As we approach the festive season, the traditional joy of acquiring a new vehicle in Nigeria seems to be waning, with 2023 witnessing a substantial drop in car purchases, marking the lowest in the last decade. Grimaldi, a key player in the US to West Africa car shipping, reports a staggering 60-70% decrease in vehicle imports to Nigeria this year, sparking concerns about the feasibility of purchasing cars amidst rising importation costs.
The economic challenges faced by Nigerians, coupled with the surge in petrol prices, foreign exchange scarcity, and the devaluation of the naira, have contributed to the dwindling purchasing power, making vehicle ownership more challenging. Additionally, increased local clearing costs and new surcharges have collectively driven up the overall price of importing vehicles.
In response to these challenges, many Nigerians are turning to locally-used or refurbished cars as a pragmatic alternative. While this choice offers advantages like immediate availability, on-site inspection, and payment in Naira, it comes with its own set of concerns, both human and environmental.
Exploring the Local Route: Smart Choice or Money Drain?
Despite the benefits of immediate availability and simplified transactions, buying locally-used cars raises serious concerns. Many local vehicles suffer from inadequate maintenance, with owners often compromising on crucial aspects like oil quality and utilizing unqualified mechanics. The consequence is a multitude of cars on the roads with fault codes, overlooked issues, and a general lack of proper care.
Furthermore, the quality of spare parts in the market is questionable, often consisting of used or substandard parts that compromise the safety and longevity of the vehicle. Issues such as odometer rollback, disguised vehicle conditions, and unscrupulous practices in detailing and maintenance further contribute to the challenges of opting for locally-used vehicles.
Foreign or Local: Making the Wise Investment
Despite the challenges associated with locally-used vehicles, the decision to invest in a foreign-used option also involves careful consideration. The argument here is that, given the similar “used” status of many supposedly “new” local cars, opting for a foreign-used vehicle may offer better maintenance cost efficiency and a higher resale value.
In conclusion, whether choosing a locally-used or foreign-used vehicle, the investment is substantial. However, weighing the potential pitfalls and maintenance costs, opting for a well-maintained foreign-used vehicle might be a more prudent long-term choice.
In the world of car choices, the debate between a locally-used 2018 model and a foreign-used 2010 Honda Accord continues, leaving consumers to decide which path aligns best with their financial and automotive aspirations.
