Some cars have good reselling prices while some have the worst resale values in Nigeria. Knowing this aspect in acquiring a car is crucial because the value of the car has profound impact on the entire cost of owning and operating the vehicle. Only a few people know and consider the future resale value of their selected vehicle when making a car purchase.
Most cars lose their value after five years of ownership and most times this is caused by depreciation. This uncontrollable effect could make it difficult for a vehicle to be resold. In buying a car, the goal should be to buy one not prone to depreciation, to avoid having large losses when you plan to get rid of it.
In Nigeria majority of vehicle buyers, purchase used cars. It will be better for you to know some of these cars that have the worst resale values in Nigerian. Let’s have a look.
BMW 5 Series (2003 – 2010)
The BMW 5 Series E60 is a luxurious simple sedan produced between 2003-2010.
However, the car battery is placed in its trunk for more adequate weight distribution and this scares a lot of Nigerians when they want to buy this car. Because when battery problems arise, the E60 has to be handled with utmost care to avoid any development of complex electrical issues. This causes the vehicle to have a bad resale value in Nigeria.
Ford Taurus (2010 -2015)
The Taurus is a Ford simple sedan from America. Most Nigerians don’t resonate well with the style Americans use to design their sedans. It often has a boxy and rigid shape. However, the sixth-generation Taurus found its way to Nigeria but usually, it is always stalling at car the dealers’ lots.
The car has a complex style. Most Nigerians would ask themselves alot of questions about its efficiency with just looking at it.
Most Ford cars in Nigeria have a insufficient supply of parts making them very pricy. This is a factor contributing to the bad resale value of the Ford Taurus.
Supercars in Nigeria
Most of the supercars that get sold as second-hand cars in Nigeria are often priced by customers at extremely ridiculous amounts.
Owners of supercars in Nigeria pay fortunes to ship in and clear the car with customs, this makes it very hard to resell them because the price value becomes ridiculous to a Nigerian buyer.
Nigerians would most probably want to buy used supercars at the same market price it’s dealt with abroad because their usage in Nigeria would be below average with bad roads and a lack of adequate outlets for the supercars cars.
Innoson cars have bad resale values in Nigeria because the indigenous car brand is still on a level that no one knows its capability.
Most of the Innoson users are government bodies and co-operate organizations that usually buy it for their staff and officials. The brand is not yet verified to go into the Nigerian used car market. This is deplorable because Innoson cars are made in Nigeria.
Mercedes-Benz R Class
This brand of Mercedes Benz is called an MVP, produced between 2006 – 2013. MPV stands for Multi-Purpose Vehicle. That’s why the R-class is a spacious 7 seater car. However, this car lacks the typical luxurious Mercedes look because of its hatchback styling. This causes the R-class to have one of the worst resale values in Nigeria.
Better-performing 7 seater vans include Toyota Sienna and Honda Odyssey which people would buy over the R-class. Using the Mercedes-Benz in Nigeria as a multi-purpose vehicle most likely impossible for Nigerians.
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