Business

5 Affordable Cars That Stand the Test of Time

Published

4 months ago

June 25, 2024 12:52 pm

BodexNG

With most purchases, there’s typically a tradeoff between affordability and durability.

Inexpensive usually means cheap because things that don’t cost a lot aren’t usually built to last — especially when they generate extreme temperatures and have thousands of moving parts.

But that’s not always the case with cars. In fact, some of the most affordable vehicles on the road are built to outlast many more expensive models.

The following vehicles are budget-friendly and can stand the test of time.

Toyota Corolla

When searching for affordability and reliability in the same vehicle, sometimes it’s best to follow the crowd.

“The Toyota Corolla is one of the best-selling entry-level vehicles,” said automotive expert, consultant and speaker Gretchen Seidel, who has 30 years of industry experience.

In fact, topping 50 million units sold in 2021, it is the best-selling car of all time. There are three main reasons for the Corolla’s enduring popularity: it starts at just over $22,000, has low ownership costs and boasts a tortoise-esque life expectancy of up to 300,000 miles.

“Its fuel efficiency is above 38 mpg and maintenance costs are lower than the average for compact cars,” said Seidel. “Toyota also leads with 11.1 million units of global sales, more than any other car company for 2023.”

Honda Civic

The Corolla’s chief competitor is wildly popular for all the same reasons.

“The Honda Civic is a great choice for an affordable car, with a starting MSRP of $23,950 and annual repair costs lower than most brands,” said Seidel.

RepairPal gives it an excellent 4.5-star rating and ranks it No. 3 out of 36 compact cars for ownership costs, the segment average of which is $526.

The publication writes, “The average annual repair cost is $368, which means it has excellent ownership costs. The severity and frequency of repairs are both much lower than other vehicles, so the Civic is one of the more reliable vehicles on the road.”

Seidel added, “Also, in dealership service departments, you regularly see them with well over 150,000 miles and over 10 years old. The Honda Civic is a great choice for a car that stands the test of time.”

Mazda 3

Also starting at under $25,000 — $24,170, to be exact — is the Mazda 3, which joins the Civic and Corolla in the class of dependable, affordable sedans.

“These vehicles are known for their reliability, fuel efficiency and low maintenance costs, making them excellent value propositions in the long run,” said John Lin, owner of JB Motor Works in Philadelphia.

RepairPal gives it a four-star rating and writes, “The average annual repair cost is $433, which means it has excellent ownership costs. The severity of repairs is low while the frequency of those issues is average, so major issues are uncommon for the 3.”

“They also tend to hold their resale value well, which can save owners money when it’s time to sell or trade in,” said Lin.

CoPilot for Car Shopping estimates that, with basic maintenance and care, the typical Mazda 3 will keep plugging along for 200,000 to 300,000 miles.

Hyundai Elantra

Several experts concurred that the Hyundai Elantra is another excellent choice for anyone looking for the magic formula of cheap to buy and cheap to own over the long haul.

A sleek, flashy and tech-centric sedan, the Elantra starts at just $21,625, giving it the lowest MSRP of any car on this list — and like the others, it won’t break the bank over time.

RepairPal gives it a stellar 4.5-star rating and estimates its “excellent ownership costs” at just $452 per year, well under the segment average of $526, adding, “The severity and frequency of repairs are both much lower than other vehicles, so the Elantra is one of the more reliable vehicles on the road.”

CoPilot for Car Shopping says the typical Elantra has a lifespan of 150,000 to 200,000 miles.

Honda Odyssey

Families that can’t squeeze into sedans are going to have to spend more for something bigger. The two biggest names in minivans are the Chrysler Pacifica, which starts at $39,400, and the Honda Odyssey, which starts at nearly $1,200 less.

There are cheaper minivans, but none that you should expect to hold out for more miles or guard their value more jealously.

“The Odyssey tends to last longer than the competition and depreciates more slowly than other minivans,” said Melanie Musson, an industry expert with AutoInsurance.org.

“They’re also regularly named the cheapest vehicle to insure. That’s partly due to their safety features and partly due to how they tend to be driven.”

If you can’t afford to buy new, what would be a high-mileage model for most previously owned vehicles is actually modest mileage for this marathoning minivan.

“Individuals on a tight budget can look for a used Odyssey with 100,000 miles and expect to drive it for several years with minimal maintenance,” said Musson.

That’s not an exaggeration.

Vehicle History states, “Across all generations, the Honda Odyssey has an expected lifespan of 200,000 to 300,000 miles, or 16 to 25 years.

Business

Air Peace to increase fares on local routes by November 1

Published

6 hours ago

October 25, 2024 12:45 pm

BodexNG

Air Peace, Nigeria’s flag carrier, says it will increase airfares on local routes from November 1.

According to an internal memo, seen by TheCable, the airline said it would increase fares on the route by 100 percent.

“Please be informed that effective 1st November 2024, Air Peace would be adding a 100% increase to their fares across all local routes,” the circular reads.

“Kindly reach out to your dedicated consultant for further support.”

According to a source at the airline who preferred anonymity, the memo was a leak that was sent to private partners.

“It was a leak from someone. It was shared to someone and the person leaked it online. The issue is being treated internally,” the source said.

TheCable has reached out to the corporate communications department of Air Peace for clarification.

The airline commenced its international flight on March 30, from Lagos to Gatwick Airport in London.

Business

No deadline on circulation of old naira notes, says CBN

Published

8 hours ago

October 25, 2024 10:40 am

BodexNG

The Central Bank of Nigeria (CBN) says Nigerians should disregard claims that the old naira notes will cease to be legal tender on December 31, 2024.

In a statement on X on Thursday, Sidi Ali, Hakama, acting director, corporate communications, said the old series of N200, N500, and N1,000 banknotes will remain legal tender as ordered by the supreme court on November 29, 2023.

Earlier, the house of representatives said December 31, 2024, was the deadline for old naira notes to cease being legal tender.

However, CBN said its directive to all its branches to continue to issue and accept all banknotes — old and re-designed — to and from banks remains in force.

“The attention of the Central Bank of Nigeria (CBN) has been drawn to discussions at different
fora suggesting that the old series of the N200, N500, and N1,000 banknotes shall cease to be legal tender on December 31, 2024. We wish to state categorically that such claims are false and calculated to disrupt the country’s payment system,” CBN said.

“For the avoidance of doubt, the order of the Supreme Court of Nigeria on Wednesday, November 29, 2023, granting the prayer of the Attorney-General of the Federation and Minister of Justice to extend the use of old Naira banknotes ad infinitum, subsists.

“Similarly, the CBN’s directive to all its branches to continue to issue and accept all denominations of Nigerian banknotes, old and re-designed, to and from deposit money banks (DMBs) remains in force.

“It will be recalled that the Supreme Court ordered that the old series of N200, N500, and N1,000 banknotes shall continue to be legal tender alongside the redesigned versions. Accordingly, all banknotes issued by the Central Bank of Nigeria (CBN) will continue to remain legal tender indefinitely.”

CBN advised Nigerians to continue to accept all naira banknotes — old or redesigned — for their day-to-day transactions.

“We, therefore, advise members of the public to disregard suggestions that the said series of banknotes will cease to be legal tender on December 31, 2024,” the apex bank said.

“We urge Nigerians to continue to accept all Naira banknotes (old or redesigned) for their day-to-day transactions and handle them with the utmost care to safeguard and protect their lifecycle.”

CBN further urged the general public to embrace alternative modes of payment, e-channels, to reduce pressure on the use of physical cash.

Business

Petrol tanker drivers threaten strike over seizure of two diesel trucks by police

Published

10 hours ago

October 25, 2024 9:11 am

BodexNG

The Petroleum Tanker Drivers (PTD) branch of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has threatened to embark on a strike over the seizure of two trucks laden with automotive gas oil (AGO).

PTD said the trucks carrying AGO, popularly known as diesel, were allegedly seized in July by a task force setup by Kayode Egbetokun, inspector-general of police (IGP).

If the union embarks on a strike, it could affect the supply of petroleum products across the country.

In a statement on Thursday, Augustine Egbon, PTD’s national chair, said though samples of the products from the two trucks have been certified by the Nigerian Midstream and Downstream Products Regulatory Authority (NMDPRA), the tankers have not been released.

“The truck with registration number, GRY 155XA loaded 49,000 litres of AGO at Prudent Energy Limited in Oghara, Delta state,” Egbon said.

“The destination was Sokoto but it was impounded in Funtua, Katsina, State on July 31, 2024.

“The second truck with registration number, TWD272XA, with 45,000 litres of AGO loaded the products at Integrated Oil and Gas in Apapa, Lagos.

“Its destination was Yobe State before it was impounded in August in Abuja.

“We have presented authentic documents to the police that the products were genuine and the point of loading. The IGP office has continued to ignore us.

“At our last NEC meeting, we issued a deadline to them, demanding for the release of the impounded trucks and a stoppage to the continued harassment of our members.

“We have been making our contributions to assist the federal government in its genuine efforts to make petroleum products available and ease the sufferings of Nigerians.

“It is unfortunate that the office of the IGP is unmindful of the threat that the excesses of its men constitute to the federal government determined efforts to promote effective distribution of petroleum products and peace in the industry.

“We are giving another two weeks’ notice.”

The PTD chair said if the police fail to release the trucks within the ultimatum they have given, tanker drivers would not lift products from the depots.

Muyiwa Adejobi, police spokesperson, has been contacted for comments.

Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others