Are you in the market to buy (or sell) a Fiat 4x4 in Ibadan? Vehiclus studied the local used auto market of all metropolitan areas in Nigeria to establish a pricing profile of various Fiat models depending on their age, technical condition, optical condition, and mileage. If you want to maximize your earnings when selling your 4x4 (or to be certain to not be ripped off when buying a Fiat 4x4) it is of value to learn all price-determining factors.
Ibadan is a town with currently 3565108 inhabitants. Nevertheless, it is hard to find more than a handful Fiat 4x4 on the market . Hence, the supply is little and the demand depends on various of parameters for example maintenance costs, brand popularity, and brand competetivness.
As described in the figure below, cars of the manufacturer Fiat and specially of the model 4x4 depreciate in a very usual manner. The mean asking price of the 4x4 will be decreased by up to 13% ($22,305) after just one year. After three years, the car usually costs only 64% of its original selling price ($15,750) while it will only be valued at 32% of the original price after 7 years ($7,190). The 4x4's value after twelve years is only 10% of its initial price depending on its condition of course.
Another way to analyze car depreciation is to look at the decrease of value vs kilometers driven. The Fiat 4x4 depreciation curve below shows this phenomenon for Ibadan. The 4x4 looses most of its value (~ 47%) within the first 30k km driven. The typical price for a 4x4 at that mileage is approximately $14,342. After that the devaluation slows down: at 90k kilometers the Fiat 4x4 is sold for $8,044 in Ibadan and for $4,108 at 180,000km driven.
The last value that heavily determines the price of a used car is the technical and optical condition of the vehicle. The table below lists the devaluation of a Fiat 4x4 according to its year and its condition.
|Vehicle Year||Fiat 4x4 Condition|
|Fiat 4x4 variations:|
|4x4 Cross 1.3 Multijet 16V|