Are you currently looking to buy (or sell) a Lexus IS in Ibadan? Vehiclus studied the used auto market of all cities in Nigeria to determine a pricing profile of various Lexus models depending on their age, technical condition, optical condition, and mileage. In order to maximize your profits when selling your IS (or to be sure to not be overcharged when purchasing a Lexus IS) it is very recommended to understand all value-determining variables.
Ibadan is a metropolitan area with a population of 3565108 inhabitants. However, it is hard to find more than five Lexus IS on the used car market . Therefore, the supply is small and the demand depends on a multitude of factors e.g. car model reputation, brand popularity, and used car pricing.
As shown below, cars of the make Lexus and specially of their model IS loose their value in a very conventional fashion. The mean price of the IS will be lowered by 14% ($25,737) after only 1 year. After 3 years, the car usually is valued at 60% of its original asking price ($18,741) while it will only be worth 31% of the MSRP after 7 years ($7,913). The IS's value after 12 years is only 10% of its initial price depending on its condition of course.
One more way to describe car depreciation is to look at the loss of value over kilometers driven. The Lexus IS depreciation curve below shows this phenomenon for the city of Ibadan. The IS looses most of its value (approximately 45%) within the first 30,000km driven. The mean price for a IS at that usage level is ca $16,605. After that the depreciation plateaus: at 90k kilometers the Lexus IS is priced for $9,905 in Ibadan and for $4,379 at 180,000km of mileage.
The last parameter that significantly influences the price of a used car is the technical and optical condition of the vehicle. The table below describes the devaluation of a Lexus IS according to its year and its condition.
|Vehicle Year||Lexus IS Condition|
|Lexus IS variations:|
|IS 250 V6 2.5L|
|IS 220d 2.2L|