Are you currently looking to buy (or sell) a Hyundai i40 in Ibadan? Vehiclus surveyed the local used automotive market of all towns 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 profits when selling your i40 (or to be sure to not be overcharged when purchasing a Hyundai i40) it is highly recommended to know all price-determining variables.
Ibadan is a metropolitan area with a population of 3565108 . However, it is hard to find more than a dozen Hyundai i40 on the car market there. That's why the supply is little and the demand depends on a multitude of factors e.g. maintenance costs, brand popularity, and reliability.
As illustrated in the figure below, cars of the manufacturer Hyundai and especially of the model i40 depreciate in a very customary fashion. The average price of the i40 will be lowered by up to 14% ($17,423) after just one year. After three years, the car typically costs only 61% of its original selling price ($12,699) while it will only be valued at 29% of the original price after 7 years ($5,333). The i40's value after twelve years is only 13% of its initial price depending on its condition of course.
Another way to quantify car depreciation is to look at the loss of value vs kilometers driven. The Hyundai i40 depreciation curve below illustrates this phenomenon for the city of Ibadan. The i40 looses most of its resell price (ca 46%) within the first 30,000km of its mileage. The typical price for a i40 at that usage level is ca $11,264. After that the depreciation plateaus: at 90k kilometers the Hyundai i40 is sold for $6,739 in Ibadan and for $2,949 at 180k km of mileage.
The last factor that significantly impacts the sell price of a used car is the technical and optical condition of the vehicle. The table below lists the devaluation of a Hyundai i40 according to its year and its condition.
|Vehicle Year||Hyundai i40 Condition|
|Hyundai i40 variations:|