Are you currently in the market to buy (or sell) a BMW 520d in Ibadan? Vehiclus studied the local used car market of all metropolitan areas in Nigeria to establish a pricing profile of various BMW models depending on their age, technical condition, optical condition, and mileage. To maximize your profits when selling your 520d (or to be certain to not be overcharged when buying a BMW 520d) it is of value to understand all price-establishing variables.
Ibadan is a city with a population of 3565108 . However, it is hard to find more than a dozen BMW 520d on the used car market . Hence, the supply is low and the demand depends on various of factors such as season, fuel mileage, and brand competetivness.
As pictured below, cars of the manufacturer BMW and specially of their model 520d devaluate in a very normal fashion. The average value of the 520d will be decreased by 13% ($43,835) after just one year. After 3 years, the car usually goes for only 62% of its original selling price ($30,797) while it will only be priced at 29% of the original price after 7 years ($14,798). The 520d's value after 12 years is only 11% of its initial price depending on its condition of course.
Another way to analyze vehicle depreciation is to examine the loss of value over kilometers driven. The BMW 520d depreciation curve below describes this phenomenon for the city of Ibadan. The 520d looses most of its value (~ 50%) within the first 30k kilometers driven. The average price for a 520d at that mileage is approximately $28,401. After that the devaluation plateaus: at 90k kilometers the BMW 520d is priced for $15,862 in Ibadan and for $8,823 at 180,000km .
The last value that significantly effects the sell price of a used car is the technical and optical condition of the vehicle. The table below illustrates the deflation of a BMW 520d according to its year and its condition.
|Vehicle Year||BMW 520d Condition|
|BMW 520d variations:|
|520d TOURING BVA|
|520d BERLINE BVA|