Are you currently in the market to buy (or sell) a Fiat Freemont in Ibadan? Vehiclus analyzed the local used automotive market of all metropolitan areas in Nigeria to determine a pricing profile of various Fiat models depending on their age, technical condition, optical condition, and mileage. To optimize your profits when selling your Freemont (or to make sure to not overpay when buying a Fiat Freemont) it is useful to learn most value-determining factors.
Ibadan is a city with currently 3565108 inhabitants. However, it is hard to find more than a dozen Fiat Freemont on the car market . Hence, the supply is small and the demand depends on a multitude of factors e.g. brand reputation, brand popularity, and used car pricing.
As described in the figure below, cars of the make Fiat and specially of their model Freemont devaluate in a very predictable way. The mean asking price of the Freemont will be decreased by 13% ($14,314) after only 1 year. After three years, the car usually costs only 64% of its original selling price ($10,076) while it will only be priced at 30% of the MSRP after 7 years ($4,603). The Freemont's value after twelve years is only 10% of its initial price depending on its condition of course.
Another way to quantify vehicle depreciation is to look at the loss of value over miles driven. The Fiat Freemont depreciation curve below describes this phenomenon for Ibadan. The Freemont looses most of its value (ca 47%) within the first 20,000miles (30,000km) driven. The average price for a Freemont at that mileage is ca $9,211. After that the devaluation plateaus: at 90,000km the Fiat Freemont is sold for $5,138 in Ibadan and for $2,628 at 180k kilometers driven.
The last factor that significantly determines the price of a second-hand car is the technical and optical condition of the vehicle. The table below shows the deflation of a Fiat Freemont according to its year and its condition.
|Vehicle Year||Fiat Freemont Condition|
|Fiat Freemont variations:|