Are you currently looking to buy (or sell) a Lexus RX in Ibadan? Vehiclus studied the used automotive market of all cities in Nigeria to establish a pricing profile of various Lexus models depending on their age, technical condition, optical condition, and mileage. To maximize your profits when selling your RX (or to be certain to not be overcharged when purchasing a Lexus RX) it is useful to understand all price-establishing factors.
Ibadan is a town with 3565108 inhabitants. However, there are not many Lexus RX for sale on the market. Hence, the supply is small and the demand depends on a multitude of parameters e.g. season, mileage, and used car pricing.
As seen below, cars of the make Lexus and especially of their model RX devaluate in a very average fashion. The mean asking price of the RX will be lowered by 13% ($22,363) after only 1 year. After three years, the car usually is valued at 61% of its original asking price ($16,200) while it will only be worth 31% of the original price after 7 years ($7,266). The RX's value after 12 years is only 12% of its initial price depending on its condition of course.
One more way to quantify vehicle depreciation is to examine the decrease of value over kilometers driven. The Lexus RX depreciation curve below shows this phenomenon for Ibadan. The RX looses most of its value (~ 45%) within the first 30k kilometers driven. The average price for a RX at that usage level is approximately $14,412. After that the devaluation plateaus: at 90k kilometers the Lexus RX is sold for $8,506 in Ibadan and for $4,188 at 180k km of mileage.
The last parameter that heavily influences the sell price of a used car is the technical and optical condition of the vehicle. The table below illustrates the devaluation of a Lexus RX according to its year and its condition.
|Vehicle Year||Lexus RX Condition|
|Lexus RX variations:|
|RX 350 BREAK V6 3.5L|
|RX 400h BREAK V6 3.3L hybride|
|RX 350 break V6 3.5L|
|RX 400h break V6 3.3L hybride|