The values vehicles bring to various households and businesses in modern-day Nigeria cannot be overemphasized. On the one hand, it may serve as a luxury, on the other hand, it is required to facilitate everyday life, activities, and business calls. Though the cost of acquisition of these valuable assets remains exorbitant, a few individuals worked hard for years to save up money; some organizations, even with their financial capacities, make periodic provisions and secure approvals to purchase new vehicles or replace the old ones. However, the unpredictable nature of the roads, accidents, thef…