Are you looking to buy (or sell) a BMW X6 in Ibadan? Vehiclus studied the used auto market of all towns in Nigeria to establish a pricing profile of various BMW models depending on their age, technical condition, optical condition, and mileage. To optimize your earnings when selling your X6 (or to make sure to not be overcharged when buying a BMW X6) it is a good idea to learn all price-establishing factors.
Ibadan is a town with currently 3565108 inhabitants. Nevertheless, it is hard to find more than three BMW X6 on the used car market . Hence, the supply is small and the demand depends on various of parameters such as brand reputation, brand popularity, and reliability.
As illustrated in the figure below, cars of the make BMW and especially of their model X6 depreciate in a very average process. The mean value of the X6 will be decreased by up to 13% ($52,316) after only 1 year. After 3 years, the car typically is sold for approximately 62% of its initial asking price ($36,834) while it will only be valued at 29% of the original price after 7 years ($17,093). The X6's value after 12 years is only 11% of its first price depending on its condition of course.
Another way to quantify car depreciation is to examine the decrease of value vs miles driven. The BMW X6 depreciation curve below shows this phenomenon for Ibadan. The X6 looses most of its value (ca 46%) within the first 30k kilometers of its mileage. The average price for a X6 at that usage level is $33,782. After that the depreciation slows down: at 90,000km the BMW X6 is priced for $18,898 in Ibadan and for $9,919 at 180k km driven.
The last value that significantly determines the price of a used car is the technical and optical condition of the vehicle. The table below lists the deflation of a BMW X6 according to its year and its condition.
|Vehicle Year||BMW X6 Condition|
|BMW X6 variations:|