To Import Used Cars in Nigeria is a good business because Nigeria has a large population with purchasing power. Anyway, the USA and Canada are said to be the best place to import cars any time any day, because the cars from those countries are most desirable due to America’s specifications for automobile making companies.
Importation is normally considered to be a stressful process because of the two major setbacks and obstacles people face, which are Bureaucratic and The Yahoo Yahoo Factor. The challenging part of vehicle importation into Nigeria is to bring everything in one place buying the car, the shipping and clearance at the port, all of these steps need adequate patients, below are factors you need to be aware of before importing the used car into Nigeria.
1. Vehicle Feature and Conditions
Before acquiring a vehicle, you have to consider remarkable details of the vehicle, such as the brand and model of the car, the year of manufacture, its engine size, etc. would influence shipping and clearance costs. Request from the seller/agent the Vehicle Identification Number (VIN), which is the unique identifier of every vehicle produced. Use that to look up the information about the said car online.
2. Cost of Vehicle and Importation
Inexperienced persons in the importation business often underrate the cost of vehicle purchase and importation expenses. In order not to be stranded over lack of funds, ensure you gather every necessary information concerning the total cost. Even with that, expect to spend more than you have budgeted and so set aside a reasonable sum of money for unforeseen expenses and miscellaneous expenses.
3. Current Transformation Rates
It is important to know the
total cost of the vehicle and importation rates. You have to factor in the
current exchange rate of the naira to the currency of the country from which
you want to import the car. Whenever you are ready to start looking up cars
online, do well to follow the currency fluctuations so that you can purchase at
just the right time. That would even help you save some money.
4. ‘Second-hand’ Value
This process refers to the resale value of the car after it has been used. Vehicles with a high second-value include Toyota models (especially Camry and Corolla), Honda Accord, certain Mercedes models, etc. It means you can get a reasonable price off one when you decide your time with it is up. To have this included in your considerations, you need to understand the economics of demand and supply.
5. Read Online Reviews
It is best to test-drive a
car before making a purchase, but if the vehicle is coming from abroad, then
there is no way to do that. However, the closest you can get to a test drive is
to research the car online and read reviews on it. That helps you to determine
if the vehicle you have selected matches your personal preferences and to infer
what driving it feels.
6. Shipping Method
The two primary shipping
methods are container shipment and ‘roll-on, roll-off,’ also known as RORO. For
the latter option, the car would be driven into a particular ship for vehicle
cargo and driven down, too, when it arrives here. There are safety concerns
with that, but it is a cheaper and more convenient option. Plan how the
purchased car would get here so that you would not ignorantly incur unnecessary
7. Spare Parts Availability
For most car buyers, maintenance expenses are an essential consideration, especially when it comes to the availability of spare parts. It is not a problem for most of the famous car brands and models such as Toyota Camry and Corolla, Honda Accord, etc. However, it is for high-end cars and less popular vehicle models.
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8. Research the current Immigration Laws
Before making any purchase at
all, acquaint yourself fully with all the immigration laws and customs
requirements of the nation. It can save you from many possible mistakes. For
instance, some have purchased cars from certain countries only to find out that
the law bars shipping from those nations. Also, in Nigeria, vehicles
manufactured more than fifteen years ago cannot enter the country. There are
many more regulations that you need to find out before you pay to buy any car.
9. Reliability/Trust of Partners
You cannot be directly involved in every detail concerning the importation of your vehicle. Therefore, work only with trusted partners and dealers if you do not want to be the victim of fraud. For instance, unless you liaise with a relative or trusted friend based abroad, you would have to purchase the car online. Besides, in Nigeria, only certified agents can clear vehicles at the ports, so everyone is literally at their mercy. The bottom line is that you should make all the necessary checks and be sure you are dealing with a trustworthy person.
10. Obey all Shipping and Clearance Requirements
It is about having the
necessary documents and papers ready on time and knowing the steps to follow.
In importation, every step is essential, and you can only get away with missing
a step for a short while before the law catches up with you. As you know,
ignorance is not an excuse for breaking the law, and not in cases such as this.
Update yourself with the current information.
Hope this article was helpful in gathering some important information. Before importing used cars into Nigeria.
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