How to get maximum retail value out of your car.

In Nigeria, we all know that getting a new car can be a bit of an expensive expenditure. A lot of people would argue that buying a car “especially in Nigeria” is one of the trickiest forms of investment that one can go into… They would cite lots of reasons to support their arguments, like the fact that a cars value depreciates as soon as it leaves the dealership, the fact that even after buying a car, you still have to spend money to maintain it, the fact that cars don’t give back any monetary form of profit “except if you’re in the transport business” and the fact that one accident in a car can either ruin your bank account or take your life in exchange…

While, these are all mostly true, these facts don’t mean that one cannot get any form of profit from his car, indeed one can use a car for over five years, not have to spend a lot on maintenance whilst getting the comfort and utility "unmeasurable forms of utility" desired from the car and still get a very good bargain for the ride afterwards. How? Very simple, by evaluating the reasons he wants the car, the kind of person he is, if he is a brand buyer or if he is out for the best bargain. After these first steps have been carried out…….

The next step would be to make sure you get the right car. You analyze this by asking yourself questions like what you want out of your car, if this is going to be the main cruiser or your back up ride, if you plan on selling the car soon, if you would put the brand of the car first before even considering its contents??. Stuff like that, cos it helps define the kind of buyer you are and helps point the red flags to cars you wouldn’t be considering.   For example, if you are the type that prefers to buy a car because of its brand name rather than what it features, you realize what you want has been staring at you all along, it might not be the best in the segment on the highest on value for money but so what; you are buying with your heart chikena. 

There is however, a disadvantage to this. This is because buying a car solely because it belongs to one particular brand often makes a prospective buyer miss out on the opportunity to actually compare models, see which has more USEFUL features, which is more fun to drive, and which actually give more value for money aftersales.

 Take a Toyota Camry for example. Last time I checked “April this year”, the 2013 Camry had an N8Mill+ starting price and the V6 cost almost N11Mill. Toyota Nigeria priced the car this way primarily because they know we Nigerians love Toyota’s….. And I looked into the features of the Camry, everything was pretty basic. There was a 2.4litre four cylinder engine mated to a six speed automatic transmission. Interior features included air-con, a CD player, power windows, central locking, etc basically there wasn’t anything available on the Camry that you couldn’t get on other cars     “for much less”… Even the new looks of the Camry weren’t dashing enough to warrant that price. Yet, I’m sure Toyota NG would have sold tons of that car by now….. 

Keeping an open mind and just comparing prices, the new 2013 Honda Accord is also available with the same features, a better looking exterior and a N5.8Mill starting price. What gives? And if there is something we all know, it’s that both Toyota and Honda hold their prices very well here.  It gets better; because even for that same N5.8Mill, I know that you can get a new well stocked Ford Fusion or a Volkswagen Passat with a touchscreen interface and parking sensors (usable features that both other cars don’t have). You could even get a full options Kia Optima with flappy paddles, full leather interior and keyless ignition for less than that. And if you’re bent on spending N10Mill+ on a car, whats wrong with an Audi A6… I kid you not, a full options Audi A6 is just over N10Mill and it features soo much more than the V6 Camry… What I’m saying in essence is that when shopping for a new car, usable features should be one of your main concerns rather than the name badge. Read reviews, browse the brochures, check features and major details like fuel economy, engine performance and so on before picking your car, it really helps.

2. After browsing brochures, when you’re sure of the car you want to get, you must then consider price and insurance. I look at it as a stupid thing for anyone to buy a brand new car and not plan to include a comprehensive insurance plan for it. That’s as daft as building a new house and not including furniture. A car is a machine, it is bound to have faults some day, and when it’s a new car, money spent on repairing these faults usually tend to be on the high side, which is why a comprehensive insurance is necessary; plus we know how unsafe Nigeria can be sometimes... I should however highlight that before going for an insurance plan, be sure to take your time to read all the entire document or at least get someone to do it for you, na 9ja we dey, some of these insurance companies can be tricky and include weird clauses that makes insurance a waste of money. “I’m not going to mention names” but I once met an insurance manager at my workplace who queried the cost of repairs for the bumper of a car of one of its clients saying their insurance policy doesn’t cover paint.. like seriously how would you expect aftersales to replace the bumper of a car without repainting it to match the body of the car???…

3. After getting the right comprehensive insurance, the third step is to always use the original dealership aftersales service centre when it comes to servicing and repairing your car. i.e if you buy a Range Rover product, be sure to use their original service representatives here in Nigeria “Coscharis”. Yes, I know this might be on the expensive side, but it’s for the best; especially if you bought the car from them. This is so as not to miss out on the 2/3years warranty that’s given on the car. Even if you didn’t get the car from the original vehicle dealers, at least when the car has faults, thanks to your comprehensive insurance, you’ve got everything covered and you’re sure that original parts are being used to repair your vehicle thus extending the car’s life. I should note that it helps to be close with the service attendants, service managers and even some of the auto-technicians working there, this helps make sure extra attention is giving to your car. I currently work at the Volkswagen service centre and I can tell you with all sincerity that being close to the service managers really helps speed up your vehicle repairs. Be sure to tip them once in a while too.

4. The 4^th step is self inspection and evaluation. Always check your vehicle out whenever you take it for repairs. Just to make sure everything is in place. You should also make it a point of call to always check the basics on your car every other day before taking it out. Things like oil level, water level, brake oil level, fuel level and tire pressure should always be checked before taking the car out. Simple things like these are what cause major breakdowns and faults on cars.

After following all these procedures, be sure to take your car for a spin every once in a while, even parking  car down for long without using it can hamper it's performance..