Price of Toyota Corolla in Nigeria
The price of Toyota Corolla in Nigeria correlates closely with the year (how recent the model is), mileage, the condition (whether new, fairly used, direct tokunbo or Nigerian used), and of course location and other demand factors. Generally, imported Toyota Corolla (brand new and foreign used) are the most expensive while Nigerian used ones are considered generally more affordable.
Price of Brand New Toyota Corolla in Nigeria
Fully loaded brand new Toyota Corolla sales for ₦35,000,000 to ₦45,500,000 in popular car dealerships in Lagos, Nigeria. In Abuja, the price could go as high as ₦48m for a tear-rubber. There are variations for different trims, the LE/XE/SE trims are cheaper than SLE, XLE, and XSE. And as expected, newer makes are far more expensive.
Apart from model and trims, colors and location also influence the price of brand new Toyota Corolla in Nigeria. The majority of working-class men tend to prefer black color and so the demand is often reflected in the price of the black color corolla. In most cases, white colors are cheaper when compared to black, red, and silver. Another factor is the rim/wheel. Fancy alloy wheels tend to be costlier compared to regular “follow-come” wheels.
Price of Foreign-used (Tokunbo) Toyota Corolla in Nigeria
Vehicles that have been used overseas (any country outside Africa) before importing to Nigeria are generally referred to as “foreign-used”, “direct Belgium” or “Tokunbo”. Nigerians believe that foreign used cars are better maintained, more durable, and more reliable than Nigerian used vehicles.
In Nigeria, Tokunbo Toyota Corolla price is between ₦5,000,000 to ₦16,000,000 for a quality grade; depending on how recent the vehicle model is, the trim, and other factors. The demand for foreign-used Toyota Corolla is very high in Nigeria, and so also is the supply. Jiji.ng alone has 2,990 Tokunbo Toyota Corollas listed for sale at an average price of ₦8.7m today February 21, 2024.
Price of Nigerian-used Toyota Corolla in Nigeria
Nigerian used cars are the cheapest when compared to brand new and foreign-used of the same model and specs. To buy a Nigerian used Toyota Corolla, the buyer needs to contact a former owner who wishes to sell, from there, the bargains happen and transactions are completed before the change of ownership. You can also purchase a Nigerian used Toyota Corolla through car dealerships in any state in Nigeria. Another alternative is through online vehicle marketplaces such as Betasales.ng, Jiji.ng, Cars.ng, and many others.
From market research we conducted today February 21, 2024, Nigerian-used Toyota Corollas sell between ₦2.9 to ₦9m – depending on how new the vehicle is, the specs, trim, rims, and other factors. Generally, distress sales are the most affordable. In Betasales, we have affordable Nigerian-used Toyota Corolla listed for your consideration.
Prices of Fairly Used Toyota Corolla in Nigeria
- Toyota Corolla 2003 Black – ₦2.8m
- Toyota Corolla 2004 TS Black – ₦2.9m
- Toyota Corolla 2005 LE Black – ₦2.85m
- Toyota Corolla 2006 LE Silver – ₦3.9m
- Toyota Corolla 2007 White – ₦2.95m
- Toyota Corolla 2008 Silver – ₦4.1m
- Toyota Corolla 2009 Grey – ₦4.95m
- Toyota Corolla 2010 Teal – ₦4.8m
- Toyota Corolla 2011 Blue – ₦5.5m
- Toyota Corolla 2013 Gray – ₦5.8m
- Toyota Corolla 2014 Gray – ₦8.6m
- Toyota Corolla 2015 Gray – ₦9.3m
- Toyota Corolla 2017 White – ₦11m
- Toyota Corolla SE 2020 Black – ₦ 17.5m
- Toyota Corolla 2022 Black – ₦21.7m
Other Factors Influencing the Price of Toyota Corolla
In addition to the factors previously discussed, several other elements play a critical role in influencing the cost of a Toyota Corolla in Nigeria, both from a buyer’s and seller’s perspective.
One key factor is the specific model year and trim level of the Corolla. For instance, searches and demand trends suggest more interest in certain years like 2010, 2012, and 2014, indicating these models might sell for higher prices due to their popularity. Similarly, specific trims like the Sport, SLE and hybrid models are frequently sought after, potentially driving up their resale value.
Moreover, the vehicle’s features and specifications, such as fuel efficiency/consumption, interior design, engine capacity/size, and even color, can significantly impact pricing. Higher fuel efficiency and a well-maintained interior, for example, can justify a higher asking price.
The presence of additional features like an advanced dashboard system, a more robust engine and type of headlights can also elevate a Corolla’s market value. Furthermore, regional factors such as the car’s location (e.g., Lagos or Abuja) and its condition (tokunbo, fairly used, etc.) also play a substantial role. These nuanced factors, combined with the broader economic and market trends, create a dynamic cost landscape for the price of Toyota Corolla in Nigeria, reflecting a diverse range of consumer preferences and seller considerations.
Demand for Toyota Corolla in Nigeria
Nigerians love cars, and Japanese cars such as the Toyota can never go out of demand. The Toyota Corolla is currently the most in-demand and most popular sedan car in the whole of Nigeria. From our research, over 250,000 units of Toyota Corolla cars are imported into Nigeria yearly, and a good percentage of these cars are sold within the same year.
As of February 21, 2024; 4,962 Toyota Corollas are listed for sale on Jiji.ng, one of Nigeria’s top marketplace for used vehicles. Brand new Toyota products, including Corolla may be purchased via toyotanigeria.com, an official partner in Nigeria.
The use case of Toyota Corolla cars in Nigerian families depends on several factors. Newer models (2020 and later) and higher trims (XLE and XSE, full option) of Corollas are mostly found in the fleet of top companies such as banks, churches, insurance companies, and government agencies. This is obvious since average families cannot afford brand new models of Toyota Corolla which currently cost between ₦35,000,000 to ₦45,500,000 in popular car dealerships.
Older models such as models 2005-2010 or earlier and mid-low level trims such as the SE, XE, and LE are mostly found among average Nigerian professionals as private vehicles. Very older Toyota Corollas are used for ride-hailing such as Uber, Bolt, hire services, and so on. You can also find those being used by civil servants, university lecturers, etc.
The Toyota Corolla remains a dominant force in Nigeria’s automotive market, reflecting a blend of affordability, reliability, and status across various social and economic segments.
The price variability, influenced by factors such as model year, condition, mileage, location, and demand, caters to a wide range of buyers. From luxury new models gracing corporate fleets to older, more affordable versions serving as private vehicles or in ride-hailing services, the Corolla’s versatility is evident.
The market for both foreign-used and Nigerian-used Corollas thrives, each segment offering value in terms of cost and quality. This comprehensive analysis highlights the Toyota Corolla not just as a vehicle, but as an integral part of the Nigerian lifestyle, adept at meeting diverse needs and preferences. As the market continues to evolve, the Toyota Corolla is likely to maintain its status as a top choice for Nigerian motorists, due to a smart blend of durability, style, and economic practicality.