Are you currently in the market to buy (or sell) a BMW 320i in Ibadan? Vehiclus analyzed the local used auto market of all cities in Nigeria to determine a pricing profile of various BMW models depending on their age, technical condition, optical condition, and mileage. To optimize your earnings when selling your 320i (or to be sure to not overpay when purchasing a BMW 320i) it is useful to know most price-establishing variables.
Ibadan is a town with a current population of 3565108 inhabitants. Nevertheless, there are not many BMW 320i for sale on the market. Hence, the supply is low and the demand depends on a multitude of parameters such as season, fuel mileage, and brand competetivness.
As described in the figure below, cars of the manufacturer BMW and specially of their model 320i depreciate in a very standard fashion. The average asking price of the 320i will be lowered by up to 13% ($34,044) after just 1 year. After three years, the car typically is valued at 64% of its original selling price ($25,080) while it will only be worth 27% of the MSRP after 7 years ($10,930). The 320i's value after twelve years is only 13% of its initial price depending on its condition of course.
Another way to describe car depreciation is to look at the loss of value vs miles driven. The BMW 320i depreciation curve below describes this phenomenon for the city of Ibadan. The 320i looses most of its resell price (approximately 47%) within the first 20,000miles (30,000km) of its mileage. The typical price for a 320i at that usage level is ca $22,061. After that the devaluation slows down: at 90k kilometers the BMW 320i is valued for $13,483 in Ibadan and for $6,291 at 180k km .
The last value that heavily determines the price of a second-hand car is the technical and optical condition of the vehicle. The table below lists the devaluation of a BMW 320i according to its year and its condition.
|Vehicle Year||BMW 320i Condition|
|BMW 320i variations:|
|320i TOURING BVA|
|320i BERLINE BVA|