How Do I Raise Money For My First Car - Car Talk - Nairaland
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| How Do I Raise Money For My First Car by emmy4lov(op): 5:50am On Jan 21, 2017 |
Good morning nairalanders, Is it possible for a young man between 25-29 years whose earning 600-860k per annum and leaving in Nigeria afford a car.? I mean be able to buy and maintain a car. I'm in need of your advice on how to raise money for my first car, perhaps someone here has gone through this before, How were you able to raise money for you first car and at what age if you don't mind.? |
| Re: How Do I Raise Money For My First Car by GAZZUZZ(m): 5:55am On Jan 21, 2017 |
@ 860k you earn 71k per month. If you use the vehicle to add to ur income (taxi or haulage) then the vehicle is an asset and a helper. But If you want to pose as a car owner it will be very tight. 6 Likes |
| Re: How Do I Raise Money For My First Car by Nobody: 6:19am On Jan 21, 2017 |
hmmm
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| Re: How Do I Raise Money For My First Car by nurey(m): 10:11am On Jan 21, 2017 |
I came into a big fortune and split my cash into two, the biggest share went into investment and the remaining to buy my second ride a 1.5L Nissan Almera. I maintained this car on meagre 19800 NYSC alawee crap. It was a manual ride and maintenance was cheap, fueling was cheap then at 86naira/litre. I could go 100km on 500naira fuel at highway speeds. If you buy the right car, it will be a companion rather than a liability. On raising money, that's easy, place your cash on a board and the board on a jack and use the jack to raise the cash. 5 Likes |
| Re: How Do I Raise Money For My First Car by ogawisdom(m): 1:11pm On Jan 21, 2017 |
Op even during GEJ era it will be difficult to buy and maintain a good ride with dt salary. Nw we are in Buhari era and u want to try it with almost every car parts sold at doubled d price n dollar @ 495, fuel @ 145 n may jump to 200 bc it can only get worse in naija u kw. D other day person tell me he bought car battery sold in early 2015 @ 12k for nearly 30k  Summary op it's possible if u settle for small car like golf 3; but will still be tough given ur salary BC 80k of 2017 no reach 40k of 2014  On d flip side owning a small car u can run around town with is great esp for movement at night, under intense sun n when it's raining, I can't imagine living life without at least a car no matter hw small but a car can put a big hole in one's pocket if nt well managed. 1 Like |
| Re: How Do I Raise Money For My First Car by ukandi1(m): 3:48pm On Jan 21, 2017 |
Brother, with ur take home pay, u can obtain a bank loan against salary. Yes. Its called loan against salary. Repayment duration can be 24 months maximum. U can actually be given up to 700k which can buy u a sound road beater that will serve u well. Gudluck 1 Like |
| Re: How Do I Raise Money For My First Car by redcliff: 5:57pm On Jan 21, 2017 |
GAZZUZZ:Hi, do you know or have the contact of any FRSC official. I need to ask some questions pertaining my licence that only an official can answer. Thanks. |
| Re: How Do I Raise Money For My First Car by GAZZUZZ(m): 7:24pm On Jan 21, 2017 |
redcliff:None, but pattybf can help. 08023138853 |
| Re: How Do I Raise Money For My First Car by pattybf(f): 7:46pm On Jan 21, 2017 |
redcliff:i'm not an FRSC official tho but I may be able to direct ur question(s) to the right channel n possibly get u d right answer! contact in my signature if u wish to go private. |
| Re: How Do I Raise Money For My First Car by redcliff: 9:40pm On Jan 21, 2017 |
pattybf:Please if you can give me the contact of an frsc official i would be very grateful. |
| Re: How Do I Raise Money For My First Car by oluwanoni: 8:27pm On Jan 26, 2017 |
It is possible, save 30k for 2 and a half years, u might get the right small car, and you eventually get the car, it's all about maintenance, remember a car to even those that can afford it, are not assest... . Depreciates over time. 1 Like |
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