How to start cars importation business in nigeria with auction site from home .
How To Import Cars Into Nigeria with Auction Sites from Home || Car Business/Importation in Nigeria
When import of cars come to mind, most people tend to think of long stressful procedures with a lot of paper work and eventually drop the idea.
But good news, you can actually import any car of your choice from the comfort of your living room or office desk with a quite simple procedure,
all you need is a laptop/smartphone and a reliable internet connection.
The most popular and most reliable method used in car importation is through auction sales usually held by insurance companies,
rental fleets and leasing companies in the U.S.
These websites put up thousands of cars for sale every weekday with their prices ranging from $1000-$2000 and lets you participate in live auctions and bid real time online.
Cars imported from the U.S have the advantage of typically coming with automatic transmission, power windows, air conditioners and other features intact.
REGISTER WITH A CAR AUCTION SITE
The first step in importing a car from the U.S is registering with a car auction site.
Most sites offer free registration while some charge up to $200 for registration with them.
You will need to submit your identification card(scanned) and other credentials during registration.
Don’t ever make the mistake of sending money to “agents” to purchase cares and send them to you here, hundreds of Nigerians have been duped this way.
Some of these auction sites are copart.com, auctionexpert.con and iaai.com.
I recommend iaai.com because they also have sister companies affiliated with them to handle hauling and shipping of your purchased vehicles.
SEARCH AND SELECT THE CAR YOU WANT TO BUY
Normally this would be the most tedious part of you’re buying a car the conventional way in Nigeria, you may have to travel to other states and locations to sample cars.
But when importing from the U.S you just log into the auction site after registration and sift through the images of the cars available for sale.
Various images shot from multiple angles are available for each car including interior shots.
At this point you need to shine to be very vigilant and observe the cars carefully and read the description as it would state if the car has any faults.
Make sure you do a vehicle history check before you proceed to buy the car.
When buying the car, there are of two types:
- Buy It Now- which means you can pay for the car immediately at the stipulated price
- Bid Dates- This means you’ll have to wait for a designated bid date and join the online live bid for the car.
- A fast internet connection really comes in handy here!
PAYING FOR YOUR CAR
Bank wire transfer and debit/credit card payment are the two main methods used in paying for your car.
The card payment is after and cheaper however it has restriction on the number of card uses per day.
You can also use bank wire transfer which lets you transfer dollars through your banks dollar account.
All these can be done with your laptop or smartphone.
Also note that you have to make the payment as soon as possible because there includes
a fine of about $50 for payments kept pending for over 2 business days.
Immediately they receive the money they credit your car auction online account with the same amount of money giving details of the car paid for.
The car is yours at this point.
SHIP YOUR CAR FROM THE U.S
iaai.com has a sister company that offers worldwide transportation and delivery services.
The website has a service group that helps you with transportation/shipping issues.
You can call 1-708-492-7080(Chicago) or simply email email@example.com.
Alternatively you can scroll to the help section on their website.
Make sure you’re fully conversant with the shipping procedure before you make payment for the car.
At this point, your shipping agent will arrange for a tow service to take your car to the port for shipping.
Import Cars Into Nigeria with Auction Sites from Home
This cost may be as low as $200 and it may be as high as $1,800 if you buy your car in a state that is far away from the seaports on the east coast.
Note that your car must leave the auction company’s compound/yard within 7 days after the bid date.
Else, you will start to pay $20 daily for storage charge.
Your shipping agent clears the car through US customs for export.
Before, you know it, your car is already on the Atlantic heading to Nigeria.
Most people prefer Ro-Ro (Roll on Roll off) shipping method to Container shipping. This is because the container shipping method is a little more expensive.
You also have to pair with other people in order to share the container cost.
The challenge with the pairing is some of the people you share the container with may delay in presenting their shipping documents or
payment for import duty in Nigeria and this may make you incur demmurage at Lagos port.
CLEAR YOUR CAR WITH THE NIGERIAN CUSTOMS [ Import Cars Into Nigeria with Auction Sites from Home ]
You can do this yourself if you have the time and energy to spare.
Alternatively, employ the service of a reliable clearing agent who will clear your car within 2-3 days.
The surface duty is 35% of the estimated value of the car.
In addition, you will pay surcharge, VAT, shipping and terminal charges as well as other miscellaneous charges.
Note that owners of 2016 and 2017 cars with mileage less than 5,000 kilometres will pay surface duty of 70%.
It typically takes about 6weeks to get the car from the auction site to the Lagos port. Now you ca