Are you currently in the market to buy (or sell) a Hyundai Satellite in Ibadan? Vehiclus studied the used auto market of all cities in Nigeria to establish a pricing profile of various Hyundai models depending on their age, technical condition, optical condition, and mileage. In order to optimize your earnings when selling your Satellite (or to make sure to not be ripped off when buying a Hyundai Satellite) it is of value to learn most value-determining factors.
Ibadan is a town with 3565108 inhabitants. Nevertheless, it is hard to find more than a handful Hyundai Satellite on the market . Hence, the supply is little and the demand depends on various of factors for example maintenance costs, brand popularity, and brand competetivness.
As pictured below, cars of the car manufacturer Hyundai and specially of the model Satellite depreciate in a very conventional manner. The average value of the Satellite will be lowered by 14% ($21,266) after just 1 year. After three years, the car typically is sold for about 64% of its original selling price ($15,412) while it will only be worth 27% of the MSRP after 7 years ($6,535). The Satellite's value after 12 years is only 11% of its initial price depending on its condition of course.
Another way to describe vehicle depreciation is to study the decrease of value over miles driven. The Hyundai Satellite depreciation curve below describes this phenomenon for the city of Ibadan. The Satellite looses most of its value (approximately 46%) within the first 20,000miles (30,000km) driven. The average price for a Satellite at that mileage is $13,753. After that the depreciation plateaus: at 90k km the Hyundai Satellite is priced for $8,141 in Ibadan and for $3,627 at 180k km of mileage.
The last factor that heavily effects the selling price of a second-hand car is the technical and optical condition of the vehicle. The table below shows the deflation of a Hyundai Satellite according to its year and its condition.
|Vehicle Year||Hyundai Satellite Condition|
|Hyundai Satellite variations:|
|SATELLITE 2.5 CRDi Euro IV PACK Clim 9PL|
|SATELLITE 2.5L TD SVX Confort 9PL|
|SATELLITE 2.5L TD SVX Confort 7PL EURO III|
|SATELLITE 2.5 CRDi PACK Clim 9PL|
|SATELLITE 2.5L TD HSV 4WD 7PL EURO III|
|SATELLITE 2.5L TD SVX Confort 9PL EURO III|
|SATELLITE 2.5 TD PACK Clim 7PL|
|SATELLITE 2.5 CRDi PACK Clim 7PL|
|SATELLITE 2.5L TD SVX Confort 7PL|
|SATELLITE 2.5 TD PACK Confort 4WD|
|SATELLITE 2.5 TD PACK Clim 9PL|
|SATELLITE 2.5 CRDi PACK Confort|
|SATELLITE 2.5 CRDi 4WD PACK Confort 7PL|