Are you in the market to buy (or sell) a Toyota Hillux in Ibadan? Vehiclus surveyed the used car market of all cities in Nigeria to determine a pricing profile of various Toyota models depending on their age, technical condition, optical condition, and mileage. To maximize your profits when selling your Hillux (or to be sure to not overpay when buying a Toyota Hillux) it is useful to learn all value-determining factors.
Ibadan is a town with currently 3565108 inhabitants. Nevertheless, it is hard to find more than five Toyota Hillux on the used car market there. That's why the supply is not high and the demand depends on various of parameters e.g. car model reputation, mileage, and brand competetivness.
As illustrated in the figure below, cars of the car manufacturer Toyota and especially of their model Hillux depreciate in a very predictable fashion. The mean price of the Hillux will be lowered by up to 14% ($25,524) after only 1 year. After three years, the car usually is sold for about 64% of its initial asking price ($17,982) while it will only be priced at 27% of the MSRP after 7 years ($7,940). The Hillux's value after 12 years is only 13% of its first price depending on its condition of course.
One more way to analyze car depreciation is to look at the loss of value over mileage. The Toyota Hillux depreciation curve below shows this phenomenon for Ibadan. The Hillux looses most of its value (approximately 47%) within the first 30,000km driven. The average price for a Hillux at that mileage is approximately $16,638. After that the devaluation slows down: at 90k kilometers the Toyota Hillux is priced for $9,383 in Ibadan and for $4,501 at 180k kilometers .
The last parameter that significantly determines the price of a second-hand car is the technical and optical condition of the vehicle. The table below shows the deflation of a Toyota Hillux according to its year and its condition.
|Vehicle Year||Toyota Hillux Condition|
|Toyota Hillux variations:|
|HI ACE 100 D-4D 9PL|
|HI ACE 2.4TD 9PL|
|HI ACE GL (117ch) D-4D 8PL|
|HI ACE (117ch) D-4D 8PL|
|HI ACE 100 D-4D 8PL|