₦airaland Forum

yusufu16:
Don't mind them. Car is a necessity and not a luxury especially if you leave in Abuja, Lagos, Ibadan, PortHarcour etc.

I wonder how somebody will buy house and not have a car. Car will increase your productivity as you will not need to waste valuable time on transportation.

baconline:
I think the value of your cars relative to your net worth should be between 0 to 20% , anything more than that might be irresponsible.

I have seen guys who value their cars eat up 80% of their net worth. They are just forming big boys. I don talk my own two cents

emmanuelewumi:
Very good, but difficult.

That means if you are using a car of N2 million, you should have a minimum Networth of N20 million.

SocialJustice:
Yes. It will be hard for flashers to do though not me. That's what I do.

Kingpele:
; hi am still thinking how this rubbish made frontpage, people taste differ, someone that have a sure steady income can use all his savings to buy a car, provided he can maintain it, I can't come and buy beetle just cos I want to save money. after all petrol is the same price for every one, i remember when I was driving one car then everyone on check point will stop me including boyscout and they will demand bribe, still
continued until God saved me from my village people and I got a clean ride... Just yesterday I was coming from where i went to buy something for this lockdown... Menh I saw police check point with keke and cars parked right and left... Police was just looking at me unable to makeup their mind whether to stop me. I just zoomed pass, if na that my former ride I know they will flogged me join... Please hustle well so that u won't go and buy nonsense car in the name of cutting cost.... I don talk my own

hardbody:
The guy you quoted is kinda right.

Ever since I picked up a prado 2016 (or so because i am not even sure of the year again) (upgraded) and then i personalized the registration number, I have never been stopped by the Police. When they do, it is always about what I have for them, no one talks about papers. Some in the earlier days were so funny that they will only touch the body of the suv and touch themselves and then raise both hands towards heaven.

A whack country this is...

grandstar:
Anyone that spends 20m to buy a car out of a 100m deal won't think the way your saying. It's when the money is down to 40m that his eyes will clear. I'm an estate agent and I know what am saying.

seanwilliam:
your net worth is really everything you own of significance (your assets) minus what you owe in debts (your liabilities). Assets include cash and investments, your home and other real estate, cars or anything else of value you own.

IkpuNnegiEwu44:
How do u calculate networth of a civil servant.

In 2016, I saved and used all my savings to buy car. Next month I got paid and managed for some months and started saving again. In 2018 I bought 2 plots of land, completed d fencing in 2019, now saving for d house.

So how did using my whole saving to buy car an unwise decision?

ajl:
Only a Nigerian can use all his savings to buy a car because he has a steady income. I know a businessman wouldn't do that. So, meaning only an employee can do this. This type of person need prayer.

Or you are a victim of Nigeria's "unnatural" circumstances. So, you bought a car on the basis of avoiding police checkpoints. Who still normal for this Nija?

Slawormir:
Damnnnnn niggarrr
Isoright

I understand op very well

But sometimes ehnnn the easiest way to also conquer poverty is to also fake this life and package your life


Even if you don't have much just try and buy that expensive ride. Form big boy for area. That can even attract those people that will even make you to be big

Take for example: you want award contract give two people. One drive Audi car come and the other person drive venza come. Instantly your mind go first tell you say na this venza guy deserve the contract

Princewill1:
The rule is:

Don't buy any luxury you can't afford to buy twice!

Before buying for example a N3million car ask yourself.

Can I afford to buy this car twice without running into financial crisis? If you can afford to buy it twice without any problems.

Then you are qualified to pay for it

lebete3000:


Me I've even vowed never to take loan again, except to start a business.

I'm just completing a loan of 536k I collected last year May, and I realised I didn't use it to do ANYTHING! Except to buy gadgets, fvck olosho, and drink fine wine. Even Car sef I no buy!

Na now my eyes just dey clear after paying above 100k in interest. I just dey shake head for myself, but e go better sha.

Now, the next loan I collect, I go make sure sey i don get my biz plan ready, b4 I collect am...

The tin just be like sey na devil dey do me of, walahi!

amiskurie:
I currently drive 2010 toyota Corolla

In as much as I love cars, acquiring properties still top my agenda for my age.

So when in my forties, I can relax my aggressive investments to use whatever ride I like.

lebete3000:
That's because of the mentality of the country you're in.

What's the name of the nice ride you changed to by the way?

emmanuelewumi:
Mine is 5%, and usually bought from returns on investment


But I can't preach that to people

InvertedHammer:
/

Nothing more than 5% on cars.

If you cannot comfortably buy 5 of them at the same time, then you cannot afford it.

\

Hoodbilonia:
Cashout everyweek
3k dollars

DexterousOne:
Nigerians no dey hear word.


That has always been our problem

HeavenlyBang:
12k a month nai your mumu life still dey like this.

I know say na rubbish you go reply with. No need, I no go reply you.

SocialJustice:
You're right, 20% is even high, it shouldn't go beyond 10%.

hardbody:
The guy you quoted is kinda right.

Ever since I picked up a prado 2016 (or so because i am not even sure of the year again) (upgraded) and then i personalized the registration number, I have never been stopped by the Police. When they do, it is always about what I have for them, no one talks about papers. Some in the earlier days were so funny that they will only touch the body of the suv and touch themselves and then raise both hands towards heaven.

A whack country this is...

lebete3000:
Gosh!!!

But people dey ball for naija sha...meen I need to roll with men like you, to know how to setup a business man!

I'm a medical Doctor but not interested in opening a Hospital biz, cos naija patients no dey like pay Hospital bills.

I'm thinking more of setting up a beer parlor and then upgrading it to a bar. What do you think?

homeboy205:
I understand, but check a situation out.

Let’s say you have 10m in your bank account today and you REALLY REALLY wish to drive a Benz(I MEAN THOSE MONEY YOU WILL SPEND WITHOUT THINKING TWICE NO MATTER WHAT). You can still opt for 3m Benz just to be safe.

Ok. You are my friend, you just bought Benz of 3m, in this Nigeria economy. I know you don’t have only 3m, I will predict you having 5m(not to exaggerate)...

But after buying the car if you go lowest key and let 1 or 2 people know you are broke. (I mean having people buy fuel in the new Benz)Mehn believe me everybody will believe you are broke..

What OP is trying to say is that those homeboys are broke and they are driving big cars forming big boys. You need to stay under the same roof with anyone before concluding they are broke.


So to answer own questions , IF YOU DONT ACT BROKE IN NIGERIA THEY WILL DRAIN YOU ....

I have first hand experience...

babyboy4every1:
Some people just like to dey mince words. The op didn't say u shouldn't buy a car of ur choice. All he was saying is that, there are some guys (my 4 friends onclusive) that emptied there account for a car. They are jobless. They only hursle (according to their saying). Tell me how will they cope if their maga refused to pay[b]. If u must buy a car, Atleast u must still have something sensible in ur account.[/b] Any logical business man will never empty his account for a car.