Are you looking to buy (or sell) a Chevrolet Trax in Ibadan? Vehiclus analyzed the local used auto market of all cities in Nigeria to determine a pricing profile of various Chevrolet models depending on their age, technical condition, optical condition, and mileage. To maximize your earnings when selling your Trax (or to be certain to not be overcharged when buying a Chevrolet Trax) it is of value to understand most price-establishing factors.
Ibadan is a town with currently 3565108 inhabitants. However, it is hard to find more than a dozen Chevrolet Trax on the local car market at the same time. Hence, the supply is little and the demand depends on a multitude of parameters such as maintenance costs, brand popularity, and used car pricing.
As illustrated in the figure below, cars of the manufacturer Chevrolet and especially of the model Trax depreciate in a very usual process. The mean selling price of the Trax will be decreased by 14% ($24,619) after only one year. After three years, the car usually goes for only 63% of its original asking price ($18,253) while it will only be priced at 31% of the original price after 7 years ($7,530). The Trax's value after twelve years is only 11% of its initial price depending on its condition of course.
One more way to describe car depreciation is to study the loss of value vs kilometers driven. The Chevrolet Trax depreciation curve below shows this phenomenon for Ibadan. The Trax looses most of its value (approximately 46%) within the first 30k kilometers of its mileage. The mean price for a Trax at that mileage is $15,764. After that the devaluation plateaus: at 90k kilometers the Chevrolet Trax is valued for $9,683 in Ibadan and for $4,103 at 180k kilometers of mileage.
The last value that significantly effects the price of a second-hand car is the technical and optical condition of the vehicle. The table below describes the devaluation of a Chevrolet Trax according to its year and its condition.
|Vehicle Year||Chevrolet Trax Condition|
|Chevrolet Trax variations:|