J
Does the color affect the resale value if I want to sell a 2008 red toyota camry in Lagos?
I have a clean tokunbo 2008 red toyota camry that I want to put up for sale. A local car dealer told me that the color red makes the car significantly harder to sell in Nigeria compared to black silver or gold and offered me a much lower price. Is this actually true in the Nigerian used car market? Does a bright sports color genuinely depreciate the value of a family sedan and how much should I realistically sell it for?
0 Answers
Community Answers
5 ResponsesCan you help answer this?
You must be logged in to participate in the discussion.
Log in to Replyjosh
3 days agoThe car dealer is actually telling you the truth about the 2008 red toyota camry but they are likely exaggerating the depreciation to secure a massive profit. In the Nigerian used car market resale value is heavily dictated by color psychology. Silver black and gold are considered "executive" and "safe" colors. They blend in and hide dust. Bright red on a family sedan like a Camry is seen as too flashy feminine or difficult to maintain. Because the pool of buyers looking for a bright red Camry is much smaller dealers know it will sit in their lot longer. Consequently they will offer you about 300,000 to 500,000 Naira less than they would for a silver unit in the exact same condition.
josh
3 days agoHowever do not let the dealer rip you off on your 2008 red toyota camry. While dealers avoid red direct end users often love it. If your car is a clean tokunbo unit with a perfect engine and zero accident history you should bypass the dealers and sell it directly to an end user via platforms like Jiji or Cars45. Many young professionals and female executives actively hunt for red cars because they want to stand out from the sea of silver and black cars in Lagos traffic. A clean tokunbo 4 cylinder model should realistically sell for between 5.2 Million and 5.8 Million Naira regardless of the red color. Wash it polish the paint to a high gloss and it will sell fast.
josh
3 days agoI sold my red Corolla last year and I faced the same issue. Dealers offered me terrible prices. I put it on Twitter and sold it to a young lady for my asking price within three days. Bypass the middlemen.
josh
3 days agoRed paint is notorious for fading and turning pink under the harsh Nigerian sun. If your tokunbo paint is still deep glossy red it is a huge selling point. Make sure you highlight that in your advert.
josh
3 days agoDealers use any excuse to drop the price. If it was silver they would say the mileage is too high. If it was black they would say black absorbs heat. Stand your ground the car has its value.