All you need to know about auction cars in Nigeria and where to get your deal!

11/02/2019

Discover 7 kinds of auction cars in Nigeria and which one is best for you.

While buying a new one may cost us a larger amount of money, why don’t we rely on a business that has been developing incessantly in the past years – buying used cars. It saves you money and more importantly, you can have good cars at good prices if you bear in mind tips to negotiate as well as tips for used vehicle inspections. Of course, trustworthy places for buying and selling used cars must be considered as well. Today, Naijacarnews.com will equipped you with how to buy auction cars in Nigeria. But first, let’s get to know the auto auction and its functions first. Now, just dive in!

a-black-car

We often buy tokunbo cars from auctions but what is the other way?

What is an automobile auction?

Most people entitle auto auctions are for selling used land vehicles only but they have been mistaken. You can get new vehicles here as well, which is the common among auction systems. Many of us might find the idea of car auction new but in fact, it’s quite popular in the world, almost every country has this kind of business for its undeniable perks for its economics and people’s needs.

Speaking of the auto auction, there are 3 names that dominate the used car market. They are Japan, the United States and the United Kingdoms. You can look for used vehicles from other parts of the world, of course. But Naijacarnews.com always recommend you cling to those three. Their reputations have been built throughout the years, hence their reliability is secured.

So the first piece of advice: Choose used car from Japan, the U.S, or the UK and that’s it.

a-car-showroom

Do we have to come to showrooms to find cars?

Where used cars in Nigeria come from?

In the automotive industry, there are two ways used cars can find their new owners. One is dealer auto auctions and the other is the online platforms that provide buying and selling vehicles.

1. Dealer auto auctions- ideal place to have tokunbo cars in Nigeria

It is kind of the traditional way to get your car but you know that anything traditional has its value of reliability that is the people’s belief, however, its weak point is lack of variety that online platforms do really well by connect far-away buyers and sellers through internet.

Another weak point of those auction houses is that the auctioneers only allow specific attendants only. They are the licensed dealers; the general public, otherwise, can book a place. For its strict limitations to a certain group of dealers. The benefits for the attendants are they are privileged to have cars at lower prices compared to ones tagged at any dealership.

a-car-in-the-dark

Dealer auto auctions, unfortunately, are only for the licensed dealers

Vehicles provided by those dealer auto auctions comes from 6 main sources listed below:

  • Off-lease cars

They are cars or any wheeled vehicles that have been returned at the end of a lease contract. Normal terms/contracts lasts between 2-3 years, so off-lease vehicles mostly have exceeded the factory warranty but the mileages are satisfactory.

  • Off-rental cars

It is a need for car rental companies to renew their fleets every year. Those old cars can be found at the dealer auto auctions. Nigerian purchasers don’t care much about late models that will pile up the cost, so off-rental cars seems to be good choices. This kind of tokunbo car is a good investment if you decide to embark on an Uber business or any similar kind in the service industries.

a-white-classic-car

There are 6 main sources of tokubo cars in Nigeria

  • Company cars

A car that is used to carry the employers or employees of a company. Of course. The company car is the reflection of the company and no member of the company wants it to have a filthy look. The company car must be flashy and polished. Therefore, regular maintenance is required. Buying those cars is a good idea, especially for transportation business in Nigeria.

  • Repossessed cars

The cars that have come into the possession of financial institutions for a medley of reasons, mostly for its owner’s failure to fulfill payments or coverage insurance. Some cars are left by its owners eternally after being fined by the police.

a-car-in-the-port

Due to your needs, you will find one of those kinds is best for you

  • Trade-in cars

If you have no wish to keep using your car, you trade it for a better one. Your new one is called a trade-in car. Most of the time, trade-in car buyers have to pay extras and its warranty has been expired. This kind of car purchase is mostly for the private transport purpose only.

  • Salvaged cars

Cars that have been involved in accidents such as getting flood-damaged can be bought by insurance companies. Those companies later sells them to auto shops to fix the problems then resell the cars.

a-wrecked-car

Savaged cars can be a source of foreigned-used cars in Nigeria as well

Note: Buying tokunbo cars needs special techniques and always remember, those specifications like automatic transmission, infotainment display, or vehicle technology can decide the cost of a car.

>>> Know this when buying a Tokunbo: C number verification| Nigeria custom duty verification steps

2. Online auctions

The modern world have helped everything require less labor and quicker handling. The rising business of buying and selling urges technology start-ups to wisely invest their brain in building online platform so that we can enjoy shopping from far away.

Just a click on eBay.com (Online platform for buying and selling all kinds of stocks) and access to eBay Motors, you can get variety of options for your online car buying experience. But the annoyance when buying on eBay is there are too many obstructions. Don’t worry, here in Nigeria, we have other specialized portal for car purchasing. Read on to discover!

Online platforms that help you buy used cars in Nigeria

  • Auction Export- Website: Auctionexport.com

As its name has revealed, this online auction is for car from foreign countries (North America) to get into Nigeria. In fact, Auction Export not only focuses on the Nigerian market, it helps all international buyers to find their deals.

cars-packed-on-the-ship

Auction Export provides the car oceanic shipping as well

Its logistics department handles both in-land and oceanic transportations for delivery. However, some of Auction Export complained that the delivery time is sometimes far wide off the intended date, which the online auction really needs to improve on.

Video: AuctionExport shipping process

  • Copart- Website: Copart.com

Copart is also an international car purchasing platform. It has emerged as a big car auction in Nigeria for the high load of vehicle (it claims more than 100,000 vehicles on the site) and the easy access.

To make your deal on Copart.com, all you need to do register (free), then upload your government-issued Identity card or business licenses.

copart-website

Copart is one of the best auto portal for car buying and selling in Nigeria

  • Jiji- Website: Jiji.ng

Jiji is a Nigerian online platform allowing buyers and sellers to access to the system with no fee. The system praises the security and the ability to solve issue quickly.

Jiji-website

Jiji posts listings of not only cars but also many other stocks

  • Cheki- Website: Cheki.com.ng

Cheki is an online platform for vehicle ads. The website will publish vehicle ads that buyers submit on to the website.

cheki.com.ng-website

Cheki can help you find good cars for sale in Nigeria. You can also find other vehicles as well

  • Naijauto- Website: Naijauto.com

Naijauto.com is a leading portal for auto classified ads in Nigeria. The platform benefits from the top-of-the-art SEO technology and advanced search tools Naijauto applies to it. Up to now there are nearly 40,000 listings on the site while there are hundreds of new listings being uploaded daily.

Naijauto.com-homepage

Naijauto.com is not only an auto portal for car listings but also car information

Like Jiji or Cheki, Naijauto.com acts as a middle agency that help buyers more easily to find their potential customers while customers have more choices when shopping for not only Nigerian-used cars but also tokunbo cars (or foreign-used cars). With more choices of cars, customers can make better decisions and more importantly, don’t have to deal with traditional car salesmen’s tricks.

But Naijauto.com only accepts car listings, any listing not related to cars will not be published on the site.

Bottom lines

You have just read our article on auction cars in Nigeria and where to get them. Naijacarnews.com is glad to nourish our beloved readers with beneficial information about cars. Hope you will apply what’s in the articles to find your perfect companion for the next few years and please stay tuned with Naijacarnews.com for more car buying tips and advice in the coming articles.

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