Are you looking to buy (or sell) a Lexus GS in Ibadan? Vehiclus surveyed the local used automotive market of all metropolitan areas in Nigeria to determine a pricing profile of various Lexus models depending on their age, technical condition, optical condition, and mileage. To maximize your earnings when selling your GS (or to be sure to not be overcharged when buying a Lexus GS) it is highly recommended to know most value-determining variables.
Ibadan is a city with currently 3565108 inhabitants. However, it is hard to find more than five Lexus GS on the used car market . Therefore, the supply is little and the demand depends on various of parameters for example maintenance costs, fuel mileage, and reliability.
As described in the figure below, cars of the car manufacturer Lexus and especially of the model GS loose their value in a very normal manner. The average price of the GS will be lowered by 13% ($30,862) after only 1 year. After 3 years, the car typically costs only 61% of its original selling price ($23,087) while it will only be priced at 30% of the MSRP after 7 years ($9,829). The GS's value after 12 years is only 12% of its original price depending on its condition of course.
One more way to quantify vehicle depreciation is to study the decrease of value vs miles driven. The Lexus GS depreciation curve below describes this phenomenon for the city of Ibadan. The GS looses most of its value (~ 47%) within the first 30,000km of its mileage. The typical price for a GS at that mileage is $19,809. After that the depreciation plateaus: at 90,000km the Lexus GS is valued for $12,391 in Ibadan and for $5,550 at 180k kilometers .
The last factor that significantly determines the price of a second-hand car is the technical and optical condition of the vehicle. The table below lists the deflation of a Lexus GS according to its year and its condition.
|Vehicle Year||Lexus GS Condition|
|Lexus GS variations:|
|GS 460 V8 4.6L|
|GS 450h V6 3.5L hybride|
|GS 300 V6 3.0L|