Are you currently in the market to buy (or sell) a Hyundai ix in Ibadan? Vehiclus analyzed the used car market of all metropolitan areas 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 ix (or to be sure to not be ripped off when purchasing a Hyundai ix) it is a good idea to learn all price-determining factors.
Ibadan is a metropolitan area with a current population of 3565108 inhabitants. Nevertheless, there are usually not many Hyundai ix available on the market. Therefore, the supply is small and the demand depends on a multitude of parameters for example maintenance costs, fuel mileage, and reliability.
As seen below, cars of the car manufacturer Hyundai and specially of the model ix devaluate in a very average fashion. The average asking price of the ix will be lowered by up to 13% ($13,274) after just one year. After 3 years, the car typically is valued at 60% of its initial selling price ($9,630) while it will only be valued at 31% of the original price after 7 years ($4,197). The ix's value after twelve years is only 13% of its first price depending on its condition of course.
One more way to describe car depreciation is to examine the loss of value vs miles driven. The Hyundai ix depreciation curve below illustrates this phenomenon for Ibadan. The ix looses most of its value (ca 47%) within the first 30,000km of its mileage. The typical price for a ix at that mileage is $8,517. After that the devaluation slows down: at 90k km the Hyundai ix is sold for $5,026 in Ibadan and for $2,356 at 180k kilometers driven.
The last factor that significantly determines the selling price of a second-hand car is the technical and optical condition of the vehicle. The table below illustrates the deflation of a Hyundai ix according to its year and its condition.
|Vehicle Year||Hyundai ix Condition|
|Hyundai ix variations:|