Are you currently in the market to buy (or sell) a Suzuki Ignis in Ibadan? Vehiclus analyzed the local used car market of all cities in Nigeria to establish a pricing profile of various Suzuki models depending on their age, technical condition, optical condition, and mileage. If you want to optimize your earnings when selling your Ignis (or to be certain to not be overcharged when purchasing a Suzuki Ignis) it is useful to understand most value-determining factors.
Ibadan is a town with a population of 3565108 people. However, there are usually not many Suzuki Ignis available on the market. Therefore, the supply is low and the demand depends on a multitude of parameters such as car model reputation, brand popularity, and brand competetivness.
As seen below, cars of the manufacturer Suzuki and specially of the model Ignis devaluate in a very standard process. The average asking price of the Ignis will be decreased by up to 13% ($18,680) after just one year. After 3 years, the car typically goes for only 62% of its original selling price ($13,335) while it will only be worth 29% of the MSRP after 7 years ($6,222). The Ignis's value after twelve years is only 10% of its original price depending on its condition of course.
One more way to quantify vehicle depreciation is to look at the loss of value over miles driven. The Suzuki Ignis depreciation curve below illustrates this phenomenon for Ibadan. The Ignis looses most of its value (~ 46%) within the first 30,000km of its mileage. The mean price for a Ignis at that mileage is ca $11,995. After that the depreciation plateaus: at 90,000km the Suzuki Ignis is valued for $6,866 in Ibadan and for $3,635 at 180k kilometers of mileage.
The last parameter that heavily impacts the selling price of a used car is the technical and optical condition of the vehicle. The table below illustrates the deflation of a Suzuki Ignis according to its year and its condition.
|Vehicle Year||Suzuki Ignis Condition|
|Suzuki Ignis variations:|
|IGNIS 5P 1.3L GL 4X4|
|IGNIS 5P 1.3L BVA|
|IGNIS 1.5L 4X4|
|IGNIS 1.3L DDIS|
|IGNIS 1.3L VVT|