I thought this is worth sharing. Good morning Buying a Used Car: Precautions and Advice for Buyers and Sellers in Nigeria
For Buyers:
Research: Before buying a used car, conduct thorough research on the make, model, and year of the vehicle you are interested in. Check its market value, common issues, and reliability ratings.
Vehicle History Check: Obtain the vehicle's history report to know if it has been involved in accidents, floods, or has any outstanding loans.
Physical Inspection: Always inspect the car in person and, if possible, take a trusted mechanic along to check for any hidden damages or mechanical issues.
Test Drive: Test drive the car to assess its performance, steering, brakes, and other essential functions.
Verify Documents: Ensure that the seller provides all necessary documents, including the vehicle's registration, proof of ownership, and maintenance records.
Payment: Avoid making full payment upfront. Consider using a secure payment method such as a bank transfer, and make the final payment only after completing all necessary paperwork.
Negotiate the Price: Bargain with the seller to get the best deal, but also be reasonable and considerate of the car's condition and market value.
Warranty and Return Policy: If possible, seek a warranty from the seller, or agree on a return policy in case any undisclosed issues arise after purchase.
For Sellers:
Accurate Description: Provide a detailed and honest description of the car's condition, including any known defects or issues.
Transparent History: Be upfront about the car's history, accidents, repairs, and ownership records.
Complete Documentation: Ensure that you have all necessary documents ready for the buyer, including the vehicle's registration and maintenance records.
Reasonable Price: Set a fair and competitive price based on the car's condition and market value. Mission impossible for 9ja dealers especially cars that entered 9ja before custom increase duty n clearance cost
Safety Inspection: Conduct a safety inspection and make necessary repairs before putting the car up for sale. This is hardly ever done . Most car dealers just want to make a profit.
Advertising: Use reputable platforms to advertise your car for sale, and provide clear and high-quality images. Example
Test Drive: Allow potential buyers to test drive the car but accompany them during the process. Killings during test drive is on the rise so go with ARMEd excess company during test drive.
Secure Payment: Verify the payment method before finalizing the sale and avoid accepting personal checks or uncertified funds. Bank transfer is suitable
Transfer of Ownership: Complete all necessary paperwork and transfer the ownership officially to the buyer.
Please ask for a buyers passport, NIN , bank details, drivers license etc before inviting him or her for inspection. There have been many bad tales of car snatching and killings. Audit your potential client before inviting him or her for a test drive.
Desperate times calls for desperate measures
Lastly location ... I advise all advertising cars should always state the exact LGA of the car you intend to sell.
But many will allow buyers to arrive and they will lie that the car was taken to show another client. When truly the car isn't in there location or possession @everyone please add yours |
