NewStats: 3,263,501 , 8,180,362 topics. Date: Friday, 06 June 2025 at 09:52 AM 6c4z30

To those that bought their first car when did you decide it was time ?
After buying your first car how much did you have left?
Did you regret buying it?
Car or Land first which one will you suggest?

Please your contribution will be appreciated

Waiting

Oga car first. Because na car go give you quick connect to go higher. Except you're not an hustler. I'm targeting 9m to get a direct Belgium so I can face this hustle better. Because if as you dey hustle and you go buy Nigeria drive wen get problem. It will drag you back in life 10times. Car first abeg

Letmecum:
Oga car first. Because na car go give you quick connect to go higher. Except you're not an hustler. I'm targeting 9m to get a direct Belgium so I can face this hustle better. Because if as you dey hustle and you go buy Nigeria drive wen get problem. It will drag you back in life 10times. Car first abeg

Thank you sir , I like your advice what car do you intend to buy?

SALLYBERRY01:


Thank you sir , I like your advice what car do you intend to buy?

2014 honda Accord Sport. Or Camry . But I prefer Honda

SALLYBERRY01:
To those that bought their first car when did you decide it was time ?
After buying your first car how much did you have left?
Did you regret buying it?
Car or Land first which one will you suggest?

Make sure you build a house ...even if na room and parlour ...ride is a liability depending on what you are using it for ....but your house can accommodate you ...be rented to others ...you can even sell it and make more money ...for those relocating .....for me i built a house b4 buying a car

First of all, are you a businessman or a salary earner ?

Why would you buy a house first? A house is a luxury purchase because business wise, the liquid cash returns are so low in comparison to the capital invested. Except you are a realtor who sells houses for a living I don't see the validation. You need a stable job or business with steady returns first before making a house purchase.

Get a car first, it opens more opportunities. Get a cheap but reliable Naija used as your first car to learn the ropes if you're not buoyant enough for a toks. You can upgrade as your income grows later. You don't want to have to replace engine or rear light for #1m

Letmecum:
2014 honda Accord Sport. Or Camry . But I prefer Honda

The cvt on the 2014 Honda (4plug) ruin it. I no go advice make you buy am except na inside town you wan dey drive am.

greggng:



Make sure you build a house ...even if na room and parlour ...ride is a liability depending on what you are using it for ....but your house can accommodate you ...be rented to others ...you can even sell it and make more money ...for those relocating .....for me i built a house b4 buying a car

Thank you for the input I really appreciate it

Letmecum:
2014 honda Accord Sport. Or Camry . But I prefer Honda

Tokunbo 9m right

adecamp:
First of all, are you a businessman or a salary earner ?

I'm a buisness man, I'm into interior and exterior desigs

laivwire:
Why would you buy a house first? A house ia luxury because business wise, the liquid cash returns are so low. You need stable hustle and business first before house.

Get a car first, it opens more opportunities. Also get a cheap but reliable Naija used as your first car to learn the ropes if you're not buoyant enough for a toks. You can upgrade as your income grows later.

You don't want to replace engine or rear light or #1m

Thank you for input, my buisness requires me to move from one place to another, like how much can one budget for rav 4 nigeria used in a good condition. 07 upwqrd

SALLYBERRY01:


Thank you for input, my buisness requires me to move from one place to another, like how much can one budget for rav 4 nigeria used in a good condition. 07 upwqrd

I dont't sell cars but please consult Jiji. Thats the easiest source of scoping current market prices. The Rav4 is a good option but I am certain it starts from #7m upwards.

Letmecum:
2014 honda Accord Sport. Or Camry . But I prefer Honda

9m can't get you direct Belgium of these cars, only naija used.

TechCapon:
9m can't get you direct Belgium of these cars, only naija used.

Was curious too.

1. When did you decide it was time to buy your first car?

Later part of 2023. The cost of Uber and Bolt had skyrocketed, and I realized I was spending an absurd amount on transportation. It hit me that owning a car would be more cost-effective in the long run. Plus, it felt like one of those things you eventually step into as an adult. So, I just went for it.

2. After buying your first car, how much did you have left?

I had about the same value of the car left in savings. I quickly invested a portion of that into real estate shortly after.

3. Did you regret buying the car?

Not at all. I took my time to research and make a well-informed decision. Even though it was a ed (used) car, it’s been reliable and has had no major issues. More importantly, it significantly improved my quality of life—and even the lives of people around me. It’s also helped me save money on transportation overall. I documented my experience getting my car in my blog - that might be helpful. It’s in my signature.

4. Car or land first—what would you suggest?

I bought land and started building in Ibadan back in 2021. By 2023, I had gotten it to the carcass stage, then paused for a while. I recently completed it and rented it out. Funny enough, I still live in a rented apartment because the area isn’t developed enough for me to live in yet—even for holidays.

My advice?
Do what makes the most sense for your current situation, but also think about what will make you happy and comfortable.

When I started my building project, I was okay with using Uber and public transport—it worked for that phase of my life. So, I didn’t really need a car at the time.

If you’re thinking of getting a car now:

Decide on a budget which ideally shouldn't cost more than 50% of your total savings. If it does, it might be wise to keep saving.


If you're considering buying land:

If the goal is to eventually live there, be very strategic about the location.
I wasn’t as strategic as I should have been. I banked on the area developing quickly, but that hasn’t happened. People live there, but it's not developed enough for me—so I just rented it out.

What would I have done differently?

If I had the knowledge I have now back in 2021, I probably wouldn’t have bought land and started building. Instead, I’d have looked into pooling funds to co-develop income-generating properties. That way, I’d have recurring revenue today—and possibly the capital to buy land in a more upscale area.

Cheers!

Buy a car.

JentleJosh:
1. When did you decide it was time to buy your first car?

Later part of 2023. The cost of Uber and Bolt had skyrocketed, and I realized I was spending an absurd amount on transportation. It hit me that owning a car would be more cost-effective in the long run. Plus, it felt like one of those things you eventually step into as an adult. So, I just went for it.

2. After buying your first car, how much did you have left?



I had about the same value of the car left in savings. I quickly invested a portion of that into real estate shortly after.

3. Did you regret buying the car?

Not at all. I took my time to research and make a well-informed decision. Even though it was a ed (used) car, it’s been reliable and has had no major issues. More importantly, it significantly improved my quality of life—and even the lives of people around me. It’s also helped me save money on transportation overall. I documented my experience getting my car in my blog - that might be helpful. It’s in my signature.

4. Car or land first—what would you suggest?

I bought land and started building in Ibadan back in 2021. By 2023, I had gotten it to the carcass stage, then paused for a while. I recently completed it and rented it out. Funny enough, I still live in a rented apartment because the area isn’t developed enough for me to live in yet—even for holidays.

My advice?
Do what makes the most sense for your current situation, but also think about what will make you happy and comfortable.

When I started my building project, I was okay with using Uber and public transport—it worked for that phase of my life. So, I didn’t really need a car at the time.

If you’re thinking of getting a car now:

Decide on a budget which ideally shouldn't cost more than 50% of your total savings. If it does, it might be wise to keep saving.


If you're considering buying land:

If the goal is to eventually live there, be very strategic about the location.
I wasn’t as strategic as I should have been. I banked on the area developing quickly, but that hasn’t happened. People live there, but it's not developed enough for me—so I just rented it out.

What would I have done differently?

If I had the knowledge I have now back in 2021, I probably wouldn’t have bought land and started building. Instead, I’d have looked into pooling funds to co-develop income-generating properties. That way, I’d have recurring revenue today—and possibly the capital to buy land in a more upscale area.

Cheers!

Thank you for taking your time to contribute to this thread I appreciate your input

tensazangetsu20:
Buy a car.

Why?

Letmecum:
2014 honda Accord Sport. Or Camry . But I prefer Honda

I love that car bro. So much.

But 9M won't even buy its Nigerian-used, let alone Belgium standard, lol.

JentleJosh:
1. When did you decide it was time to buy your first car?

What would I have done differently?

If I had the knowledge I have now back in 2021, I probably wouldn’t have bought land and started building. Instead, I’d have looked into pooling funds to co-develop income-generating properties. That way, I’d have recurring revenue today—and possibly the capital to buy land in a more upscale area.

Cheers!

Thanks for your advice, but what income-generating properties would you have co-funded?

WarrenP:


The cvt on the 2014 Honda (4plug) ruin it. I no go advice make you buy am except na inside town you wan dey drive am.

will you please shed more light on this cvt thing? I've been seeing it all around

To those that bought their first car when did you decide it was time ?

Got my first car, which I still drive by the way on December 1st, 2019.

The reason I decided to get the car was funny. I had been sick sometime in November of that year. Then one morning, it dawned on me that if I died now, no one knew of any money I had. And I would have died without enjoying the little I had made. I was 28 at the time.

So I decided to just get a car as that was the only thing that would make me happy at the time.


After buying your first car how much did you have left?

So I had circa 1.8m in cash at the time and had another 3.4m in treasury bills that was maturing in February 2020.

I got my car for 1.4m. It was a 2007 Toyota corolla. Naija used but with a tokunbo engine. Got it from Gazzuzz (RIP).

You can do the maths to know how much I still had left after buying the car.

Did you regret buying it?

No. I never regretted it. And I still have the car till now. The car has been very reliable. And has helped my movements so well.

I travel a lot both intra and inter state. And the convenience of a personal car has made my journeys so bearable. I've never used public transport for any of my journeys since I got that car in 2019. So the car has really served me.


Car or Land first which one will you suggest?

Just do the one that you need the most.

I plan to change my car soon, and I still don't have a piece of land.

I honestly don't fancy this idea of buying land inside the bush and leaving it for years to appreciate.

I prefer to buy land in an already developed part of town (more pricey, yes). And building on it immediately. And that's what I am going to do when I am ready.

Honestly, the money I used to buy my car wouldn't have gotten me a good piece of land in a developed part of town.

In this life, you must realize that almost everyone has an ulterior motive when dishing advice.

Most land agents will tell you to buy land first, and build a house because they expect you'll buy from them.

But let's be realistic, the amount you'll need to buy a car and the one you'll need to build a house are never the same.

For instance, the car I want to buy next costs 14m. But if I want to build a bungalow, I'll need nothing less than 50m, land inclusive.

So we can't really compare house and car.

At the end of the day, you just have to do what's best for you. If you want to go and tie down money in a bush, hoping for 20 years that it appreciates, that's on you.

haybhi1:

Thanks for your advice, but what income-generating properties would you have co-funded?

For the one I’m involved in currently, it’s a two-story residential building on the mainland.

I pooled funds with a few friends and associates, and we partnered with a developer. We entered into an agreement with the owner of an old building, demolished it, and are now redeveloping the property.

My investment secures me the rights to one apartment unit there for the next 18 years. I can choose to rent it out long-term, run it as a shortlet, or even resell it altogether.

Based on current rental value, I expect to recoup my entire investment within 3–4 years. After that, it becomes a source of recurring revenue for the remaining 14–15 years. It’s a smart way to play real estate—low entry barrier, shared risk, and long-term value.

Grupo:
To those that bought their first car when did you decide it was time ?

Got my first car, which I still drive by the way on December 1st, 2019.

The reason I decided to get the car was funny. I had been sick sometime in November of that year. Then one morning, it dawned on me that if I died now, no one knew of any money I had. And I would have died without enjoying the little I had made. I was 28 at the time.

So I decided to just get a car as that was the only thing that would make me happy at the time.


After buying your first car how much did you have left?

So I had circa 1.8m in cash at the time and had another 3.4m in treasury bills that was maturing in February 2020.

I got my car for 1.4m. It was a 2007 Toyota corolla. Naija used but with a tokunbo engine. Got it from Gazzuzz (RIP).

You can do the maths to know how much I still had left after buying the car.

Did you regret buying it?

No. I never regretted it. And I still have the car till now. The car has been very reliable. And has helped my movements so well.

I travel a lot both intra and inter state. And the convenience of a personal car has made my journeys so bearable. I've never used public transport for any of my journeys since I got that car in 2019. So the car has really served me.


Car or Land first which one will you suggest?

Just do the one that you need the most.

I plan to change my car soon, and I still don't have a piece of land.

I honestly don't fancy this idea of buying land inside the bush and leaving it for years to appreciate.

I prefer to buy land in an already developed part of town (more pricey, yes). And building on it immediately. And that's what I am going to do when I am ready.

Honestly, the money I used to buy my car wouldn't have gotten me a good piece of land in a developed part of town.

In this life, you must realize that almost everyone has an ulterior motive when dishing advice.

Most land agents will tell you to buy land first, and build a house because they expect you'll buy from them.

But let's be realistic, the amount you'll need to buy a car and the one you'll need to build a house are never the same.

For instance, the car I want to buy next costs 14m. But if I want to build a bungalow, I'll need nothing less than 50m, land inclusive.

So we can't really compare house and car.

At the end of the day, you just have to do what's best for you. If you want to go and tie down money in a bush, hoping for 20 years that it appreciates, that's on you.

Thank you so much for your input , it really an eye opener I really appreciate

JentleJosh:


For the one I’m involved in currently, it’s a two-story residential building on the mainland.

I pooled funds with a few friends and associates, and we partnered with a developer. We entered into an agreement with the owner of an old building, demolished it, and are now redeveloping the property.

My investment secures me the rights to one apartment unit there for the next 18 years. I can choose to rent it out long-term, run it as a shortlet, or even resell it altogether.

Based on current rental value, I expect to recoup my entire investment within 3–4 years. After that, it becomes a source of recurring revenue for the remaining 14–15 years. It’s a smart way to play real estate—low entry barrier, shared risk, and long-term value.

That's interesting. It's quite consistent with what I have in mind.

I have 2 more questions:
1. How much is the cost of that for you, in total?
2. How much is the total cost of the building?

SALLYBERRY01:


I'm a buisness man, I'm into interior and exterior desigs

if you have 10m for example, you can buy a good working car for like 6m. You can use the car to package yourself and meet up with clients. You driving a car will make dem take you more serious and your charging price will be up there compared to when you have no car. , don’t buy a car more than 60% of the total cash you have. You are not impressing anybody. Your car is for ease of movement because time and accessibility is money. Then with time, you can set up a showroom if you don’t already have one. Left to me tho, I don’t buy a car till I set up my shop. Getting my own shop was my topmost priority

haybhi1:
That's interesting. It's quite consistent with what I have in mind.

I have 2 more questions:
1. How much is the cost of that for you, in total?
2. How much is the total cost of the building?

For me, the carcass cost about 3.2m as of early April last year, so you'd need to adjust for inflation. You’ll also need to budget for the finishing separately.

Moderate finishing should be between 600-700k, covering interior finishes, plumbing, electrical fittings, and doors. If you're doing something more basic, you might spend a bit less.

The total cost of the building up to carcass level is around 40m.

JentleJosh:


For me, the carcass cost about 3.2m as of early April last year, so you'd need to adjust for inflation. You’ll also need to budget for the finishing separately.

Moderate finishing should be between 600-700k, covering interior finishes, plumbing, electrical fittings, and doors. If you're doing something more basic, you might spend a bit less.

The total cost of the building up to carcass level is around 40m.

That's a very huge chunk. Anyway, it promises high yield return though.

Thanks for you inputs and insights so far @Jenthejosh. I appreciate you massively.