Volkswagen Passat for sale in Ibadan (Nigeria)

Are you in the market to buy (or sell) a Volkswagen Passat in Ibadan? Vehiclus surveyed the local 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 optimize your profits when selling your Passat (or to be certain to not be ripped off when buying a Volkswagen Passat) it is recommended to understand most value-determining factors.

Supply and Demand of Volkswagen Passat on the local vehicle market

Ibadan is a city with a current population of 3565108 people. Nevertheless, it is hard to find more than five Volkswagen Passat on the local car market at the same time. Hence, the supply is low and the demand depends on a multitude of factors e.g. maintenance costs, brand popularity, and brand competetivness.

Price Devaluation Curve of the Passat in Ibadan

As shown below, cars of the manufacturer Volkswagen and specially of their model Passat loose their value in a very average process. The mean price of the Passat will be decreased by up to 13% ($30,576) after only one year. After three years, the car typically goes for only 63% of its original asking price ($21,869) while it will only be priced at 28% of the MSRP after 7 years ($9,686). The Passat's value after twelve years is only 10% of its first price depending on its condition of course.

Depreciation according to vehicle mileage

Another way to analyze vehicle depreciation is to look at the loss of value over miles driven. The Volkswagen Passat depreciation curve below shows this phenomenon for the city of Ibadan. The Passat looses most of its value (~ 50%) within the first 30k kilometers driven. The average price for a Passat at that usage level is approximately $19,526. After that the depreciation slows down: at 90k km the Volkswagen Passat is priced for $11,175 in Ibadan and for $5,409 at 180,000km of mileage.

Volkswagen Passat price depending on condition (fair, good, excellent)

The last factor that heavily effects the sell price of a second-hand car is the technical and optical condition of the vehicle. The table below shows the devaluation of a Volkswagen Passat according to its year and its condition.

Vehicle Year	Volkswagen Passat Condition
	fair	good	excellent
2017	$22,434	$28,899	$35,363
2016	$19,729	$25,413	$31,098
2015	$17,215	$22,175	$27,136
2014	$14,893	$19,185	$23,476
2013	$12,763	$16,441	$20,119
2012	$10,825	$13,944	$17,064
2011	$9,079	$11,695	$14,311
2010	$7,525	$9,693	$11,861
2009	$6,162	$7,938	$9,714
2008	$4,992	$6,430	$7,869
2007	$4,013	$5,170	$6,326
2006	$3,227	$4,156	$5,086
2005	$2,632	$3,390	$4,149
2004	$2,229	$2,871	$3,513
2003	$2,018	$2,599	$3,181
2002	$1,999	$2,575	$3,151