Are you currently in the market to buy (or sell) a Daewoo Rezzo in Ibadan? Vehiclus surveyed the used car market of all metropolitan areas in Nigeria to establish a pricing profile of various Daewoo models depending on their age, technical condition, optical condition, and mileage. In order to maximize your profits when selling your Rezzo (or to be certain to not be ripped off when purchasing a Daewoo Rezzo) it is a good idea to learn all value-determining factors.
Ibadan is a town with 3565108 inhabitants. However, it is hard to find more than three Daewoo Rezzo on the used car market at the same time. That's why the supply is low and the demand depends on various of factors e.g. maintenance costs, fuel mileage, and brand competetivness.
As illustrated in the figure below, cars of the manufacturer Daewoo and especially of their model Rezzo depreciate in a very predictable way. The average asking price of the Rezzo will be decreased by 14% ($14,136) after only 1 year. After three years, the car usually goes for only 63% of its original asking price ($10,113) while it will only be priced at 27% of the original price after 7 years ($4,601). The Rezzo's value after 12 years is only 10% of its first price depending on its condition of course.
Another way to describe vehicle depreciation is to look at the loss of value over mileage. The Daewoo Rezzo depreciation curve below describes this phenomenon for the city of Ibadan. The Rezzo looses most of its resell price (ca 45%) within the first 30k km driven. The mean price for a Rezzo at that mileage is approximately $9,034. After that the devaluation slows down: at 90,000km the Daewoo Rezzo is valued for $5,176 in Ibadan and for $2,627 at 180,000km driven.
The last parameter that significantly influences the selling price of a second-hand car is the technical and optical condition of the vehicle. The table below lists the deflation of a Daewoo Rezzo according to its year and its condition.
|Vehicle Year||Daewoo Rezzo Condition|
|Daewoo Rezzo variations:|
|REZZO 2.0L CDX|
|REZZO CDX BVA|
|REZZO 2.0L CDX BVA|
|REZZO 1.6L SX|
|REZZO 1.8L SX|