Buying a car in Nigeria can be financially draining due to the high cost of purchase and maintenance. One great way to deal with this challenge is to consider the cheapest cars in Nigeria and go for one that fits your budget.
According to financial experts, not more than 10% of your salary should be allotted to car loan payments and 20% on total car maintenance, including petrol, insurance, repairs, and maintenance.
Since you know your monthly income, whether self-employed or working in an organisation, you can finally answer the question, “What automobile can I afford?” by setting a reasonable goal price.
So, if you are a Nigerian looking for the cheapest cars to acquire this year, here is a list of cost-effective vehicles in Nigeria.
Toyota brand is a well-known automobile in Nigeria, and due to its popularity and easy maintenance, Nigerians have different nicknames for its models. Depending on the model you prefer, you can get a second-hand, reliable, and efficient Toyota Corolla for one million nairas or lesser. The 1992 – 1995 Toyota Camry model, which is the most affordable in the series, can be acquired within N500,000 – N700,000
Volkswagen Golf 3 & 4
This is one of the cheapest cars in Nigeria. The brand is known for its affordable and long-lasting strength for long journeys. Due to its easy maintenance, it was popular among the elite class of Nigeria in the 1990s. The average price of the Volkswagen Golf 3 is between ₦350,000 and ₦700,000 and Golf 4 is from ₦500,000 to ₦800,000.
Mercedes Benz C200
Mercedes Benz is another inexpensive car you can buy in Nigeria for less than a million naira. Its recent models are luxury cars such as the sleek C200, which is very affordable. Due to its luxury style, people believe that it is expensive. But, you can get one for N850,000 and above. This brand has also made a name globally and is referred to as the king of automobiles.
The Honda CR-V is a Japanese Car series known for its fuel management, small but spacious interior that is easy to clean and built-in safety measures. It is also known as a family size car. In Nigeria, a decent operating second-hand Honda CR-V is between N800,000 and N2,100,000.
When it comes to the pot-hole riddled Nigerian roads, Toyota Corolla 2001 and Toyota Camry are the cars of choice. Apart from being cheap, this brand hardly develops mechanical issues such as oil leakage brake failure, among others.
In Nigeria, a used Toyota Corolla can be purchased for N600,000, while a Toyota Corolla 2005 model can be bought for N850,000 – N1,200,000.
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