Are you currently in the market to buy (or sell) a Seat MII in Ibadan? Vehiclus analyzed the local used auto market of all cities in Nigeria to establish a pricing profile of various Seat models depending on their age, technical condition, optical condition, and mileage. If you want to optimize your profits when selling your MII (or to make sure to not be ripped off when buying a Seat MII) it is useful to learn most value-determining variables.
Ibadan is a city with a current population of 3565108 . However, it is hard to find more than three Seat MII on the local car market at the same time. Therefore, the supply is little and the demand depends on various of factors such as maintenance costs, fuel mileage, and reliability.
As shown below, cars of the make Seat and specially of their model MII devaluate in a very usual process. The mean asking price of the MII will be decreased by 13% ($21,003) after only one year. After three years, the car typically is sold for about 64% of its original asking price ($14,912) while it will only be valued at 27% of the original price after 7 years ($6,871). The MII's value after 12 years is only 10% of its original price depending on its condition of course.
Another way to quantify vehicle depreciation is to study the loss of value over mileage. The Seat MII depreciation curve below describes this phenomenon for the city of Ibadan. The MII looses most of its value (~ 47%) within the first 30,000km of its mileage. The typical price for a MII at that mileage is $13,698. After that the devaluation plateaus: at 90k km the Seat MII is sold for $7,843 in Ibadan and for $4,044 at 180k kilometers .
The last value that heavily determines the price of a used car is the technical and optical condition of the vehicle. The table below lists the deflation of a Seat MII according to its year and its condition.
|Vehicle Year||Seat MII Condition|
|Seat MII variations:|