As soaring import costs and a weakened naira push foreign-used cars out of reach, more Nigerians are turning to locally-used vehicles, triggering a sharp 22% increase in vehicle inspection requests in Q1 2025, according to a new report by Cars45.
The vehicle inspection and auto valuation company noted that the jump in inspections reflects a major behavioural shift in car buying habits, as more Nigerians treat second-hand car purchases as long-term investments, not rushed decisions.
โWith the market the way it is, every car should be treated like a potential investment,โ said Damilola Ojurongbe, Head of Technical Services at Cars45. โYou wouldnโt buy land without a surveyโwhy buy a car without an inspection?โ
FX volatility drives local shift
The depreciation of the naira, down 3% against the dollar between January and March 2025โhas compounded inflation and slashed access to imported vehicles, commonly known as Tokunbo. Figures from the National Bureau of Statistics (NBS) reveal a 65% year-on-year drop in foreign-used car imports.
This shortage has inflated local used car prices and exposed unsuspecting buyers to a flood of damaged or tampered vehicles sold at premium prices.
Buyers, once comfortable relying on visual checks or quick test drives, are now demanding more comprehensive inspections. Cars45 reports that requests now routinely include flood damage assessments, body panel reviews, accident history checks, and engine diagnostics, even for budget vehicles.
Information becomes a buyerโs best defense
The rise in digital scams has also contributed to the trend. As platforms like Jiji and Cars45 expand, buyers are seeking verified inspection data as protection against seller misrepresentation.
โThereโs a visible shift from urgency to diligence,โ Ojurongbe added. โPeople want to know what theyโre really paying for; and in todayโs market, information is the most valuable asset.โ
Auto industry observers say the trend could reshape Nigeriaโs used vehicle ecosystem. A study on ResearchGate.net estimates that 85% of cars imported into Nigeria are used vehicles, a figure echoed by local dealerships. But with imports plummeting, local supply is tighteningโheightening the need for trust and transparency in transactions.
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