₦airaland Forum

Hello Everyone,

I want to go into buying used cars in Nigeria and selling to make some profit.

Please I don't have any experience on this business, that's why I bring it online to hear suggestions and advice from Comrades.

Making 400k - 1 million on profit won't be bad.

Please I need advice, because I want to Start as soon as I got a great advice from Comrades.

Please help a Brother.

Its a Good business at this time many can't afford new or tokunbo.... .

Risk: buying a bad with hidden faults or stolen car ..

But u don't have to buy Everytime to resell ..use brain

advanceDNA:
Its a Good business at this time many can't afford new or tokunbo.... .

Risk: buying a bad with hidden faults or stolen car ..

But u don't have to buy Everytime to resell ..use brain

Please kindly explain why you said I shouldn't buy everytime to resale.

I would want to buy a car to start, if I'm able to sell that one, I will look for other one to buy again for the same sales purpose,

Why did you say I shouldn't buy at all time?

Please I want to know bcs this is a risk business,
Them no dey use millions dey play

Twilight2:
Please kindly explain why you said I shouldn't buy everytime to resale.

I would want to buy a car to start, if I'm able to sell that one, I will look for other one to buy again for the same sales purpose,

Why did you say I shouldn't buy at all time?

Please I want to know bcs this is a risk business,
Them no dey use millions dey play

Car business involves large capital, especially at this inflation period.....u get that already...

So....if u have plenty cash lying around no wahala...u can be buying cars anyhow and sell later.....but if not.... it won't make sense to tie cash down all the time because sometimes, car sales can be very fast and can also be very slow....

1)...its not a bad idea to throw cash into to q deal if the deal is sweet and distress sale.
.for example..a good 2010 muscle going for 2.7M or an RX 330 going for 4M at this inflation time....
why?..these kinda deals cannot stay for long..(u cannot afford to wait to get a sure buyer before u move in.....u don lose guard be that) ........so u can throw in ur cash because u will surely sell later for good profit as both are cars that are in demand ( in my opinion, u can't same with a Ford Mondeo or an Opel zafira, or nissa sentra) so know ur cars.....some cars fly fast...and some dont, unless they are dirty cheap....


2)...it won't make perfect sense to pour ur small working capital to buy a used muscle for 5.5 M and be waiting to sell, unless u have an immediate buyer for it....the chances u will just tie ur cash down is high.....u are business man..u need to turnover money....

***...remember cars need servicing...if its in ur shop fo long and u haven't sold it, u will still cough out maintenance cost.....and cars can be funny... u can just wake up and the engine switch, or one sensor can start saying its time it wants to collect small part of the money u are managing...

So sometimes...it pays to do middle man deals where u market other pples car...and if a buyer shows interest....u can do a quick cash in cash out....( Instead of buying & waiting for buyer u don't know)..na tokunbo dealers dey role like that... ....or if the buyer trusts u...u can even get paid...buy the car and deliver to client, without even using ur capital..

###My opinion shaa

advanceDNA:
Car business involves large capital, especially at this inflation period.....u get that already...

So....if u have plenty cash lying around no wahala...u can be buying cars anyhow and sell later.....but if not.... it won't make sense to tie cash down all the time because sometimes, car sales can be very fast and can also be very slow....

1)...its not a bad idea to throw cash into to q deal if the deal is sweet and distress sale.
.for example..a good 2010 muscle going for 2.7M or an RX 330 going for 4M at this inflation time....
why?..these kinda deals cannot stay for long..(u cannot afford to wait to get a sure buyer before u move in.....u don lose guard be that) ........so u can throw in ur cash because u will surely sell later for good profit as both are cars that are in demand ( in my opinion, u can't same with a Ford Mondeo or an Opel zafira, or nissa sentra) so know ur cars.....some cars fly fast...and some dont, unless they are dirty cheap....


2)...it won't make perfect sense to pour ur small working capital to buy a used muscle for 5.5 M and be waiting to sell, unless u have an immediate buyer for it....the chances u will just tie ur cash down is high.....u are business man..u need to turnover money....

***...remember cars need servicing...if its in ur shop fo long and u haven't sold it, u will still cough out maintenance cost.....and cars can be funny... u can just wake up and the engine switch, or one sensor can start saying its time it wants to collect small part of the money u are managing...

So sometimes...it pays to do middle man deals where u market other pples car...and if a buyer shows interest....u can do a quick cash in cash out....( Instead of buying & waiting for buyer u don't know)..na tokunbo dealers dey role like that... ....or if the buyer trusts u...u can even get paid...buy the car and deliver to client, without even using ur capital..

###My opinion shaa

Thanks and I appreciate this a lot

advanceDNA:
Car business involves large capital, especially at this inflation period.....u get that already...

So....if u have plenty cash lying around no wahala...u can be buying cars anyhow and sell later.....but if not.... it won't make sense to tie cash down all the time because sometimes, car sales can be very fast and can also be very slow....

1)...its not a bad idea to throw cash into to q deal if the deal is sweet and distress sale.
.for example..a good 2010 muscle going for 2.7M or an RX 330 going for 4M at this inflation time....
why?..these kinda deals cannot stay for long..(u cannot afford to wait to get a sure buyer before u move in.....u don lose guard be that) ........so u can throw in ur cash because u will surely sell later for good profit as both are cars that are in demand ( in my opinion, u can't same with a Ford Mondeo or an Opel zafira, or nissa sentra) so know ur cars.....some cars fly fast...and some dont, unless they are dirty cheap....


2)...it won't make perfect sense to pour ur small working capital to buy a used muscle for 5.5 M and be waiting to sell, unless u have an immediate buyer for it....the chances u will just tie ur cash down is high.....u are business man..u need to turnover money....

***...remember cars need servicing...if its in ur shop fo long and u haven't sold it, u will still cough out maintenance cost.....and cars can be funny... u can just wake up and the engine switch, or one sensor can start saying its time it wants to collect small part of the money u are managing...

So sometimes...it pays to do middle man deals where u market other pples car...and if a buyer shows interest....u can do a quick cash in cash out....( Instead of buying & waiting for buyer u don't know)..na tokunbo dealers dey role like that... ....or if the buyer trusts u...u can even get paid...buy the car and deliver to client, without even using ur capital..

###My opinion shaa

You have a good view and I like that from you and I would want to learn from you please.

What business will you advised me to go into with capital of 5 million?

I'm here in Lagos

I would appreciate if you give me time to learn from you.

So that Man no go make mistake wey he go regret later.
Thanks and I'm checking always to see a response from you.