Are you currently looking to buy (or sell) a Hyundai Accent in Ibadan? Vehiclus studied the used car market of all cities in Nigeria to determine a pricing profile of various Hyundai models depending on their age, technical condition, optical condition, and mileage. To maximize your profits when selling your Accent (or to be sure to not overpay when buying a Hyundai Accent) it is highly recommended to understand most price-establishing variables.
Ibadan is a metropolitan area with a current population of 3565108 inhabitants. However, it is hard to find more than a handful Hyundai Accent on the used car market . That's why the supply is low and the demand depends on various of parameters e.g. maintenance costs, brand popularity, and used car pricing.
As described in the figure below, cars of the car manufacturer Hyundai and specially of their model Accent depreciate in a very average process. The average price of the Accent will be decreased by up to 13% ($12,306) after only one year. After 3 years, the car typically goes for only 60% of its original asking price ($8,484) while it will only be worth 27% of the MSRP after 7 years ($3,832). The Accent's value after 12 years is only 11% of its initial price depending on its condition of course.
Another way to quantify vehicle depreciation is to study the loss of value vs miles driven. The Hyundai Accent depreciation curve below shows this phenomenon for the city of Ibadan. The Accent looses most of its resell price (~ 45%) within the first 30,000km driven. The average price for a Accent at that usage level is approximately $8,100. After that the depreciation plateaus: at 90k km the Hyundai Accent is valued for $4,413 in Ibadan and for $2,204 at 180,000km of mileage.
The last factor that significantly influences the selling price of a used car is the technical and optical condition of the vehicle. The table below illustrates the deflation of a Hyundai Accent according to its year and its condition.
|Vehicle Year||Hyundai Accent Condition|
|Hyundai Accent variations:|
|ACCENT 1.5 CRDi PACK / PACK Clim|
|ACCENT 1.5 CRDi PACK Clim|
|ACCENT 5P GL CLIM/GLS|
|ACCENT 3P GL CLIM|