Top 10 cars with worst resale values in Nigeria

04/28/2020

Posted by: 234DRIVE x NAIJAUTO.COM

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There are cars that are very difficult to resell in Nigeria because they lose their value very quickly due to some reasons highlighted in this article.

It's always a bliss to easily sell off our present car(s) to get more funds for a new one or for other purposes. However, some cars are easy to resell at a good value because the majority of used car buyers in Nigeria want them while others never get valued well by buyers.

What are these cars with bad resale values in Nigeria? Buckle up to discover them!

10 cars with the worst resale values in Nigeria!

1. BMW 5 Series (2003 - 2010)

The BMW 5 Series E60 is a luxury mid-size sedan produced by BMW between 2003-2010. You can watch my review of the BMW E60 in Nigeria below:

Video: BMW 5 series review by 234DRIVE 

To start with, this car has its battery placed in the trunk for better weight distribution and this scares a lot of Nigerians when they want to buy the car. When battery issues come up, the E60 has to be handled with care in order not to develop complex electrical issues.

The-BMW-5-SERIES-E60

The BMW E60

This makes the E60 have a bad resale value as a used car for sale. However, people admire the car from afar and assume it's worth more than it really is because of its aggressively sporty appearance.  

2. Ford Taurus (2010 -2015)

The Taurus is a Ford mid-size sedan from America. It's a fact that Nigerians don't resonate well with the way Americans design their sedans as it often has that boxy and rigid shape. The sixth-generation Taurus made its way to Nigeria but it is always stalling at car dealers' lots.

The-rear-of-the-Ford-Taurus-2014-year-model

The rearview the Ford Taurus 

The car has a very complex ambiance. Merely looking at the car as a Nigerian, you question yourself. Do I really need this car? Is this car not too big? Why are there buttons everywhere? Would it be easily fixed in Nigeria if it develops a fault?

A-front-view-of-the-2010-Ford-Taurus

Front view of a 2010 Taurus in Nigeria

Ford cars in Nigeria have a limited supply of parts which makes them very pricy. Bad resale value on the Ford Taurus is thereby expected.

3. Supercars in Nigeria

Most supercars that get sold as second-hand cars in Nigeria often get bargained by customers at very ridiculous prices. It's a good thing that most supercar owners in Nigeria are of the wealthy class of people. In developed countries like the UK and America, average citizens can own supercars because not all of them run into million-dollar price tags.

Supercars-being-transported-on-a-Trailer-bed

How Supercars are transported overseas

Nigerian supercar owners pay fortunes to ship in and clear the car with customs, which makes it very difficult to sell them because the price becomes ridiculous to a Nigerian buyer. Imagine having to pay almost half of a car's worth as duty. I hope you know there are some supercars that are worth more than jets?

A-line-up-of-supercars-in-Abuja-Nigeria.

A line-up of supercars in Abuja

Nigerians would want to buy used supercars at the same price it's sold abroad because their practicality in Nigeria is below average with road rages and no properly maintained outlets for the cars. Besides, it always seems like a burden to buyers so they always bargain at very ridiculous prices.They are the reasons why supercars in Nigeria have a very poor resale value.

On another hand, most owners, for those reasons, would rather not sell theirs because they know it's difficult for anyone to pay for its true value. It's one of the struggles of owning a supercar in Nigeria.

4. Innoson Cars

All Innoson cars have a very bad resale value in Nigeria. The indigenous car brand is still at the level where no one knows its capability as a car that needs to be driven daily in Nigeria. 

Nigerian-made-Innoson-cars-have-bad-resale-value

One of Innoson's saloon cars

The consumers of Innoson cars are government bodies and co-operate organizations that buy for its staff and officials. The brand is not yet certified to go mainstream in the Nigerian used car market. This is unfortunate because the brand is made in Nigeria.

>>> Read more about Innoson Motors: Innoson Motors: price list 2020, facts about its owner, logo, & Nnewi factory

5. Mercedes-Benz R Class

The R-Class Benz is an MPV that Benz produced between 2006 - 2013. MPV stands for Multi-Purpose Vehicle and that's why the R-class is a very spacious 7 seater car. However, this car doesn't have that typical luxurious Mercedes look because of the hatchback styling.

R-class-Mercedes-Benz-Van-in-Nigeria

The R-Class Mercedes-Benz MPV

This makes the R-class have a bad resale value in Nigeria. There are a lot of better performing 7 seater vans like the Toyota Sienna and Honda Odyssey which people buy over the R-class. Nobody searches for a Mercedes-Benz in Nigeria as a multi-purpose vehicle.

6. Toyota Sequoia (2000-2007)

When this full-size Toyota SUV started selling in Nigeria, people perceived it to be a competition to a Mercedes-Benz GL class so it got a lot of sales. Fun fact! the Toyota Sequoia is the largest production vehicle Toyota ever made but it wasn't luxurious like the Land Cruiser.

Toyota-sequoia-V8-full-size-has-bad-second-hand-value-in-Nigeria

Toyota Sequoia V8 full-size SUV 

This car has a V8 fuel-powered engine with the worst fuel economy in the history of Toyota cars. The Sequoia in 2014 already had a reputation for being a "big for nothing" car, and when owners get tired and want to resell the car, nobody buys.

Interior-of-the-Toyota-Sequoia

Interior of the Toyota Sequoia 

People don't want to buy a used V8 engine powered car because of the high cost of maintenance. You can get this full-size car for as low as ₦600,000. While the Land Cruiser Prado maintains a price tag of over ₦5,000,000 at the second-hand sale. 

7. Kia Optima (2010-2015)

The Kia Optima, since the 2010 model, has been a mid-sized sedan that can compete with every top of the line sedan in its class. It is also always set at price tags way below its rivals for a brand new purchase.

A-2015-KIA-Optima-Saloon-car

2015 KIA Optima

You could get a brand new Kia Optima in 2018 for 9,600,000 while its Camry and Accord counterpart would start at about 14,000,000. However, the Optima has a very bad resale value because of its high maintenance cost.

Replacement parts of the Kia Optima are very high and it makes it a very bad second-hand car to purchase. People sell their 9,600,000 Optima for less than 2,000,000 after using for barely one year.

8. Nissan Altima V6 (2002-2012) 

The third and fourth generation of the Nissan Altima produced between 2002 and 2013 face a lot of rejection from Nigerian car buyers when they carry a V6 engine. These V6 engines tend to consume more fuel than expected from a regular sedan for daily driving.

Nissan-Altima-for-sale-in-Lagos

A 4 cylinder VS 6 cylinder Altima of different year models

This also applies to most Japanese sedans with a V6 engine like a Camry/Avalon. The Altima with a V6 engine could be bought Tokunbo at 2.000.000 and resold at barely 600,000 after just months because it is very low in demand.

9. Peugeot Cars

Peugeot lost its position as Nigeria's go-to car brand in the final years of the 1990s along with other car brands like Opel, Renault, etc because they didn't evolve their designs and practicality in a manner good enough for Nigerians (Read this to understand why)

A-Peugeot-301-Saloon-car-in-Nigeria

Peugeot has made a come back in the past 5 years with new models like the 3008 SUV, 308 sedans, and a couple of others but these cars have a very bad resale value. The Peugeot cars Nigerians buy as Tokunbo are the sporty coupes like the 307 cc Coupe.

A-Peugeot-307-CC-Sports-Coupe

A Peugeot 307 CC Sports Coupe

All Peugeot sedans and SUVs are widely available as brand new in Nigeria for now. 

10. Strange car brands

Strange cars are new car brands in Nigeria. These brands haven't earned any credibility as a car worth buying as second hand. I fear that these brands will never earn that credibility because most are Chinese cars that have a reputation of being lower quality copied versions of popular car models or knockoffs. 

Jac-Gac-Donfeng-cars-in-Nigeria

Some new car brands in Nigeria

Brands like JAC, GAC, DONGFENG, and SSYANYONG are perfect examples of cars like this.

Recap

The table of the lists of cars with the bad resale value in Nigeria will end our article today:

Lists of cars with the worst resale values in Nigeria
N/O  Car Model years
 1  BMW 5 Series 2003 - 2010
 2  Ford Taurus 2010 - 2015
 3  Supercars in general ''
 4  Innoson Cars ''
 5  Mercedes-Benz R Class 2006 - 2013
 6  Toyota Sequoia 2000 - 2007
 7  Kia Optima 2010 - 2015
 8  Nissan Altima V6 2002 - 2012
 9  Peugeot Cars ''
 10  Strange car brands ''

>>>Check our car buying & selling section daily for more reports like this on Naijauto.com.

234DRIVE x NAIJAUTO.COM

234DRIVE x NAIJAUTO.COM

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Crank - the head of content for 234DRIVE is a mechanic/car enthusiast/car vlogger that writes and creates relatable motoring experiences. Whenever he lays his hands on any car, he reviews them in depth. He calls himself the 'Educative Car Guy'.

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