Are you in the market to buy (or sell) a Mitsubishi Colt in Ibadan? Vehiclus studied the used auto market of all metropolitan areas in Nigeria to determine a pricing profile of various Mitsubishi models depending on their age, technical condition, optical condition, and mileage. In order to maximize your earnings when selling your Colt (or to make sure to not be ripped off when purchasing a Mitsubishi Colt) it is a good idea to know all price-determining factors.
Ibadan is a metropolitan area with a population of 3565108 inhabitants. However, it is hard to find more than a handful Mitsubishi Colt on the market at the same time. Hence, the supply is small and the demand depends on a multitude of parameters for example brand reputation, mileage, and reliability.
As seen below, cars of the make Mitsubishi and specially of their model Colt devaluate in a very usual process. The mean value of the Colt will be lowered by 13% ($21,563) after only one year. After three years, the car typically costs only 64% of its original asking price ($15,443) while it will only be worth 30% of the original price after 7 years ($6,166). The Colt's value after 12 years is only 12% of its original price depending on its condition of course.
Another way to analyze vehicle depreciation is to examine the decrease of value over kilometers driven. The Mitsubishi Colt depreciation curve below illustrates this phenomenon for the city of Ibadan. The Colt looses most of its resell price (ca 50%) within the first 20,000miles (30,000km) driven. The typical price for a Colt at that mileage is approximately $13,947. After that the depreciation slows down: at 90k kilometers the Mitsubishi Colt is sold for $8,074 in Ibadan and for $3,219 at 180k km of mileage.
The last value that significantly impacts the sell price of a second-hand car is the technical and optical condition of the vehicle. The table below shows the deflation of a Mitsubishi Colt according to its year and its condition.
|Vehicle Year||Mitsubishi Colt Condition|
|Mitsubishi Colt variations:|
|COLT CZ3 1.3L ALLSHIFT|
|COLT CLEARTEC 3P 1.1L E / Inform / Invite|
|NOUVELLE COLT 5P 1.3L Invite|
|COLT CZ3 1.5L|
|NOUVELLE COLT 5P 1.1L Inform/ Invite|
|COLT CZ3 1.5DI-D (95 ch)|
|NOUVELLE COLT 3P 1.5L Turbo Ralliart|
|COLT 3P 1.3L Invite|
|COLT 5P 1.5L DI-D Invite|
|COLT CLEARTEC 3P 1.3L Invite|
|COLT 3P 1.5L Turbo|
|COLT CZC 1.5L Turbo|
|COLT 1.5DI-D (95ch)|
|COLT CZ3 1.3L|
|COLT 1.3L ALLSHIFT|
|NOUVELLE COLT 3P 1.1L E/ Inform/ invite|
|COLT 3P 1.5L DI-D Invite|
|COLT CZC 1.5L Invite/Instyle|
|COLT 5P 1.3L Invite|
|COLT CLEARTEC 5P 1.1L Inform / Invite|
|COLT CLEARTEC 5P 1.3L Invite|
|COLT CZ3 1.1L|
|COLT CZ3 1.5 DI-D 95|
|COLT 1.5DI-D (95ch) ALLSHIFT|
|NOUVELLE COLT 3P 1.3L Invite|
|COLT CZC 1.5L Invite / Instyle|
|COLT 3P 1.5L Turbo Ralliart|