What Makes Cars So Expensive In Lagos?

Rather than Lagos being a place where the price of cars will be favorable to the budget, it has become the opposite.

There are reasons for that, and that’s what we’ll be focusing on today.

We will check certain factors that make cars very expensive in this megalopolis of Nigeria.

What Are Cars Very Costly In Lagos?

There is no question that Lagos is once the capital of Nigeria has welcomed many rich individuals.

Hence, it has skyrocketed the cost of living which makes the state to be as expensive as life in Moscow.

As expensive it will be staying in Lagos, so will you find it expensive to buy a car, even though the region is closer to the Benin Republic, where most Nigerian cars are imported.

Reasons Why Car is Expensive in Lagos

You must know that not all cars are expensive in Lagos, there are some brands of cars that are somewhat affordable, especially foreign used cars (tokunbo).

Meanwhile, some of the reasons why cars are typically expensive in Lagos include wealthy individuals, many car enthusiasts, a high level of patronage, and so on.

  • Wealthy Individuals

As noted above, this megalopolis in Nigeria is home to rich businessmen, politicians, and other senior officials. These are the category of people who can afford any type of vehicle of their choice at any period.

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There are several Lagosians who can afford and maintain exotic cars such as Rolls-Royce, Lamborghini, Ferrari, and so forth in the current economic situation.

This is to tell you the extent to which some individuals are financially balanced in the state. Consequently, it has had an impact on the price of vehicles in Lagos relative to other regions.

Most car dealers in the state of Lagos take anyone to be financially dynamic. They forgot that in the same city, there are people from the middle class and the lower class who cannot afford to buy certain makes of cars.

  • Plenty of Car Enthusiasts

It is not a foregone conclusion that most adults in Nigeria want to own a car of their choice. But the case is so much greater in Lagos, compared with other parts of the country.

Perhaps it is due to their exposure to a luxurious lifestyle.

That’s why when a young adult smells small cash, the next thing is to think about owning a car.

Unsurprisingly, there was a series of stories in which SARS investigated many Lagosians regarding car ownership.

It is in Lagos that you will see people using cars for two weeks, then putting them up for auction and purchasing new ones. For Lagos to have such a class of people, certainly the cost of buying a car will go up.

  • High Level of Patronage

There is a great deal of favoritism for cars, looking at the mass population in the state, although, most nationals from other parts of the country look to Lagos to purchase cars and other goods.

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This situation has increased the percentage of patronage. As a result, Lagos car dealerships have added more money to their cars.

There are a couple of factors that increase the level of auto favoritism, not only in Lagos but across the country. Among those factors are comfort and freedom, urgency, protection, security, time, and so on.

Let us look at a few of these factors briefly.

  • Flexibility and Comfort

Whenever you enter public transport, you automatically lose your independence and freedom, especially Lagos public transport.

This is why most citizens do not want to rely on public buses as their sound mode of transport. If you are the owner of a car, you can be sure of maximum liberty and comfort.

It is your responsibility to decide how you want to drive and where you want to go.

  • Emergency

One of the best ways to deal with emergencies is to own your vehicle, particularly for health emergencies.

Also, you can meet up for an appointment or work at the designated time.

Taking a cap in emergencies may be risky and time-consuming

There is a lot to be said about the factors that may motivate someone to buy a car. Perhaps in our subsequent discussion, we will take a close look at those factors.

A Few Expensive Cars in Lagos

Let’s take a look at a few expensive vehicles in the state of Lagos. This will give you an index of the prices of a car in this city.

  • Audi R8, worth about $162,000 (₦32.4 million).
  • Lamborghini Huracan is worth $199,800 (₦39.7 million).
  • Ferrari California is worth $202,723 (₦40.3 million).
  • Mercedes-Benz SLS AMG worth $221,580 (₦44 million).
  • Bentley Mulsanne is worth $301,700 (₦60.4 million).
  • Rolls –Royce Wraith worth $304,350 (₦60.5 million).
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Where Can I Purchase a Car in Lagos?

Now that you know some reasons why cars are rather pricey in Lagos and a few expensive cars, it will be important you know a few places you can purchase a car in Lagos.

At least it will help you locate a nearby car stand.

  • Coscharis Group

You can purchase your favorite brand of cars such as Ford, Land Rover, and BMW with this distributor.

They are also in the import and distribution of genuine Japanese automotive spare parts such as ball and roller bearings.

  • Lanre Shittu Motors

It is another renowned car and parts dealer, not only in Lagos but across the country. You can select the car of your choice from some brands like Nissan, Kia, Yutong, Mack, etc.

You can order a new car with this dealer.

  • Toyota Nigeria Limited

For those that love riding in Toyota cars, you can contact this dealership for your Toyota Corolla, Camry, Yaris, SUV, Prado, and so on.

They also handle genuine replacement parts and they can also provide maintenance and services.

We have more car dealers in Lagos besides the ones mentioned above. However, time will not allow us to deal with them all.

Of everything we have discussed so far, you may have seen some reasons that make cars very expensive in this wonderful city. If you don’t know, Lagos State is home to the most expensive car in the world.

Nevertheless, whenever you want to get a car of your choice, you can visit any of the aforementioned car dealerships.

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