Are you currently looking to buy (or sell) a Chevrolet Alero in Ibadan? Vehiclus analyzed the used car market of all metropolitan areas in Nigeria to establish a pricing profile of various Chevrolet models depending on their age, technical condition, optical condition, and mileage. If you want to maximize your profits when selling your Alero (or to be certain to not be ripped off when purchasing a Chevrolet Alero) it is of value to understand most price-determining variables.
Ibadan is a metropolitan area with 3565108 inhabitants. However, there are usually not many Chevrolet Alero for purchase on the market. That's why the supply is little and the demand depends on various of parameters such as car model reputation, brand popularity, and used car pricing.
As illustrated in the figure below, cars of the manufacturer Chevrolet and specially of the model Alero depreciate in a very predictable way. The average value of the Alero will be decreased by 13% ($28,479) after only 1 year. After 3 years, the car typically is sold for approximately 63% of its original selling price ($20,650) while it will only be valued at 29% of the original price after 7 years ($9,220). The Alero's value after twelve years is only 12% of its original price depending on its condition of course.
One more way to describe vehicle depreciation is to study the decrease of value over miles driven. The Chevrolet Alero depreciation curve below shows this phenomenon for the city of Ibadan. The Alero looses most of its resell price (~ 46%) within the first 30,000km of its mileage. The average price for a Alero at that usage level is ca $18,384. After that the depreciation plateaus: at 90k kilometers the Chevrolet Alero is valued for $10,881 in Ibadan and for $5,312 at 180k kilometers of mileage.
The last value that heavily impacts the sell price of a used car is the technical and optical condition of the vehicle. The table below shows the devaluation of a Chevrolet Alero according to its year and its condition.
|Vehicle Year||Chevrolet Alero Condition|
|Chevrolet Alero variations:|
|ALERO V6 3.4L BVA|
|ALERO 2.4L BVA|