Are you currently looking to buy (or sell) a Kia Sorento in Ibadan? Vehiclus analyzed the used car market of all towns in Nigeria to determine a pricing profile of various Kia models depending on their age, technical condition, optical condition, and mileage. If you want to maximize your profits when selling your Sorento (or to be sure to not overpay when purchasing a Kia Sorento) it is useful to know most price-determining factors.
Ibadan is a town with 3565108 inhabitants. Nevertheless, there are usually not many Kia Sorento for sale on the market. Therefore, the supply is little and the demand depends on various of parameters e.g. brand reputation, mileage, and brand competetivness.
As illustrated in the figure below, cars of the manufacturer Kia and especially of their model Sorento depreciate in a very normal way. The mean selling price of the Sorento will be decreased by up to 14% ($27,683) after just one year. After 3 years, the car usually costs only 63% of its initial asking price ($19,779) while it will only be priced at 30% of the original price after 7 years ($8,928). The Sorento's value after 12 years is only 10% of its original price depending on its condition of course.
One more way to analyze car depreciation is to study the loss of value over kilometers driven. The Kia Sorento depreciation curve below illustrates this phenomenon for Ibadan. The Sorento looses most of its value (approximately 46%) within the first 30k km driven. The average price for a Sorento at that mileage is approximately $17,991. After that the devaluation plateaus: at 90,000km the Kia Sorento is priced for $10,400 in Ibadan and for $5,176 at 180k km .
The last factor that heavily determines the sell price of a second-hand car is the technical and optical condition of the vehicle. The table below describes the devaluation of a Kia Sorento according to its year and its condition.
|Vehicle Year||Kia Sorento Condition|
|Kia Sorento variations:|
|SORENTO 2.5 CRDi|
|SORENTO 2.5 CRDI EX BVA|
|SORENTO 2.5 CRDI EX Major / Shilton|
|SORENTO 2.5 CRDI EX|
|SORENTO 2.5 CRDI EX Major / Shilton BVA|
|SORENTO 2.5 CRDI Part time BVA|
|SORENTO 3.5L BVA EX|
|SORENTO 2.5 CRDI Full time|
|SORENTO 2.5 CRDI Part time|
|SORENTO 2.5 CRDi BVA|
|SORENTO 2.5 CRDI Full time BVA|