Are you in the market to buy (or sell) a Honda NSX 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. In order to maximize your earnings when selling your NSX (or to make sure to not be ripped off when purchasing a Honda NSX) it is a good idea to know all price-determining factors.
Ibadan is a metropolitan area with a population of 3565108 inhabitants. However, it is hard to find more than a handful Honda NSX on the market at the same time. Hence, the supply is small and the demand depends on a multitude of parameters for example brand reputation, mileage, and reliability.
As seen below, cars of the make Honda and specially of their model NSX devaluate in a very usual process. The mean value of the NSX will be lowered by 13% ($21,563) after only one year. After three years, the car typically costs only 64% of its original asking price ($15,443) while it will only be worth 30% of the original price after 7 years ($6,166). The NSX's value after 12 years is only 12% of its original price depending on its condition of course.
Another way to analyze vehicle depreciation is to examine the decrease of value over kilometers driven. The Honda NSX depreciation curve below illustrates this phenomenon for the city of Ibadan. The NSX looses most of its resell price (ca 50%) within the first 20,000miles (30,000km) driven. The typical price for a NSX at that mileage is approximately $13,947. After that the depreciation slows down: at 90k kilometers the Honda NSX is sold for $8,074 in Ibadan and for $3,219 at 180k km of mileage.
The last value that significantly impacts the sell price of a second-hand car is the technical and optical condition of the vehicle. The table below shows the deflation of a Honda NSX according to its year and its condition.
|Vehicle Year||Honda NSX Condition|
|Honda NSX variations:|
|NSX 3.2 V6 COUPE|
|NSX 3.2 V6 OPEN TOP|