How Jiji plans to boost Tokunbo car sales
Jiji + Cars45. Source: Stears Business

Have you ever noticed a car parked by the roadside with a bottle of water placed on top of it?

Recently, I learnt that the act was not so innocent. It is essentially a secret "For Sale" sign. Some Nigerians (usually auto mechanics) use this coded way to sell off used cars for owners who want to be anonymous. 

If you are buying a car like this, it means you place your trust in the mechanic that vouches for the car's quality. However, nothing stops him or her from short-selling you and the car owner for some quick gains. 

This car sale method can be considered hassle-free—the owner doesn't need to explain the specifications or shortcomings of the vehicle. The owner is also able to reach a wider market which can potentially bring higher value. 

Alternatively, a seller might consider a similar approach of selling his used car to friends

This story is only available to Premium subscribers Subscribe or sign in to finish reading

Not ready to subscribe? Register to read a selection of free stories

Adesola Afolabi

Adesola Afolabi

Read Latest

Who should the Nigerian government tax?

PREMIUM - 21 JAN 2022

Nigeria needs ₦350 trillion to fund its new national development plan

PREMIUM - 20 JAN 2022

Will venture debt work for your startup?

PREMIUM - 19 JAN 2022

Why are some Nollywood scripts so subpar?

PREMIUM - 18 JAN 2022