Are you in the market to buy (or sell) a BMW Z3 in Ibadan? Vehiclus surveyed the used automotive market of all cities in Nigeria to establish a pricing profile of various BMW models depending on their age, technical condition, optical condition, and mileage. If you want to optimize your profits when selling your Z3 (or to be certain to not overpay when purchasing a BMW Z3) it is recommended to know all price-determining factors.
Ibadan is a town with 3565108 inhabitants. However, it is hard to find more than a dozen BMW Z3 on the used car market . Hence, the supply is low and the demand depends on various of parameters for example maintenance costs, brand popularity, and brand competetivness.
As pictured below, cars of the make BMW and especially of their model Z3 depreciate in a very customary way. The average value of the Z3 will be lowered by 14% ($37,280) after just 1 year. After 3 years, the car usually goes for only 64% of its initial selling price ($27,435) while it will only be worth 30% of the original price after 7 years ($12,193). The Z3's value after twelve years is only 12% of its initial price depending on its condition of course.
One more way to analyze car depreciation is to look at the loss of value over kilometers driven. The BMW Z3 depreciation curve below describes this phenomenon for the city of Ibadan. The Z3 looses most of its value (ca 46%) within the first 30k km of its mileage. The mean price for a Z3 at that mileage is ca $23,901. After that the depreciation plateaus: at 90k kilometers the BMW Z3 is valued for $14,488 in Ibadan and for $7,014 at 180k km of mileage.
The last parameter that significantly effects the selling price of a second-hand car is the technical and optical condition of the vehicle. The table below shows the devaluation of a BMW Z3 according to its year and its condition.
|Vehicle Year||BMW Z3 Condition|
|BMW Z3 variations:|
|Z3 2.2i ROADSTER BVA|
|Z3 3.0i ROADSTER BVA|
|Z3 2.2i ROADSTER|
|Z3 3.0i ROADSTER|
|Z3 1.9i ROADSTER|