Are you looking to buy (or sell) a Volkswagen Beetle in Ibadan? Vehiclus studied the used auto market of all towns in Nigeria to determine a pricing profile of various Volkswagen models depending on their age, technical condition, optical condition, and mileage. If you want to maximize your earnings when selling your Beetle (or to make sure to not overpay when buying a Volkswagen Beetle) it is recommended to learn all value-determining factors.
Ibadan is a metropolitan area with 3565108 inhabitants. Nevertheless, there are usually not many Volkswagen Beetle on the market. Hence, the supply is low and the demand depends on a multitude of parameters e.g. brand reputation, fuel mileage, and reliability.
As described in the figure below, cars of the make Volkswagen and especially of the model Beetle loose their value in a very usual manner. The average selling price of the Beetle will be decreased by up to 13% ($16,846) after just one year. After 3 years, the car typically is valued at 64% of its original selling price ($12,615) while it will only be priced at 27% of the MSRP after 7 years ($5,905). The Beetle's value after 12 years is only 10% of its original price depending on its condition of course.
One more way to quantify car depreciation is to look at the loss of value over miles driven. The Volkswagen Beetle depreciation curve below shows this phenomenon for the city of Ibadan. The Beetle looses most of its resell price (~ 47%) within the first 30k km of its mileage. The mean price for a Beetle at that usage level is approximately $10,780. After that the depreciation plateaus: at 90k km the Volkswagen Beetle is sold for $6,745 in Ibadan and for $3,556 at 180k kilometers .
The last parameter that heavily impacts the sell price of a second-hand car is the technical and optical condition of the vehicle. The table below describes the deflation of a Volkswagen Beetle according to its year and its condition.
|Vehicle Year||Volkswagen Beetle Condition|
|Volkswagen Beetle variations:|