Nigerians seeking to purchase tokunbo (foreign used) cars with a budget of N10 million or less face significantly narrowed options in 2026 due to naira depreciation, rising customs clearing costs, and economic pressures that caused passenger car imports to drop 14.3 percent to approximately N1.26 trillion in 2024, down from N1.47 trillion in 2023, according to Nairametrics.
The report notes that while new cars remain priced far beyond the reach of average Nigerians and locally used vehicles often come with hidden histories, tokunbo imports continue to serve as the middle ground for car buyers, though importers and dealers are grappling with sharply rising costs of clearing foreign used vehicles following recent policy changes introduced by the Nigeria Customs Service.
The report identifies ten foreign used vehicles available within the N10 million budget, predominantly Toyota and Honda brands valued for reliability, parts availability, and mechanic familiarity across Nigerian cities, though buyers are cautioned that today’s market offers fewer good deals than when a more stable naira and lower clearing costs provided greater flexibility just a few years ago.
10 Tokunbo Cars Under N10 Million in 2026:
1. Lexus LS 460 (2007)
- Price Range: N8 million to N10 million
- Description: Luxury sedan with premium features and refined performance
2. Toyota Corolla (2003-2006)
- Price Range: N8 million to N9.5 million
- Description: Reliable compact sedan known for fuel efficiency and low maintenance costs
3. Honda Odyssey (2004-2005)
- Price Range: N8.5 million to N10 million
- Description: Family minivan offering spacious interior and versatile seating
4. Acura MDX (2004-2005)
- Price Range: N8 million to N9.5 million
- Description: Luxury SUV combining performance with upscale features
5. Toyota Camry “Big Daddy” (2003-2005)
- Price Range: N7 million to N8 million
- Description: Popular midsize sedan nicknamed for its distinctive appearance and solid build
6. Toyota RAV4 (2003-2004)
- Price Range: N8 million to N9.5 million
- Description: Compact SUV praised for practicality and durability on Nigerian roads
7. Toyota Sienna (2005-2007)
- Price Range: N9 million to N10 million
- Description: Family minivan with seven-passenger capacity and comfortable ride
8. Honda Accord (2008-2009)
- Price Range: N8 million to N9.5 million
- Description: Midsize sedan delivering good fuel economy and reliable performance
9. Honda Civic (2006-2007)
- Price Range: N7 million to N9 million
- Description: Compact sedan that’s affordable to maintain with readily available parts
10. Toyota Camry LE (2007-2009)
- Price Range: N8.5 million to N10 million
- Description: Midsize sedan featuring 2.4-liter four-cylinder engine producing 158 horsepower, paired with five-speed automatic transmission, averaging 21 mpg city and 31 mpg highway, with widespread parts availability making maintenance straightforward