Nigeria’s used car market is a flourishing hub of opportunity, with many options for buyers. In a country where affordability matters, whether you’re a first-time car owner or looking to upgrade your current vehicle, finding the best-used cars below 5 million Naira is a smart choice. In this article on IchieTech, we’ll explore various categories of vehicles that fit this budget and delve into the considerations that can help you make an informed decision.
List of the Best Used Cars Below 5 Million Naira
Here is a list of the top contenders in the Nigerian used car market, all priced between 3 and 5 million Naira, along with their average selling prices. Keep in mind that these prices are approximate, and you may find some of these cars for more or less than the amounts listed.
1. Toyota Camry (2007 – 2009)
The Toyota Camry from 2007 to 2009 marked a significant era in the sedan’s history. Popularly called muscle or spider by the Nigerian car faithful, it’s renowned for its reliability, comfort, and practicality.
The Camry continued to be a top choice for families and commuters alike. With its sleek and timeless design, it appealed to a wide range of drivers. The 2007-2009 models offered a variety of engines, including fuel-efficient four-cylinders and powerful V6 options, catering to different preferences.
Inside, the Camry boasted a spacious and well-appointed cabin, with user-friendly controls and ample trunk space. Its reputation for durability and resale value made it a smart investment, cementing its status as a beloved classic in the automotive world.
| Price | |
| Nigerian Used | ₦3,700,000 |
| Foreign Used (Tokunbo) | ₦4,600,000 |
2. Honda Accord (2007 – 2010)
The Honda Accord from 2007 to 2010 continued to excel in its role as a dependable and well-rounded sedan. It appealed to a wide range of drivers due to its blend of practicality, dependability, and style.
The Accord displayed a sleek and modern design that stood the test of time during its period. It offered a variety of engine options, including efficient four-cylinders and powerful V6s, to accommodate a wide range of tastes.
The cabin was spacious and thoughtfully designed on the inside, with user-friendly technology and plenty of cargo space. The Accord’s reputation for durability and resale value made it a wise choice, cementing its position as a reliable favourite in the automotive market.
| Price | |
| Nigerian Used | ₦2,850,000 |
| Foreign Used (Tokunbo) | ₦4,800,000 |
3. Toyota Corolla (2004 – 2007)
The Toyota Corolla from 2004 to 2007 was well-regarded for its reliable engine and commendable performance. It was powered by a 1.8-litre four-cylinder engine that provided a good balance of efficiency and power for daily driving.
Depending on the trim level, this engine produced between 126 and 164 horsepower. Its fuel economy is excellent, making it a cost-effective option for fuel-conscious drivers. The suspension on the Corolla provided a comfortable and smooth ride, with precise steering for easy manoeuvring.
While it was not a sports car, it excelled at providing a dependable and efficient driving experience, which contributed to its long-term popularity in the compact car segment.
| Price | |
| Nigerian Used | ₦2,700,000 |
| Foreign Used (Tokunbo) | ₦3,800,000 |
4. Mercedes-Benz E350 2008
The 2008 Mercedes-Benz E350 was a luxury sedan that combined elegance with performance. Powered by a 3.5-litre V6 engine with 268 horsepower, which provided quick acceleration and plenty of passing power.
Paired with a seven-speed automatic transmission, it offered a seamless and refined driving experience. The rear-wheel-drive configuration of the E350 contributed to its balanced handling and precise steering.
Its suspension was tuned for comfort, making long journeys enjoyable while still providing responsive performance when required. Overall, the 2008 E350 is a superb blend of power and sophistication, catering to those who sought both style and dynamic driving capabilities in a luxury sedan.
| Price | |
| Nigerian Used | ₦3,900,000 |
| Foreign Used (Tokunbo) | ₦5,500,000 |
5. Lexus ES 330 (2003 – 2006)
The Lexus ES 330, which was manufactured from 2003 to 2006, has a refined engine and impressive performance. It is powered by a 3.3-litre V6 engine that produces 225 horsepower.
This engine, combined with a smooth-shifting automatic transmission, ensures quick acceleration and smooth highway cruising. Because of its well-tuned suspension and quality craftsmanship, the ES 330 excels at providing a comfortable and quiet ride.
While it is not designed for aggressive sportiness, its precise steering and composed handling make it ideal for long-distance comfort. The Lexus ES 330 provides a harmonious blend of power and comfort for those who value a luxurious and serene driving experience.
| Price | |
| Nigerian Used | ₦3,750,000 |
| Foreign Used (Tokunbo) | ₦5,000,000 |
6. Toyota Camry (2003 – 2006)
The Toyota Camry from 2003 to 2006 was known for its dependable engine and solid performance. The Camry provided versatility by offering a choice of engines, including a 2.4-liter four-cylinder and a more powerful 3.0-liter V6.
The four-cylinder engine provided adequate power for daily driving, whereas the V6 engine delivered a punchier performance with around 190 to 210 horsepower. It strikes a balance between practicality and driving enjoyment, with responsive handling and a comfortable ride.
The Camry’s reputation for dependability and fuel efficiency has made it a popular choice, ensuring that it remains a dependable sedan for a wide range of drivers.
| Price | |
| Nigerian Used | ₦3,000,000 |
| Foreign Used (Tokunbo) | ₦4,000,000 |
7. Mercedes-Benz C300 2008
The 2008 Mercedes-Benz C300 has an impressive engine and performance package. It has a 3.0-liter V6 engine that produces a respectable 228 horsepower, allowing for quick acceleration and plenty of power on demand.
The C300 offers smooth and responsive gear changes when paired with a seven-speed automatic transmission. It provides a balanced and sporty driving experience with rear-wheel drive or optional 4MATIC all-wheel drive.
The suspension has been fine-tuned to achieve a harmonious balance of comfort and agility, making it an ideal choice for those seeking both luxury and dynamic driving capabilities in a compact luxury sedan.
| Price | |
| Nigerian Used | ₦3,950,000 |
| Foreign Used (Tokunbo) | ₦5,500,000 |
8. Peugeot 406 2005
The 2005 Peugeot 406 is available with a variety of engine options designed to meet a variety of driving requirements. Among the options is a 2.0-liter inline-four engine with 138 horsepower for efficient and practical performance.
This engine is well-known for its fuel efficiency, making it an economical choice for daily commuting. The Peugeot 406 drives well, providing a comfortable and smooth ride on city streets as well as highways.
While it is not a sports car, its balanced performance and low cost make it a practical and dependable option for those looking for a versatile and cost-effective vehicle.
| Price | |
| Nigerian Used | ₦2,400,000 |
| Foreign Used (Tokunbo) | ₦3,900,000 |
9. BMW 328i 2008
The 2008 BMW 328i is synonymous with dynamic engine performance and handling finesse. It is powered by a 3.0-liter inline-six engine that generates an impressive 230 horsepower.
This engine provides quick acceleration and a satisfying surge of torque throughout the rev range. The 328i provides a spirited driving experience when paired with a responsive six-speed automatic or a smooth-shifting manual transmission.
Its rear-wheel-drive configuration, well-tuned suspension, and precise steering contribute to remarkable agility and control on the road. The BMW 328i of 2008 is a true driving enthusiast’s choice, blending power and precision for an exhilarating journey behind the wheel.
| Price | |
| Nigerian Used | ₦3,700,000 |
| Foreign Used (Tokunbo) | ₦4,700,000 |
10. Toyota Corolla (2008 – 2010)
The Toyota Corolla from 2008 to 2010 was praised for its dependable engine and efficient performance. It is typically equipped with a 1.8-litre four-cylinder engine that balances power and fuel economy.
This engine produces between 132 and 158 horsepower, providing adequate acceleration for daily driving. Paired with either a manual or automatic transmission, it offers smooth and hassle-free gear changes.
While not intended for high-speed thrills, the Corolla excels in terms of comfort, user-friendliness, and fuel efficiency. It remains a popular choice for those seeking dependable and economical transportation without sacrificing quality and reliability.
| Price | |
| Nigerian Used | ₦3,300,000 |
| Foreign Used (Tokunbo) | ₦4,900,000 |
11. Toyota Matrix (2005 – 2008)
The Toyota Matrix was known for its versatile performance and efficient engine options from 2005 to 2008. It usually comes with a 1.8-liter four-cylinder engine that produces between 126 and 164 horsepower depending on the trim level.
This engine has enough power for daily commuting and excellent fuel efficiency, making it a good choice for frugal drivers. The Matrix’s agile handling and small size contribute to its road agility, making it easy to manoeuvre in urban areas.
It’s a versatile vehicle that combines Toyota’s dependability with the flexibility required for a variety of lifestyles, whether for city cruising or cargo transport.
| Price | |
| Nigerian Used | ₦3,500,000 |
| Foreign Used (Tokunbo) | ₦4,800,000 |
12. Lexus GS 350 (2006 – 2008)
The Lexus GS 350 from 2006 to 2008 is notable for its powerful engine and high-performance capabilities. It is powered by a 3.5-litre V6 engine that produces around 303 horsepower. This engine provides quick acceleration and plenty of passing power while remaining smooth and refined.
It provides seamless gear changes when paired with a responsive automatic gearbox. The GS 350’s rear-wheel-drive configuration, combined with its well-tuned suspension, provides a well-balanced blend of comfort and sportiness.
This luxury sedan provides an engaging and exhilarating driving experience, appealing to those seeking both performance and sophistication on the road, thanks to precise steering and advanced technology.
| Price | |
| Nigerian Used | ₦3,850,000 |
| Foreign Used (Tokunbo) | ₦5,500,000 |
13. Toyota Avalon (2006 – 2008)
The Toyota Avalon from 2006 to 2008 had a strong engine and good performance. It is typically equipped with a 3.5-liter V6 engine that produces around 268 horsepower. This powerful engine provides confident acceleration and smooth highway cruising.
It delivers smooth gear shifts when paired with a responsive automatic transmission. The Avalon’s front-wheel-drive setup and well-tuned suspension provide a comfortable and composed ride, prioritising comfort without sacrificing agility.
While it is not a sports car, it provides a refined driving experience as well as ample space for passengers and cargo. The Toyota Avalon of this era is an excellent choice for those looking for a comfortable, powerful, and dependable full-sized sedan.
| Price | |
| Nigerian Used | ₦3,300,000 |
| Foreign Used (Tokunbo) | ₦5,200,000 |
Important Things to Consider Before Buying a Used Car
When considering purchasing a used car, here are five essential factors to prioritize before making your decision:
- Budget: Determine your budget before you start looking at used cars. Consider not only the purchase price but also ongoing costs such as insurance, fuel, maintenance, and potential repairs. Sticking to a realistic budget is essential to avoid exceeding yourself financially.
- Vehicle History: Obtain a comprehensive vehicle history report for the car you’re interested in. This report, often available through services like Carfax or AutoCheck, can reveal important information about the car’s past, including accidents, title issues, and the number of previous owners. A clean history is preferred, but a clear understanding of any previous issues is required.
- Mechanical Inspection: Always have a trusted mechanic inspect the used car thoroughly before finalizing the purchase. A professional inspection can reveal hidden problems, potential maintenance requirements, and the overall condition of the vehicle. It is a small investment that can save you money on future repairs.
- Test Drive: Take the car for a test drive to evaluate its performance, handling, and overall comfort. Pay attention to how it drives, brakes, and accelerates, and whether there are any unusual noises or warning lights on the dashboard. A test drive allows you to get a feel for the vehicle and identify any immediate issues.
- Ownership Costs: Research the cost of ownership for the specific make and model you’re considering. Look into factors like insurance rates, fuel efficiency, and typical maintenance costs. Understanding these ongoing costs can help you make an informed decision and avoid financial surprises.
These five factors provide a solid foundation for determining the suitability of a used car. You will be better equipped to make a confident and informed purchase if you carefully consider your budget, gather comprehensive vehicle history information, get a professional inspection, go on a test drive, and research ownership costs. Furthermore, do not rush the process; instead, take your time finding the right used car that meets your needs and fits within your budget.
Conclusion
In conclusion, Nigeria’s used car market holds a treasure trove of options for those seeking dependable and budget-friendly vehicles. Whether you’re leaning towards a compact car, sedan, hatchback, SUV, or crossover, diligent research, consideration of the brand’s reputation, and careful vehicle inspection is your compass. With these insights, you can confidently drive away in one of the quality used cars below 5 million Naira that caters to your needs and preferences. So, buckle up, and embark on your journey to affordable automotive delight!
