Are you currently in the market to buy (or sell) a Honda Stream in Ibadan? Vehiclus analyzed the used car market of all towns in Nigeria to determine a pricing profile of various Honda models depending on their age, technical condition, optical condition, and mileage. To maximize your profits when selling your Stream (or to be sure to not overpay when purchasing a Honda Stream) it is of value to know all price-determining variables.
Ibadan is a town with a current population of 3565108 inhabitants. Nevertheless, it is hard to find more than five Honda Stream on the market there. Hence, the supply is little and the demand depends on a multitude of factors such as car model reputation, mileage, and reliability.
As illustrated in the figure below, cars of the car manufacturer Honda and specially of their model Stream depreciate in a very predictable fashion. The average selling price of the Stream will be lowered by up to 13% ($16,851) after only one year. After three years, the car usually is valued at 62% of its original selling price ($12,279) while it will only be valued at 28% of the original price after 7 years ($5,354). The Stream's value after twelve years is only 13% of its initial price depending on its condition of course.
One more way to quantify car depreciation is to examine the loss of value vs kilometers driven. The Honda Stream depreciation curve below illustrates this phenomenon for the city of Ibadan. The Stream looses most of its resell price (~ 47%) within the first 30k km of its mileage. The average price for a Stream at that usage level is approximately $10,786. After that the devaluation slows down: at 90,000km the Honda Stream is valued for $6,409 in Ibadan and for $3,006 at 180,000km of mileage.
The last value that heavily influences 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 Stream according to its year and its condition.
|Vehicle Year||Honda Stream Condition|
|Honda Stream variations:|
|STREAM 2.0i ES BVA|
|STREAM 1.7i ES|
|STREAM 2.0i ES|