Are you currently looking to buy (or sell) a Subaru WRX in Ibadan? Vehiclus studied the local used automotive market of all metropolitan areas in Nigeria to establish a pricing profile of various Subaru models depending on their age, technical condition, optical condition, and mileage. To optimize your earnings when selling your WRX (or to be sure to not be overcharged when purchasing a Subaru WRX) it is useful 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 dozen Subaru WRX on the local car market . That's why the supply is low and the demand depends on a multitude of factors e.g. car model reputation, brand popularity, and brand competetivness.
As illustrated in the figure below, cars of the manufacturer Subaru and specially of their model WRX loose their value in a very average manner. The average selling price of the WRX will be decreased by up to 14% ($25,799) after only one year. After 3 years, the car usually goes for only 62% of its initial selling price ($18,829) while it will only be valued at 27% of the MSRP after 7 years ($8,333). The WRX's value after twelve years is only 13% of its original price depending on its condition of course.
Another way to analyze vehicle depreciation is to study the loss of value over miles driven. The Subaru WRX depreciation curve below shows this phenomenon for the city of Ibadan. The WRX looses most of its resell price (~ 50%) within the first 30k kilometers driven. The average price for a WRX at that usage level is $16,633. After that the depreciation slows down: at 90,000km the Subaru WRX is priced for $9,959 in Ibadan and for $4,785 at 180k km driven.
The last value that significantly effects the selling price of a used car is the technical and optical condition of the vehicle. The table below lists the devaluation of a Subaru WRX according to its year and its condition.
|Vehicle Year||Subaru WRX Condition|
|Subaru WRX variations:|