Import and Export-Wealth32 Comments

If you are in the United States of America or Canada and looking for a good and harmless business you can start back home in Nigeria, buying and selling of used cars should be on top of your list. There will always be opportunity in car business in Nigeria for many good reasons:-

1. Nigeria is and will always be a big market for cars, both used and new ones. I mean what do you expect in a nation of over one hundred and sixty million people with almost everyone working hard towards owning his/her own car one day. Those who already have are equally working to get additional new ones or change the ones they are currently using. Car business should be a top business in any country like Nigeria who are not manufacturing their own cars.

SEE ALSO: How To Import Cars From USA To Nigeria

Nigerians like cars a lot as most people sees having a car as status symbol, everyone wants to cruise no matter how poor he is. Car is always on top of the list of every family’s purchase priority. It is always a dream come true when one is able to acquire his own car for the first time. Status will change immediately, Family and friends will start respecting you the more, that is why everyone is working towards having one. These factors has made car business a lucrative one.

2. With the ongoing banning of okada in most states of the federation, even those without the means are being forced to find the means of getting their own cars. It is no longer an option but necessity except you want to be left out in the cold.

3. Transporters are becoming more and more greedy in places like Lagos, purposely hiking the transport fares and making public transportation a nightmare. Therefore, having your own car have become more cost effective than taking public transport. And who likes standing on the bus stop all day waiting for buses is stead of getting to where he is going?

SEE ALSO: How To Make More Profit In Your Transportation Business

4. The profit margin in car business is very good too. I can tell you for free that dealers are making good money in this business though, they always claim of not making enough profit but that is contrary to the truth on ground. Believe me, there is reasonable profit in used cars importation business in Nigeria.

This Is How The Importation Works

1. Let’s say you are buying a 2009 Toyota Camry Hybrid full options, you will get good one with low mileage from places like Maryland for between $5,000 – $8,000.

2. Then you pay the auction fee of $300. Auction fee may be more or less depending on the auctioneers. Find out more about this!

3. When the deal is closed, you have it towed to the closest port – Baltimore is closer to Maryland, you tow it to Baltimore for onward shipment to Nigeria.

4. Shipping cost to Nigeria stands at about $1,200 or less, just around that amount. But find out the exact it costs now as market changes from time to time.

5. Clearing and Courier Bill of Lading to Lagos stands around N250,000

Therefore, the total cost that will land the Toyota Camry 2009 model leather seat to Nigeria are as below:

Buying from the USA and shipment to Nigeria cost = $6,000.

Nigeria Clearing stands at = N250,000.

That will put the final price of the car to $6,000 x N260 = N1,560,000 + N250,000 clearing = N1,810,000.

Market: Search used cars to buy on Yahoo Autos there you will find good number of used cars at perfect prices. You can as well search on eBay Auction and other Car buying and Selling websites.

Selling In Nigeria And Your Profit

I have gone round the market and the final cost of getting such a clean Toyota Camry with leather seat and low mileage (under 50,000 mile) anywhere is Nigeria is N2,000,000. Some sell as high as N2,200,000

Therefore, your profit for the car will be from N190,000 to as much as N400,000 depending on how much you finally sell it.

Toyota Camry is one of the fastest selling cars in Nigeria due to it’s efficient fuel consumption. It moves so much that you can sell the car within weeks of landing it, though it may stay for months sometimes but when you finally sell, you are sure of minimum profit of N200,000.

SEE ALSO: How To Import Cheap And Quality Goods From China

For Nigerians oversea, this is one of the smartest way of transferring your money back home instead of direct money transfer that may cost you some charges and put you in danger of money laundering in both ends.

Use the money you wants to send back home to buy cars and ship to Nigeria, have a trusted person sell it for you and deposit the money into your bank account! In doing this, you will even see yourself in another line of business completely and another stream of income entirely.

For aspiring dealers in Nigeria, car business is a great business for you. You can start small with one or two cars and gradually expand into having your own car mart.

Note: Prices (buying, shipping, and clearing) are not the same. Sometimes you get it cheaper, sometimes you get it higher. Your final sells depend on how much you get your car.

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32 Comments

  • Anonymous August 29, 2013

    i have 800 thousand naira as personal savings. watz ur advice should i buy a car with it or look forward to using the money for business? i intend to start a nursery school biz but the money does not seem enof. watz ur advice pls as there is pressure to own a car of ma own.

    Reply

    • Darlinton Omeh August 29, 2013

      Except you want to use the car for business, I don't think it's wise to buy car with the N800 just for luxury. Use it to start the nursery and primary on a small scale, you can rent a place and start small. Everyone will buy car at later time.

      Reply

  • Anonymous September 16, 2013

    Is buying tokunbo cars from Cotonou to sell in a place like Ibadan profitable. Pls help me analyse how i can make money in this business without buying from Europe/America to sell in Nigeria. I will really appreciate your view.

    Reply

    • Darlinton Omeh September 16, 2013

      Yes, Tokunbo cars from Cotonou are very cheap compare to Nigeria. But bringing it in is the difficult part. In most cases, you'd have to be a smuggler to be able to do that.

      There are people who specializes in helping people bring cars from Cotonou to Nigeria but I wouldn't encourage you to patronize them, it is almost the same as patronizing criminals and it's extremely dangerous with the possibility of loosing your car in the process.

      The reason why cars are very costly in Nigeria is Nigerian Government. Here is the only country you clear a car with almost the same amount you bought it. A friend cleared a Range Rover 2008 for N2 million when he actually bough the car for N5 million. You can imagine the absurdity? So, coming from Cotonou and coming from the USA is almost the same thing because your government and it's agencies will always make it difficult no matter where you are coming from.

      Reply

  • Anonymous September 26, 2013

    Hi author, I have been going through your pages and I am really impressed at the amount of research you have taken and the extensive amount of information you are giving out is extremely commendable. Now talking about the car business , I think there are a number of disadvantages too and these prospective dealers should be aware of what they are going into. It is a good idea if you as a prospective dealer build a customer base for a start so that you already have a buyer before you even start your process. And I do business in ghana and nigeria and I think ghana has the most ridiculous custom clearing fees in the world. These same camry 09 in nigeria would go for ghc9000 that's approximately =N=900,000 for clearing(duty fees) alone.

    Reply

    • Darlinton Omeh September 26, 2013

      N900,000 for Toyota Camry? That's very ridiculous. I think the idea you proposed is very good and some people does it really, some even get money from their customers to buy and ship to them.

      Reply

  • Anonymous October 15, 2013

    Hi omen i ll need your contact

    Reply

  • francis March 1, 2014

    Please omeh I have observed the answers you have been giving and its encouraging.if someone has about two million and wants to import say Camry 2000model like two,please how will the person go about it been that he is a novice in this field.

    Reply

  • Anonymous March 10, 2014

    is there any trusted way for anyone who is not in the US, say Nigeria buy cars from the US maybe by proxy pay?
    Can one buy from the US with mastercard while in Nigeria? any of that trusted car website?

    Reply

  • Anonymous May 4, 2014

    My Name Is Mrs. Gracie I Buy And Sell Cars In All Type Of Brand At Low Cost Rate Any Interested Buy Who Wants To Buy A Car Should Contact Me With My Facebook User Name:gracie Lumor

    Reply

  • Anonymous June 29, 2014

    How much do I need to have to clear toyota camry 1998 from U.S

    Reply

  • israelingo July 7, 2014

    Is it true that the govt has increase custom duty by July 1st? How much does it cost to clear a 2005 camry

    Reply

  • francis July 20, 2014

    @isreal to clear a 2005camry will cost you presently about 400 to 450k

    Reply

  • francis July 20, 2014

    Yea the government has increased its tariff.

    Reply

  • francis July 20, 2014

    Darlington just to sincerely say thank you for your enlightenment. You write up on importation of cars triggers me into action and I have imported a sienna 1999 model for the first time in my life.though I sold it and made about 150k I later realised the agent killed me because am just new in the viz and he collected 300k to clear the car.am expecting another sienna 2001 but I have learnt my lessons.thanks for your encouragement.my name is ukwueze Francis Ejike and I live in abuja.God bless you

    Reply

    • Darlinton Omeh July 20, 2014

      Oh, this is very heart warming. Thank you Francis for letting us know and doing it publicly. I can assure you that this is the beginning of your greatness in the business, you've just acquired the needed experience by that first transaction and as your experience grows so shall your profit. God bless you too!

      Reply

  • Ambrose Prince July 27, 2014

    Hey, My name is Ambrose I based in Canada (new here though) I actually want to get into cars shipping business I have been searching for an idea on how to start it but nothing good has come out of my search until I read your article that I find interesting. I really need help from anyone that can advise me on what it takes to start this business. like where to buy the cars, the right shipping channels, the right shipping agents and the right clearing agents in Nigeria. Every advise is welcome.

    Thanks.

    Reply

  • Ambrose Prince July 27, 2014

    Hey, My name is Ambrose I based in Canada (new here though) I actually want to get into cars shipping business I have been searching for an idea on how to start it but nothing good has come out of my search until I read your article that I find interesting. I really need help from anyone that can advise me on what it takes to start this business. like where to buy the cars, the right shipping channels, the right shipping agents and the right clearing agent in Nigeria. Every advise is welcome.

    Thanks.

    Reply

  • rick perry August 2, 2014

    Hi, my name is Roger Francis and I buy and sell cars and ship from Fortlauderdale Florida. I currently ship to Nassau, London, Africa and Jamaica and can find you whatever Clean Vehicle with low miles your looking for. You can contact me on Facebook as english600 or on Skype with the same name, once contacted I will have you photos within 24 hours.

    Reply

    • kingsolomon March 21, 2017

      Good day Roger,

      It is interesting to find you here. I also notice you reside beside Miami, the city i grew up at even though i am now in Lagos -Nigeria

      I am interested in importing toyota camry ranging from 2008 to 2012 with full options.

      Kindly respond and advise the way we can work together.

      My name is Dr Wilson Christson

      Reply

  • rick perry August 2, 2014

    Hi, my name is Roger and I am a car Dealer based in Fortlauderdale FL
    I can get you any Clean Car or Truck of your choice with low milage. Once contacted I can have photos and prices to you within 24 hours. You can find me on Facebook as english600 or on Skype with the same name at which time we can video chat so you can see who you are dealing with!

    Reply

  • Anonymous September 14, 2014

    How much does it cost to clear infinity fx35 2010 model? Please can anyone help me!!!!

    Reply

  • Anthony D. October 1, 2014

    That's something worthy if people looking out for buying or selling a car in Nigeria. Even people who tend to start business in buying and selling of cars need to go through this article. Thanks for the share.

    Reply

  • Anonymous November 26, 2014

    Hi, I'm moving back to Naija from Uk, how much is it to clear a Renault megane 2010 please? I know I would have the steering wheel changed, do you have an idea how much that costs also? Just want to weigh up if it's worth going through the trouble.

    Reply

  • Anonymous December 18, 2015

    Please, kindly advise on buying cars from the Nigeria customs on auction and promotional sales… Is it okay to do that or they are scammers that post that stuff online? Please i need you to put me through.
    Await your response ASAP.

    Compliments of the season,

    Reply

    • Darlinton Omeh December 18, 2015

      Nigeria Custom is not selling cars and goods, those stuffs you see being posted online on some blogs and website comments and on Facebook are being posted by 419 scam guys. Keep your wallet pls.

      Reply

  • david May 8, 2016

    hi Darlinton
    its so kind of you to share information I own my Toyota Camry 2009 80.000 miles I wanna sell it to Nigeria could you help me to find a customer for percent

    Thank you
    David

    Reply

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