Are you looking to buy (or sell) a BMW 523i in Ibadan? Vehiclus analyzed the used auto market of all towns in Nigeria to determine a pricing profile of various BMW models depending on their age, technical condition, optical condition, and mileage. In order to maximize your earnings when selling your 523i (or to make sure to not overpay when buying a BMW 523i) it is recommended to know all value-determining variables.
Ibadan is a town with a current population of 3565108 people. However, there are usually not many BMW 523i for purchase on the market. Hence, the supply is low and the demand depends on a multitude of factors for example season, fuel mileage, and reliability.
As illustrated in the figure below, cars of the car manufacturer BMW and specially of the model 523i depreciate in a very customary way. The average value of the 523i will be lowered by 13% ($48,054) after just 1 year. After 3 years, the car typically is valued at 63% of its initial selling price ($35,298) while it will only be priced at 27% of the original price after 7 years ($14,813). The 523i's value after 12 years is only 10% of its initial price depending on its condition of course.
One more way to describe car depreciation is to study the loss of value over miles driven. The BMW 523i depreciation curve below shows this phenomenon for Ibadan. The 523i looses most of its resell price (approximately 46%) within the first 30k kilometers driven. The mean price for a 523i at that usage level is approximately $30,588. After that the devaluation plateaus: at 90,000km the BMW 523i is priced for $18,394 in Ibadan and for $8,052 at 180k km of mileage.
The last value that heavily influences the price of a used car is the technical and optical condition of the vehicle. The table below lists the deflation of a BMW 523i according to its year and its condition.
|Vehicle Year||BMW 523i Condition|
|BMW 523i variations:|