Should an Estate Developer Borrow ₦16 Million for a Luxury Car to Attract Clients?

Yesterday, my childhood friend, an estate developer, told me about his plans, and I’m still trying to make sense of them. He has gradually built his business. After buying a Corolla in 2021, he upgraded to a Camry in 2023 because he felt clients and colleagues did not take him seriously without a better car. He now has ₦12 million and wants to buy a house for ₦14 million, spend ₦6 million renovating it, and sell it for at least ₦32 million. He plans to borrow the remaining ₦8 million for the project. At the same time, he wants to buy a Venza or Lexus on installment. The dealer is asking ₦11 million, plus ₦5 million in interest over a year—about ₦1.35 million per month. He believes the car will help him attract clients and earn the money back within four months. For those in real estate, can a more expensive car really help bring in enough business to justify that kind of debt?

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