Are you currently looking to buy (or sell) a BMW 650i in Ibadan? Vehiclus analyzed the local used auto market of all metropolitan areas in Nigeria to determine a pricing profile of various BMW models depending on their age, technical condition, optical condition, and mileage. If you want to maximize your profits when selling your 650i (or to make sure to not be overcharged when buying a BMW 650i) it is useful to know all price-establishing variables.
Ibadan is a metropolitan area with 3565108 inhabitants. Nevertheless, there are usually not many BMW 650i for purchase on the market. That's why the supply is small and the demand depends on various of parameters e.g. maintenance costs, mileage, and used car pricing.
As described in the figure below, cars of the manufacturer BMW and specially of their model 650i depreciate in a very predictable manner. The mean selling price of the 650i will be lowered by up to 14% ($66,543) after just 1 year. After three years, the car typically is valued at 61% of its original asking price ($48,279) while it will only be valued at 31% of the MSRP after 7 years ($22,702). The 650i's value after twelve years is only 11% of its original price depending on its condition of course.
One more way to quantify car depreciation is to study the loss of value over mileage. The BMW 650i depreciation curve below describes this phenomenon for Ibadan. The 650i looses most of its value (approximately 46%) within the first 30k km of its mileage. The average price for a 650i at that usage level is $42,841. After that the depreciation plateaus: at 90k km the BMW 650i is sold for $25,342 in Ibadan and for $13,527 at 180k kilometers of mileage.
The last parameter that significantly effects the price of a second-hand car is the technical and optical condition of the vehicle. The table below shows the devaluation of a BMW 650i according to its year and its condition.
|Vehicle Year||BMW 650i Condition|
|BMW 650i variations:|
|650i CABRIOLET BVA|
|650i COUPE BVA|