Are you in the market to buy (or sell) a Honda Hr-V in Ibadan? Vehiclus studied the 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. If you want to maximize your earnings when selling your Hr-V (or to make sure to not overpay when buying a Honda Hr-V) it is of value to know most value-determining variables.
Ibadan is a town with a current population of 3565108 . However, it is hard to find more than a handful Honda Hr-V on the used car market at the same time. Hence, the supply is low and the demand depends on various of parameters for example maintenance costs, brand popularity, and used car pricing.
As described in the figure below, cars of the car manufacturer Honda and especially of their model Hr-V devaluate in a very average process. The average price of the Hr-V will be lowered by 14% ($23,399) after just 1 year. After three years, the car typically is valued at 61% of its original asking price ($16,699) while it will only be worth 28% of the original price after 7 years ($7,365). The Hr-V's value after 12 years is only 12% of its original price depending on its condition of course.
Another way to describe vehicle depreciation is to look at the decrease of value over miles driven. The Honda Hr-V depreciation curve below illustrates this phenomenon for the city of Ibadan. The Hr-V looses most of its resell price (ca 47%) within the first 30,000km driven. The average price for a Hr-V at that usage level is approximately $15,061. After that the depreciation plateaus: at 90k kilometers the Honda Hr-V is valued for $8,629 in Ibadan and for $4,137 at 180k kilometers .
The last value that heavily determines the sell price of a used car is the technical and optical condition of the vehicle. The table below shows the deflation of a Honda Hr-V according to its year and its condition.
|Vehicle Year||Honda Hr-V Condition|
|Honda Hr-V variations:|
|HR-V 3P 1.6 SPORT|
|HR-V 3P 1.6 REAL TIME SPORT VTEC|
|HR-V 5P 1.6 SPORT|
|HR-V 3P 1.6 REAL TIME SPORT BVA|
|HR-V 3P 1.6 REAL TIME SPORT|
|HR-V 5P 1.6 REAL TIME SPORT VTEC|