My friend Tunde called me last week, frustrated. He’d bought a car six months ago, thought he got an amazing deal. Now he’s spent more on repairs than he saved on the purchase price.

“I should have listened to you,” he said. I didn’t have the heart to say I told you so.

The thing about cheap cars is that they’re rarely actually cheap. They just move the costs around in ways that aren’t obvious until you’re stuck with them.

The Purchase Price Is Just the Beginning

When you see a car advertised for ₦1.5 million when similar models go for ₦2.5 million, your brain lights up. That’s a million naira saved, right?

Wrong.

That difference exists for a reason. Maybe the car needs immediate repairs. Maybe it’s been in an accident. Maybe it has issues the seller knows about but you don’t. Or maybe it’s just old enough that expensive maintenance is right around the corner.

I learned this the hard way when I was younger. Bought a car for ₦800,000 when I should have spent ₦1.2 million. Within three months, I’d spent ₦500,000 fixing things. And the problems kept coming.

The Fuel Consumption Nobody Mentions

Here’s something that caught me off guard: cheap cars often have terrible fuel efficiency.

That 2005 model might seem like a bargain, but if it’s guzzling fuel because the engine isn’t running properly, you’re bleeding money every single week.

Let’s do quick math. Say you spend ₦30,000 on fuel monthly with a well-maintained car. If your cheap car’s poor condition means you’re spending ₦45,000 instead, that’s ₦15,000 extra every month. In a year, that’s ₦180,000.

That “savings” from buying cheap disappears fast.

Parts Are a Nightmare

This is the big one that people never see coming.

You buy a car model that’s uncommon in Nigeria, or one that’s so old that parts are no longer manufactured. Now what?

Every time something breaks, you’re searching for parts. Calling multiple dealers. Ordering from abroad. Waiting weeks. Paying premium prices because the parts are rare.

My cousin bought a cheap European car. Beautiful machine. But every time he needs parts, it’s a three-week ordeal and costs twice what Toyota parts would cost. He’s calculated that he could have bought a more expensive but common model and still saved money over two years.

The Mechanic Becomes Your Best Friend

When you buy a solid car, you see your mechanic for routine maintenance. When you buy a cheap car with issues, you see them weekly.

I know someone who bought a cheap car and became so friendly with his mechanic that they now hang out on weekends. Funny story, but it represents a lot of money and time wasted.

Every visit to the mechanic costs money. Even if it’s just diagnostics or small fixes, it adds up. And if you’re losing work hours because your car keeps breaking down, that’s even more money gone.

Insurance Headaches

Try getting comprehensive insurance on a car that’s constantly breaking down or has a questionable history.

Either you’ll pay higher premiums, or you’ll get rejected outright, or you’ll end up with basic third-party coverage that doesn’t protect you properly.

I’ve seen people stuck with cars they can’t adequately insure. One accident and they’re financially destroyed because they were trying to save money on the purchase.

The Stress Tax

This isn’t in naira and kobo, but it’s real.

The anxiety of not knowing if your car will start. The stress of breaking down in traffic. The embarrassment of constantly asking for rides because your car is in the shop again. The mental energy spent dealing with problems.

How do you price peace of mind? Because that’s what you’re giving up when you buy a cheap problematic car.

My blood pressure used to spike every time I needed to drive my old cheap car anywhere important. Will it start? Will it overheat? Will I make it there and back? That’s not a way to live.

Resale Value Drops Like a Stone

When you eventually want to sell, cheap cars that have been problematic sell for almost nothing.

You bought at ₦1.5 million thinking you got a deal. Three years later, it’s worth maybe ₦600,000 if you’re lucky. Meanwhile, someone who bought a ₦2.5 million car in good condition can sell for ₦1.5 million.

The depreciation on problem cars is brutal because everyone can see they’re problems waiting to happen.

The Opportunity Cost

Here’s what really gets me: the time and money you spend on a cheap car is time and money you can’t invest in other things.

That ₦50,000 monthly going to repairs and extra fuel? It could be going into savings or investments. The hours spent at the mechanic? You could be working or spending time with family.

When I finally sold my cheap car and bought a reliable one, I calculated that I’d lost almost ₦2 million over two years in direct costs and lost opportunities. That hurt.

Common Scenarios That Look Good But Aren’t

Let me break down some situations I see all the time:

“The car just needs a small repair” – If it’s so small, why hasn’t the seller fixed it? Usually because the repair isn’t small at all, or it’s a symptom of bigger problems.

“It’s a one-time owner, carefully used” – Great, but if they’re selling it cheap despite careful use, something’s wrong. Maybe they know something expensive is about to break.

“All it needs is a paint job” – Paint jobs are expensive. And if the paint is bad, what else was neglected? Probably a lot.

“The documents have a small issue” – Document issues are never small. They can make the car impossible to resell or even illegal to drive.

When Cheap Makes Sense

I’m not saying never buy a cheaper car. Sometimes it makes sense.

If you’re a mechanic or very mechanically inclined and can do repairs yourself, a fixer-upper can be a good deal.

If you only need basic transportation for short distances and can handle occasional breakdowns, an older cheap car might work.

If you’re buying specifically to learn about car repairs and maintenance, a cheap problematic car is actually a good teacher.

But for most people, who need reliable daily transportation, buying cheap is expensive.

What You Should Actually Do

Save up and buy better. I know that’s not what you want to hear, but it’s the truth.

If you can’t afford a good car right now, keep using alternative transportation while you save. The money you’d lose on a cheap car can go toward saving for a decent one.

Or buy a slightly older model of a reliable brand rather than a newer model of something questionable. A 2012 Toyota in good condition beats a 2015 unknown brand with problems.

Focus on the total cost of ownership, not just the sticker price. Calculate what you’ll really pay over two or three years, including repairs, fuel, and your time.

Red Flags to Watch For

Price significantly below market value without clear explanation. Seller pushing for quick sale. Reluctance to allow independent mechanic inspection. Vague or missing documentation. Recent paint job or major repairs that seem suspicious.

Any of these alone should make you pause. Multiple red flags together mean walk away.

The Real Cost Calculation

Before buying any cheap car, sit down and honestly calculate:

• Immediate repairs needed
• Likely repairs within six months based on car age and condition
• Monthly fuel costs compared to a more efficient carParts availability and typical costs
• Your time spent on maintenance and repairs
• Resale value after you’re done with it

When you add all this up, that cheap car often costs more than a moderately priced reliable one.

Final Thoughts

I get it. We all want to save money. We all get excited about good deals. But with cars, the deal that looks too good usually is.

The cheapest car you can buy is often the most expensive car you’ll own.

I’m not saying spend more than you can afford. I’m saying look at the full picture. A slightly more expensive car that’s reliable and well-maintained will save you money, stress, and time.

Your car should get you from point A to point B reliably. If it’s not doing that, it doesn’t matter how little you paid for it. It’s still too expensive.

Trust me on this. I’ve made the mistakes so you don’t have to. When someone shows you a cheap car, don’t ask why it’s so cheap. Ask yourself what problems are hiding in that low price, because they’re almost certainly there.