When it comes to buying a car, it becomes mind tasking and one of the first few questions you will be asking yourself is, ‘Should I buy a new or a used car?’, ’If I get a used car, would it be worth the while?’. Buying a brand new car is definitely the first preferred choice for anyone, but then buying a used car turns out to be a lot cheaper. However, there is where the fear of being left with a car that was badly used before or had been in an accident automatically comes in. But let me share with you a few tips which can help when you’re embarking on your car buying journey.
Buying a used car in Nigeria isn’t as bad and hard as most of us think. This is also a chance for you to bag a bargain and save money in the process, but making an informed decision is not possible without doing your homework first. Equipped with the right amount of information, you can get yourself a pretty good deal on used cars.
These tips will help you achieve that:
Plan & Set Your Budget
Don’t go looking for a car (or anything for that matter) without a budget in mind. You can get your dream car at a third of the budget for the same new car. This will give you a good idea of the vehicles you can afford. As a rule of thumb, you should not spend more than 20 percent of your salary on a used car, especially if you have other financial responsibilities and bills to pay. You also need to decide between taking out a loan to pay for the car or paying in cash. Some people go for the first option in order to purchase a more luxurious model, others take out a loan so they won’t have to dig into their savings. Keep in mind that a used car is probably going to require maintenance and a change of tires, unlike a brand new vehicle, so be prepared to set some money aside for any hidden costs you may encounter down the road.
When you start looking, get an idea of what kind of vehicle you need. If you aren’t uncertain about your choice, think of what you want from the car. For instance, an SUV is a good choice if you have a big family or a Saloon Car if you just a student or a fresher in the employment stratosphere. Check out what a brand new version of the car would cost. Another rule of thumb is to narrow down your car choices to 3 or 4 models when going for a second-hand car. This will give you a bigger range of options to look over.
Do Your Research & Start Looking Out for Car Deals
Start making researches and looking out for your dream car. Don’t ever pump your money into something you’ve not made inquiries about. When you start looking for a used car, there are so many places you can check out. Start with websites selling cars online like Betacar.ng. Ask friends and family if they are selling or know someone who is. Google is your friend, exhaust all you have with google especially with the right keywords. Take advantage of different online pricing guides and use them to calculate the market value of your prospective car. Engaging yourself with knowledge about the model will help you negotiate the right price when the time comes. In addition to the price, the guide must include other features like the engine type, trim level, navigation system and whether the vehicle is a four-wheel-drive or not. Keep an eye out for mileage since the average annual mileage on a car is about 12000 miles. Moreover, check for additional features such as leather seats, backup cameras, and forward-collision warnings, etc. All the above information can help you bargain a good deal.
Get a Checklist & Compare Prices.
If you happen to find a used car that seems to tick all the boxes in terms of model and features, then the next logical step would be to examine it using a checklist. The list will remind you basically about what you want in your car. Inspect everything, from the engine to the tires. Another factor you could consider is the resale value, as there are cars that go for way lesser than the purchase value after a while, while some maintain a fairly good value a little lesser than the initial purchase cost.
One method that has worked for several buyers of used cars in Nigeria is comparing & researching the cost of the brands they have in mind in relation to variables like the degree of damage and the extent of use. Also, some also go as far as deciding if its a Nigerian used car or a foreign used car also known as “Tokunbo” cars. This gives you an idea of what the range of the selling price should be. Foreign used cars are fairly more expensive but of higher quality and durable than Nigerian used vehicles.
Price is a crucial factor when deciding if you will be driving a particular car home or not. In order not to be outdone in the bargaining process, it is best to do your homework before approaching a car dealer. In the business of buying used cars in Nigeria, it is unarguably true that Toyota Camry’s and Corolla’s, Honda Accord, Lexus and Hyundai are buyers’ favourite for used cars. It is best to have more than one brand and model in mind; especially as they relate to your needs and your budget for the car.
You should be careful and avoid running after all the cheap brands you come across because while they may be cheap, the cost of maintenance may be outrageous enough to drive you into financial ruins. For instance, there’s no point in buying a car with an annual maintenance cost of N700,000 while your annual salary is N1million. It definitely isn’t, so it’s much better to compare your maintenance cost also when opting for a car. To make things easy for yourself, you need to define a budget and stick to it in order to be in a safe financial position to cover unexpected repairs. ‘
Book an Appointment, Inspect your Dream Car & Pay
If you like the price and condition of a car, the next step is to go check out the car. Schedule an appointment with the car dealer. Test drive the car to see how it feels if the car dealer allows that. Listen for any weird noises and look out for paint jobs.
Never get too excited when you’re at the car dealer’s shop that you forget to check the nitty-gritty and the most important details.
Final Thoughts on Buying your Dream Car
It is very important you get your dream car from the right car dealer who has excellent expertise in serving his consumers better. Here at Betacar, We ensure we get the best deals for you and every car we sell to you is of the best quality. So why don’t you buy from Betacar today! Visit www.betacar.ng to book your test drive now.
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