost of 3-4mil and sell for 5-6mil profit.

That's the only way.

Insurance will compensate the original car owner.

Sho yawere ni?

Ugoc3:

The reduced import fee is specifically for cars mearnt for transportation of person s..e.g bus..coaster bus.. luxurious bus etc
Personal cars are not included in this
I.e the cost of buses will reduce

What of Trucks, Tippers, Dump trucks, Bullion Vans etc.

seunoj:
The dollar u r even trying to purchase can only be done through informal sector.
You have dollar in ur account but u can't wire abroad. Pay naira to an acct here they help pay in dollars abroad.

The informal sector has been the lifeline of many businesses.

Pls explain better, i don't really get you

Can't believe I read this whole thread from the 1st page. Currently in a dilemma either to buy locally or abroad. The exchange rate has not been favourable though, you use present exchange rate to do plus and minus , next week the spike is crazy. We are really in a banana republic.

sacajawea:

Pls explain better, i don't really get you

By CBN regulation no one is allowed to do offshore transfer except u r doing form A(invisbles like intl sch fees, medical etc.) or form m (visibles - importation of approved goods). These are paid at the cbn official exchange rate by the bank.

Toks car are not valid for fx so u have to source for ur dollar. Even If u have the dollars now, u can't transfer like before because there is ban on offshore transfer for now.

So business have been patronizing the informal sector. They collect naira from them in Nigeria and help pay the beneficiary in the country of choice in their own currency. The exchange is determined by them.
Hope this is clear

seunoj:


By CBN regulation no one is allowed to do offshore transfer except u r doing form A(invisbles like intl sch fees, medical etc.) or form m (visibles - importation of approved goods). These are paid at the cbn official exchange rate by the bank.

Toks car are not valid for fx so u have to source for ur dollar. Even If u have the dollars now, u can't transfer like before because there is ban on offshore transfer for now.

So business have been patronizing the informal sector. They collect naira from them in Nigeria and help pay the beneficiary in the country of choice in their own currency. The exchange is determined by them.
Hope this is clear

Ok, but the rate is not the official rate, right?
If say i want to import goods from a Company China, Dubai, US or Asia in Large Quantity and the Costs goes up to hundreds of thousands of dollars, what is the best way to go about this?
Getting the official rate (or something very very close is Crucial) is Crucial.

sacajawea:

Ok, but the rate is not the official rate, right?
If say i want to import goods from a Company China, Dubai, US or Asia in Large Quantity and the Costs goes up to hundreds of thousands of dollars, what is the best way to go about this?
Getting the official rate (or something very very close is Crucial) is Crucial.

For cars, you'll have to get someone in the US to pay Dollars on your behalf for the purchase, then you'll pay into the Naira account of the person the unofficial rate of Naira equivalent currently N494/$ though I know it quite negotiable depending on your contact. And those guys abroad are mean with it. They are always current with the unofficial rate, and they'll tell you the current rate which is what they'll want you to pay. Of course could be painful, but we've got no choice. That's where we've found ourselves. Meanwhile if they have to send Dollars home through their account they'll pay them with the official rate of N380/$

sacajawea:

Ok, but the rate is not the official rate, right?
If say i want to import goods from a Company China, Dubai, US or Asia in Large Quantity and the Costs goes up to hundreds of thousands of dollars, what is the best way to go about this?
Getting the official rate (or something very very close is Crucial) is Crucial.

Definitely not at official rate. Rate is negotiable but I know usd now trades BTW 450 n 465 in that informal market based on negotiation.
I dont have a contact in the market so don't ask me. The market is volatile too as fraudsters dey there. Open ur eyes and do quality referrals only.

Trustme2:

For cars, you'll have to get someone in the US to pay Dollars on your behalf for the purchase, then you'll pay into the Naira account of the person the unofficial rate of Naira equivalent currently N494/$ though I know it quite negotiable depending on your contact. And those guys abroad are mean with it. They are always current with the unofficial rate, and they'll tell you the current rate which is what they'll want you to pay. Of course could be painful, but we've got no choice. That's where we've found ourselves. Meanwhile if they have to send Dollars home through their account they'll pay them with the official rate of N380/$

Ok, but I'm talking of Official business with an international Company, how do I get Dollars at the official rate or at least something very Close to the Official rate, about hundreds of thousands is involved here. Someone said i should go to Bank, that they can and will give me

The more you know about the vehicle the safer you will be. Run a VIN check and verify critical facts you need to buy a used car with confidence. Check the title status, previous odometer readings and the current market of the vehicle. Do as many checks as possible to ensure you are getting a legitimate offer.


www.nairaland.com/computerglobal






www.nairaland.com/attachments/10000072_vehiclehistoryreport_jpeg3e8dde5a1fb4cccbf6626e983b2598da

sacajawea:

Ok, but I'm talking of Official business with an international Company, how do I get Dollars at the official rate or at least something very Close to the Official rate, about hundreds of thousands is involved here. Someone said i should go to Bank, that they can and will give me

I think there are approved businesses that the government/banks gives dollars too for such transaction. I don't know what kind of business you're talking about though, so you may have to visit a bank to find out if your business could be funded with dollars at the official rate

seunoj:


Definitely not at official rate. Rate is negotiable but I know usd now trades BTW 450 n 465 in that informal market based on negotiation.
I dont have a contact in the market so don't ask me. The market is volatile too as fraudsters dey there. Open ur eyes and do quality referrals only.

Ok, but I'm talking of Official business with an international Company, how do I get Dollars at the official rate or at least something very Close to the Official rate, about hundreds of thousands is involved here. Someone said i should go to Bank, that they can and will give me

Trustme2:

I think there are approved businesses that the government/banks gives dollars too for such transaction. I don't know what kind of business you're talking about though, so you may have to visit a bank to find out if your business could be funded with dollars at the official rate

Ok, i will do that

sacajawea:

Ok, but I'm talking of Official business with an international Company, how do I get Dollars at the official rate or at least something very Close to the Official rate, about hundreds of thousands is involved here. Someone said i should go to Bank, that they can and will give me

Check if the items are valid for FX. Go to cbn website or just ask Google or visit the bank they will tell u if it's valid.
If valid, u can use the bank to get fx but of course there is queue and its not automatic.
If no, it's not possible. Na informal sector last last

Contact me 08024057075

No be small thing. I dey pity dem. Please I need foreign used Lexus RX 350 2009. It must be very neat with good title[/b][/quote]

chrisifeanyi:


What's mileage and Vin?

What is your location so I'll brief you when the car lands by mid December....

calculusx:


The matter tire me menn. . You buy $ #450 at the time of Purchase. Time to pay for Shipping you'll buy $ @ #470, before the Car gets here and you are ready to sell $ has gone up to #500.I'm frustrated

https://www.nairaland.com/6266078/clean-title-2004-toyota-corolla

$2093 + $1400 x #450 = #1,547,550 + 500,000 = $2,047,550. I can't even boast of 50k profit as there are still little things to fix

/
Most of the people complaining are the ones who have never imported even toothpicks in their lives. Car import was what we ran on the side as students. I bow to anyone who has the balls to import vehicles into Nigeria. Yesterday, CBN secretly devalued naira officially to N390/$. Expect parallel market to hit N500/$ and this is with US dollar index at 2 years low. There goes people's profits. Who will wait at least a month turnaround to make N100k profit in a used vehicle? It sounds like a colossal waste of time to me.
\

InvertedHammer:

/
Most of the people complaining are the ones who have never imported even toothpicks in their lives. Car import was what we ran on the side as students. I bow to anyone who has the balls to import vehicles into Nigeria. Yesterday, CBN secretly devalued naira officially to N390/$. Expect parallel market to hit N500/$ and this is with US dollar index at 2 years low. There goes people's profits. Who will wait at least a month turnaround to make N100k profit in a used vehicle? It sounds like a colossal waste of time to me.
\

Very Correct Bro. This business needs a lot of patience especially with customers. They can't understand

Indeed

blackedwin:
2013 Toyota Camry SE 4.65M hit me if you're interested. Cheers

Do you have ES350 2012

banidoc:


Do you have ES350 2012

I have 2010. From 2010 to 2012 are the same. Let me know if you're interested

0 8 0 6 0 9 8 5 9 1 6
0 9 0 5 5 5 1 3 2 1 0

Trustme2:

I have 2010. From 2010 to 2012 are the same. Let me know if you're interested