Are you in the market to buy (or sell) a Toyota Prius in Ibadan? Vehiclus studied the used automotive market of all towns in Nigeria to establish a pricing profile of various Toyota models depending on their age, technical condition, optical condition, and mileage. In order to optimize your earnings when selling your Prius (or to be certain to not be overcharged when purchasing a Toyota Prius) it is a good idea to know most price-determining variables.
Ibadan is a metropolitan area with 3565108 inhabitants. However, there are usually not many Toyota Prius on the market. Hence, the supply is little and the demand depends on various of parameters such as season, brand popularity, and used car pricing.
As seen below, cars of the make Toyota and especially of the model Prius devaluate in a very predictable fashion. The average selling price of the Prius will be decreased by up to 13% ($29,974) after just 1 year. After 3 years, the car usually is sold for about 64% of its original asking price ($21,812) while it will only be worth 31% of the original price after 7 years ($9,886). The Prius's value after 12 years is only 11% of its initial price depending on its condition of course.
One more way to describe vehicle depreciation is to look at the decrease of value vs mileage. The Toyota Prius depreciation curve below describes this phenomenon for the city of Ibadan. The Prius looses most of its value (approximately 45%) within the first 30k km of its mileage. The average price for a Prius at that mileage is ca $19,259. After that the depreciation plateaus: at 90,000km the Toyota Prius is sold for $11,443 in Ibadan and for $5,738 at 180,000km .
The last parameter that significantly influences the sell price of a second-hand car is the technical and optical condition of the vehicle. The table below lists the devaluation of a Toyota Prius according to its year and its condition.
|Vehicle Year||Toyota Prius Condition|
|Toyota Prius variations:|
|PRIUS (75ch) VVT-i|
|PRIUS 70 VVT-i|
|NOUVELLE PRIUS (136ch)|
|PRIUS 75 VVT-i|