Are you in the market to buy (or sell) a Honda Cr-Z in Ibadan? Vehiclus studied the local used auto market of all metropolitan areas in Nigeria to determine a pricing profile of various Honda models depending on their age, technical condition, optical condition, and mileage. In order to maximize your profits when selling your Cr-Z (or to be certain to not be overcharged when buying a Honda Cr-Z) it is of value to know most price-establishing variables.
Ibadan is a city with currently 3565108 inhabitants. Nevertheless, it is hard to find more than three Honda Cr-Z on the used car market at the same time. Therefore, the supply is low and the demand depends on various of factors such as maintenance costs, brand popularity, and reliability.
As shown below, cars of the manufacturer Honda and especially of the model Cr-Z depreciate in a very customary process. The average value of the Cr-Z will be lowered by 13% ($21,814) after only 1 year. After 3 years, the car usually costs only 64% of its original asking price ($15,970) while it will only be worth 28% of the original price after 7 years ($6,974). The Cr-Z's value after 12 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 decrease of value vs mileage. The Honda Cr-Z depreciation curve below illustrates this phenomenon for the city of Ibadan. The Cr-Z looses most of its value (~ 46%) within the first 20,000miles (30,000km) of its mileage. The average price for a Cr-Z at that mileage is approximately $13,864. After that the devaluation slows down: at 90,000km the Honda Cr-Z is sold for $8,276 in Ibadan and for $3,896 at 180k km driven.
The last parameter that significantly influences the price of a used car is the technical and optical condition of the vehicle. The table below illustrates the devaluation of a Honda Cr-Z according to its year and its condition.
|Vehicle Year||Honda Cr-Z Condition|
|Honda Cr-Z variations:|