Are you looking to buy (or sell) a Daewoo Rexton in Ibadan? Vehiclus surveyed the local used auto market of all cities in Nigeria to establish a pricing profile of various Daewoo models depending on their age, technical condition, optical condition, and mileage. If you want to optimize your earnings when selling your Rexton (or to be certain to not be overcharged when purchasing a Daewoo Rexton) it is a good idea to understand most price-establishing factors.
Ibadan is a town with currently 3565108 inhabitants. However, there are not many Daewoo Rexton available on the market. Therefore, the supply is low and the demand depends on various of parameters such as car model reputation, mileage, and reliability.
As pictured below, cars of the make Daewoo and especially of their model Rexton loose their value in a very standard process. The average value of the Rexton will be decreased by 13% ($15,966) after only 1 year. After three years, the car usually is sold for approximately 63% of its initial selling price ($11,593) while it will only be valued at 30% of the MSRP after 7 years ($5,136). The Rexton's value after 12 years is only 13% of its initial price depending on its condition of course.
Another way to quantify car depreciation is to look at the loss of value over kilometers driven. The Daewoo Rexton depreciation curve below shows this phenomenon for the city of Ibadan. The Rexton looses most of its value (~ 47%) within the first 20,000miles (30,000km) driven. The typical price for a Rexton at that usage level is $10,244. After that the depreciation slows down: at 90k km the Daewoo Rexton is priced for $6,056 in Ibadan and for $2,921 at 180k km of mileage.
The last value that heavily determines the sell price of a second-hand car is the technical and optical condition of the vehicle. The table below illustrates the devaluation of a Daewoo Rexton according to its year and its condition.
|Vehicle Year||Daewoo Rexton Condition|
|Daewoo Rexton variations:|
|REXTON RX290 / RX290 PACK BVA|
|REXTON RX290 / RX290 PACK|
|REXTON RX320 BVA|