Are you in the market to buy (or sell) a Land Rover Defender in Ibadan? Vehiclus surveyed the used auto market of all towns in Nigeria to establish a pricing profile of various Land Rover models depending on their age, technical condition, optical condition, and mileage. To maximize your profits when selling your Defender (or to be certain to not overpay when purchasing a Land Rover Defender) it is of value to know most price-determining factors.
Ibadan is a metropolitan area with 3565108 inhabitants. However, there are usually not many Land Rover Defender for purchase on the market. That's why the supply is low and the demand depends on a multitude of factors such as season, brand popularity, and brand competetivness.
As pictured below, cars of the make Land Rover and especially of their model Defender loose their value in a very normal way. The mean price of the Defender will be decreased by 14% ($48,577) after only 1 year. After 3 years, the car usually is sold for approximately 60% of its initial asking price ($35,762) while it will only be valued at 28% of the original price after 7 years ($16,415). The Defender's value after twelve years is only 12% of its initial price depending on its condition of course.
One more way to describe car depreciation is to look at the decrease of value over miles driven. The Land Rover Defender depreciation curve below shows this phenomenon for Ibadan. The Defender looses most of its value (approximately 50%) within the first 30,000km of its mileage. The typical price for a Defender at that usage level is $31,075. After that the depreciation plateaus: at 90k kilometers the Land Rover Defender is valued for $18,825 in Ibadan and for $9,640 at 180,000km of mileage.
The last factor that significantly determines the price of a used car is the technical and optical condition of the vehicle. The table below describes the deflation of a Land Rover Defender according to its year and its condition.
|Vehicle Year||Land Rover Defender Condition|
|Land Rover Defender variations:|
|DEFENDER 110 STATION WAGON 9PL SUSP RENFORCE|
|DEFENDER 90 STATION WAGON 7PL|
|NOUVEAU DEFENDER 110 5PL|
|NOUVEAU DEFENDER 90 4PL|
|DEFENDER 110 STATION WAGON 9PL|
|NOUVEAU DEFENDER 110 7PL|
|DEFENDER 90 STATION WAGON 6PL|