EmmanuelThe Lexus 570 is one of the most luxurious and sought-after SUVs on the Nigerian market. Renowned for its performance, comfort, and cutting-edge technology, the Lexus 570 remains a symbol of status and sophistication. If you’re considering purchasing this premium vehicle, understanding its current price in Nigeria is crucial to making an informed decision. In this article, we will provide a comprehensive overview of the Lexus 570 price in Nigeria for both new and used models, along with insights into various factors that influence its pricing.
Overview of the Lexus 570
The Lexus 570 is a full-size luxury SUV from Toyota’s luxury division, Lexus. This model combines rugged off-road capability with luxurious features, making it suitable for both urban and adventurous driving. Some of its standout features include:
- Powerful Engine: Powered by a 5.7L V8 engine, the Lexus 570 offers an exceptional driving experience, delivering both power and smoothness on various terrains.
- Spacious Interior: With seating for up to eight passengers, the vehicle ensures a comfortable ride for all occupants.
- Advanced Technology: Equipped with the latest infotainment system, safety features, and a high-quality audio system, the Lexus 570 offers a premium experience.
- Off-Road Capabilities: The Lexus 570 is designed to perform well in off-road conditions, making it an ideal choice for those who require a vehicle that can handle both city roads and rugged terrains.
How Much Does a Lexus 570 Cost in Nigeria?
Prices for New Lexus 570 in Nigeria (2024)
The Lexus 570 is available in a variety of trims and configurations, which can affect the price. However, as of 2024, the prices for brand new models are as follows:
- Lexus 570 2024 Model: The price for a brand new Lexus 570 in Nigeria ranges from ₦70 million to ₦85 million, depending on the trim level and additional customizations. This price includes taxes, import duties, and dealership fees.
- Lexus 570 Special Editions: Special editions or customized versions of the Lexus 570 can cost higher, potentially going up to ₦90 million or more. These versions may feature premium interior finishes, advanced technology packages, and custom paint jobs.
Factors Affecting the Price of a New Lexus 570
- Import Duties and Taxes: The cost of importing the Lexus 570 into Nigeria contributes significantly to the final price. Nigerian import duties can account for up to 50% of the cost of a luxury vehicle.
- Exchange Rate Fluctuations: The price of the Lexus 570 in Nigeria is also influenced by the Nigerian Naira‘s exchange rate against other major currencies, particularly the US dollar. A devaluation of the Naira can lead to higher import costs, thus affecting the price of new vehicles.
- Dealership Fees: Different dealerships may charge varying amounts for administration, documentation, and service fees, which can add to the overall cost of purchasing the vehicle.
Used Lexus 570 Prices in Nigeria
While brand new models are often the first choice for buyers looking for the latest features, many Nigerians opt for used Lexus 570 models to save costs. Used cars can be found at a fraction of the price of new models, but several factors determine the price range:
Prices for Used Lexus 570 in Nigeria (2024)
The price of a used Lexus 570 depends on various elements such as the model year, mileage, condition, and the seller. Here’s a general overview of the pricing for used models:
- Used Lexus 570 (2018–2020): Prices for these relatively newer models typically range from ₦45 million to ₦60 million. The condition of the vehicle, along with the number of previous owners and the maintenance history, can affect pricing.
- Used Lexus 570 (2015–2017): Older models that are still in good condition may be priced between ₦35 million and ₦45 million. These vehicles often come with fewer features than the newer models but still provide excellent performance and luxury.
- Used Lexus 570 (2010–2014): Older Lexus 570s, especially those with higher mileage, can cost between ₦25 million and ₦35 million. While the price is lower, buyers should ensure that the vehicle has been properly maintained.
Where to Buy Used Lexus 570 in Nigeria
- Car Dealerships: Many luxury car dealerships across major cities like Lagos, Abuja, and Port Harcourt offer used Lexus 570 models. Dealerships provide a level of assurance regarding the quality of the vehicle and often offer after-sales services such as warranties and maintenance.
- Online Marketplaces: Platforms like Jumia Cars, Cheki Nigeria, and OLX are popular online spaces for buying and selling used cars in Nigeria. While these platforms offer competitive prices, it’s essential to verify the condition of the car through inspections or trusted sellers.
- Private Sellers: Buying directly from private sellers may offer the lowest prices, but this comes with the risk of dealing with unverified vehicles. Always ensure the vehicle has been thoroughly inspected and the ownership documents are in order.
Why Is the Lexus 570 So Expensive in Nigeria?
Several factors contribute to the high cost of the Lexus 570 in Nigeria:
1. High Import Duties and Taxes
Nigeria’s import duties on luxury vehicles are substantial, with vehicles like the Lexus 570 subject to high tariffs. Import duties can constitute a significant portion of the vehicle’s price, making it more expensive compared to markets in other countries.
2. Limited Availability
The Lexus 570 is a premium vehicle that is not produced in large quantities in Nigeria. This limited availability drives up demand and, in turn, increases the price. Additionally, the availability of genuine parts and servicing centers in Nigeria can add to the overall cost of owning a Lexus 570.
3. The Cost of Luxury
As a luxury vehicle, the Lexus 570 is priced higher due to its advanced features, premium materials, and superior craftsmanship. Buyers are paying not only for the performance but also for the comfort, technology, and brand prestige that comes with owning a Lexus.
4. Exchange Rate Impact
As the Naira continues to fluctuate in value against international currencies, the cost of importing luxury cars like the Lexus 570 increases. The exchange rate often dictates how much dealers in Nigeria pay for these vehicles, and that cost is transferred to the buyer.
Is the Lexus 570 Worth the Price?
The Lexus 570 offers an unparalleled combination of luxury, performance, and durability, making it an excellent investment for those who can afford it. Here are some reasons why many Nigerians find it worth the price:
Luxury and Comfort
The Lexus 570 boasts a spacious interior, premium upholstery, and advanced technology that make long drives comfortable. Whether you’re driving through the city or on rough roads, the ride quality remains smooth.
Reliability
Lexus is known for building reliable vehicles, and the 570 is no exception. It’s a rugged SUV that performs well on Nigerian roads, including rough and uneven terrains, making it perfect for both city driving and off-road adventures.
Strong Resale Value
Due to its reputation for reliability and luxury, the Lexus 570 tends to retain its value well. When maintained properly, it can be sold at a reasonable price even years after purchase, ensuring a good return on investment.
Conclusion
The Lexus 570 remains one of the most desirable luxury SUVs in Nigeria. Whether you’re opting for a brand new model or a used Lexus 570, the vehicle offers an impressive combination of performance, comfort, and advanced features. The price may vary based on factors such as import duties, vehicle condition, and model year, but with the right information, you can make an informed decision and enjoy the exceptional driving experience that only the Lexus 570 can provide.
Emmanuel