|How to start selling Nigerian Used And Tokunbo Cars online business|
Car dealing or car selling has always been a lucrative business in Nigeria, I remember when I was much younger, Whenever I Mentioned my father was a car dealer, everyone goes ” Then you guys must be rich” . This may be true or not , depending on how many sales he has made during the year. However car selling is profitable if one can consider that the likes of Elizade, Innoson, Ineh Mic, and Jola Ade are still in the business of selling cars after many years in operation. Armed with the right information and knowledge, you can easily become a millionaire selling Second hand cars (Nigerian used or foreign used).
Also, many car companies are opening up in Nigeria, building plants, providing maintenance factories and car warehouses. Most Online sites also attest to the fact that their largest page views has to deal with cars and technology.
What you need to get started?
1. Capital/ Funding: You do not necessarily need lots of money to start the car business . Sure, if you want to import cars, you need money to source and buy the cars, pay shipping costs, import, clearing and forwarding duties and find where to park the cars. However, the world is now a global village, you can seek an alternative means of selling you cars online, it will get to a point of trust that clients will pay you upfront, thereby providing the needed capital to bring in cars.
2. Where to sell: Physical location is fast becoming a fad, I use online selling sites such as Olx, Jiji, Efritin to sell my cars, Nairaland ,my blog and Facebook wall are also avenues to talk in depth about the attributes of the cars, allow my potential customers to have a more personal relationship with me, whereby they can ask require for more knowledge concerning the cars of their choice. Most of the cars I have sold are sold online, the customer only sees the car at the point of inspection and taking delivery of the car.
See posts from my Facebook wall on cars That I advertised and sold.
3. Knowledge and Know how:Knowing about cars is not a one day job, it is a gradual process that some learn as they encounter new situations or learn from other professional car dealers. But it doesn’t hurt to know about the specifications (specs)( of a car you are selling; The model, year, transmission, mileage, type of fuel, engine, car capacity, how many times it has been repainted (first or second body), cooling system, all these knowledge will better equip you to deal with the client and be able to answer questions as truthfully as you can.
4. Information consistency: Knowing where to put the information is a right step in the right direction, however being consistent will also go a long way to help. Post and Advertise on the right platforms, renew ads, keep reverberating in peoples’ consciousness. Some cars are harder to sell than others, but every car is built for a particular client and it is just a matter of time, you will get the right buyer for a car you choose to sell. Be active on your social media, use it to your best advantage, do not bombard people’s wall , there is a right way of selling , and you need to learn it. Do not be seen as a aggressor or a pest that plasters car posts on groups, friends walls and comments under people’s posts.
Have the pictures of the car you want to sell, the front and back view, car seats, inside of the car, engine, tyres to capture the current state of the car. You should request the pictures form the car owner or better still, go take them yourself to be sure of the quality of the pictures. No blurred or partial images.
Clients will bu based on the images of the car they see. Visualization unlocks the imagination.
5. Source for cars:
You can ask fiends, relatives, colleagues, car dealers, car importers and family members to allow you sell their cars on their behalf and you get a percentage of profits. The first deal is the most important, once achieved and completed successfully, other transactions will follow.
A word of advice:
If you are an imported considering buying cars and importing them into the country, first ask around or survey the environment for type of cars that sell faster and on time to, built for Nigerian roads, fuel efficient, easy to obtain their spare parts and has a low maintenance rate.
How I started selling cars (My personal experience)
My dad is a Motor dealer, one of the executives of the Oyo state association, I have always been skeptical about the business, because in my own naive opinion , I believed it consists of a lots of risk, tying down capital and not a consistent source of income, you can sell a car today and not sell any for the next six months.
Recently, A friend needed to travel out to relocate and was seeking for funds to buy his travel ticket, he approached me to help me sell off his most prized possession, which happen to be his car and get a good price for it. Within hours on posting on my Facebook , the car was sold. I had series of calls from friends indicating interest, many were disappointed when I told them the car has been sold, others encouraged me to look out for more cars as they could testify to my integrity asnd also liked the fact that the car price was moderate.
So in a spate of weeks, I started receiving pictures of cars from friends who wnate to sell their cars due to a upgrade or for personal reasons. And in one month, I helped friends sell a Nissan Exterra Jeep, Volkswagen Jeep, Toyota Sequoia Suv, and Toyota Primera .
What helped me sell 5 cars within weeks?
1. Integrity: People believed in me ,the seller and were willing to make financial transactions, commit their money because they believe hey were not dealing with a fraud or a dupe.
2. There was a demand and the product being sold met their expectations.
3. The price was right.
4. Nigerian borders have been closed for a while now, so those looking for cars looked inward to get their choices.
5. The increasing costs of import duties has made Tokunbo and new cars a bit expensive, Clean, Fairly used Nigerian cars were the new deal.
6. Alternate source of income: Cars are no longer used for personal use alone, People are buying cars to be used in the transport business and for Uber rides, thereby causing a surge in the rate of cars being sold daily.
There can be some downsides to car selling in Nigeria, based on my personal experience, they include:
1. Inability to make sales fast: Customers will call, infact out of every ten calls I receive, Only three are serious, ready, willing to act fast and have the financial means to purchase a car. Although I have been lucky to sell out cars within hours or days of putting them up. Not selling a car out rightly within days is not so often for lack of effort but for lack of consistency.
2. Wasted effort: Some clients can send one on a wild goose chase, I remember when a friend asked to buy a Toyota Camry Light eyes, I scoured the whole of Lagos and online too, but he rejoiced every car found due to one flimsy excuse or another, the price is high, there is a scratch, it is tiny light, not pencil light and two months after, my friend is still looking for the perfect Toyota Camry.
Another client made a deposit and asked his brother to come and pick up the car, all was good, except the brother decided that the car was too big for Uber Use. Hours of calls and transaction dealing just went Poof. These are samples of experiences one may likely experience as a car seller/ dealer , but they will only coach you and build your confidence on how to become a successful car seller , as I eventually learnt.
How car business has improved my life:
1. Better relationships: Now I can boast of friends and business contacts necessary to keep my car business alive. Customs officers, clearing agents, Uber ride owners, Car importers, Car dealers in other states, and other entrepreneurs who help me promote my market by sharing my car for sale posts with their other contacts.
2. Better prospects : The potential car buyers are also potential clients for my other businesses (event planning and management), once they see my car for sale posts, they do not have a any other choice but to see other related posts to my other line of business.
3. Financial gain: This is a so obvious point, I charge percentages on car sold depending on the type of car, cost, and how much the buyer is willing to pay. I do not believe in holding on to cars as long as possible in hope of making better money, I have sold a car and within an hour I got a better offer for it, but Eh, it was a lucky day for the new owner.
5 steps to selling your car online
1. Upload pictures on your social media and online selling platforms.
2. Describe the car in detail and provide a contact information.
3. Wait for the calls to come in and initiate contact.
4. Go for inspection of the car with the potential buyer, once satisfied, initiate payment process and handing over to the new owner.
5. Be as professional and efficient as possible throughout the transaction. Thank the new owner and mention to them to always refer you when another opportunity comes up.
Currently, what I am comfortable doing is to act as go between between a car owner and a buyer.
I am not one of those car dealers who charge exorbitant prices so as to make huge profits on a car. I do not blame the car dealers, they have to pay parking space rents, hire labor to wash and maintain cars, pay rents for office space, settle official and non official associations or individuals who come calling at their doorsteps.
I prefer to connect the buyer directly to the owner, dealer or whoever has a selling right on the car, help make the transaction as completely smooth as I can, change ownership, register licenses, obtain new plate numbers and perfect the paperwork, so next time the customer thinks of buying cars or selling cars, he or she thinks Christina.
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