Strategies for buying car: how to save most money

By Chris Odogwu
Publish on June 12, 2019

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Buying a brand new car of your choice may not be within your budget. Rather than give up, you can try these other ways to get a car at a reduced cost!

Owning a car in Nigeria is far from being a luxury. Matter of fact, it’s a necessity. If you don’t have a car, you are faced with two additional problems in your life: walking in the hot sun and jumping commercial buses. And since a commercial bus isn’t your private car, asking for comfort is a tall order. You have to ‘manage’ like everyone else.

So, you are tired of the above scenarios, and want to get a car for yourself. But unfortunately, the price of a tear-rubber car is out of your budget. Don’t give up. You can still get a decent car within your budget. Naijauto is here to show you best strategies in buying car in Nigeria:

1. Get an outgoing model

A car begins to lose market value the moment it’s purchased. This is very similar to other technological innovations. A brand new version of the car you want may be out of your financial powers, but an outgoing model may not be too far from it.

Do your research about the outgoing car model, and confirm that it has all the features you need. If it doesn’t look so brand new, don’t worry, a simple facelift will do the magic. You get to save some money and drive the same car model.

buying-new-car

If you want latest models, don't ever think of saving money!

2. Buy by month end

Car dealers often have targets. They are required to sell a certain number of cars every month. They cannot conclude on the state of the market until the month is coming to an end. A dealer who hasn’t met his targets for the month will be eager to makes sales. As a result of this, such a dealer will offer buyers good discounts. Don’t be in a hurry to get the car. Wait for a few more days or weeks for month end to enjoy this benefit.

>>> These tips may be your saviour: How & where to buy cheap cars in Nigeria (plus 2019 updated cheap car list)

3. Consider getting a pre-registered car

Dealers devise various strategies to meet their sales target at the end of the month. One of these ways is that, they buy cars that are yet to be sold, and register the car in their name. A customer who buys the car becomes the second owner of the car.

Bear it in mind that this will have an impact on the car price if you decide to resale it in the future as it’ll have multiple previous owners. In addition to this, you also lose some part of your warranty because it started counting the moment the dealer registered the car in his name.

If you don’t mind putting up with these little inconveniences, you can find a clean car at a price far lower than its brand new counterpart.

4. Be flexible

Obviously, you want to get a good deal. As a result of this, you might have a long list of things you want your dream car to have. It’s okay to have standards. But you need to understand that, unless you are buying a brand new car, you may not find one that ticks off every item on your bucket list. For instance, passing off the opportunity to buy a sound car because it doesn’t have your favorite isn’t a good decision. If you are so passionate about a particular color, you can have the car repainted later.

Nigerian-family-in-car

Be flexible based on your budget and essential needs!

5. Wait for auctions

Cars are auctioned from time to time by institutions such as the Nigeria Customs Service. Good cars are put up for sale at prices lower than their actual prices in the market. Exercising patience for the next auction will help you save a lot of money.

>>> You can refer here: How to buy auction cars in Nigeria from Nigeria Customs Service

6. Swap your current car

If you happen to already own a car, and want to get a new one, swapping is a good option to save money. Since you are offering the dealer your own car, you can top up the cost price of the one you are interested in buying.

people-swapping-car-key

You can swap your car with a different one to save cost

Don’t be in a hurry to sell to the first dealer that indicates interest. Ask other dealers, and pick the best deal.

>>> Equip yourself with more car buying tips from Naijauto experts before visiting any dealer!

Chris Odogwu

Chris Odogwu is a freelance Content Writer and Journalist. He holds a bachelor's degree in Mass Communication from University of Jos and a master's degree in Mass Communication (Public Relations and Advertising major) from University of Lagos. His works have been published in top local and international publications including Forbes, HuffPost, ThriveGlobal, TheNextScoop and Nigeria360 among others. A member of the Nigerian Institute of Public Relations (NIPR), the thrill he gets from writing about exotic cars feels almost the same as riding in them. Connect with him on LinkedIn (Chris Odogwu), Twitter & Instagram (Chris_Odogwu).

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