Are you looking to buy (or sell) a Cadillac XLR in Ibadan? Vehiclus analyzed the used automotive market of all cities in Nigeria to establish a pricing profile of various Cadillac models depending on their age, technical condition, optical condition, and mileage. In order to optimize your earnings when selling your XLR (or to make sure to not be overcharged when buying a Cadillac XLR) it is of value to understand all price-determining factors.
Ibadan is a metropolitan area with a current population of 3565108 people. However, it is hard to find more than a dozen Cadillac XLR on the local car market at the same time. That's why the supply is low and the demand depends on a multitude of parameters for example brand reputation, fuel mileage, and used car pricing.
As described in the figure below, cars of the make Cadillac and specially of their model XLR depreciate in a very conventional manner. The mean value of the XLR will be decreased by up to 13% ($25,454) after just 1 year. After 3 years, the car usually goes for only 63% of its original asking price ($19,000) while it will only be priced at 32% of the original price after 7 years ($8,288). The XLR's value after 12 years is only 11% of its initial price depending on its condition of course.
Another way to describe car depreciation is to look at the loss of value over kilometers driven. The Cadillac XLR depreciation curve below describes this phenomenon for Ibadan. The XLR looses most of its value (~ 47%) within the first 30,000km driven. The typical price for a XLR at that mileage is ca $16,289. After that the devaluation slows down: at 90,000km the Cadillac XLR is priced for $10,130 in Ibadan and for $4,740 at 180k kilometers .
The last factor that heavily influences the price of a used car is the technical and optical condition of the vehicle. The table below lists the devaluation of a Cadillac XLR according to its year and its condition.
|Vehicle Year||Cadillac XLR Condition|
|Cadillac XLR variations:|
|XLR 4.6L V8 BVA|