Are you looking to buy (or sell) a Volkswagen Toureg in Ibadan? Vehiclus studied the local used automotive 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. In order to maximize your earnings when selling your Toureg (or to be certain to not overpay when buying a Volkswagen Toureg) it is a good idea to learn most price-determining factors.
Ibadan is a metropolitan area with a current population of 3565108 . Nevertheless, it is hard to find more than a handful Volkswagen Toureg on the local car market there. Therefore, the supply is low and the demand depends on various of factors e.g. maintenance costs, fuel mileage, and brand competetivness.
As illustrated in the figure below, cars of the make Volkswagen and specially of the model Toureg devaluate in a very normal way. The average price of the Toureg will be lowered by 13% ($49,141) after just one year. After 3 years, the car usually is sold for approximately 61% of its original asking price ($35,389) while it will only be valued at 27% of the original price after 7 years ($16,090). The Toureg's value after 12 years is only 10% of its first price depending on its condition of course.
One more way to quantify vehicle depreciation is to study the decrease of value over mileage. The Volkswagen Toureg depreciation curve below illustrates this phenomenon for Ibadan. The Toureg looses most of its value (~ 46%) within the first 30k km driven. The typical price for a Toureg at that usage level is approximately $31,631. After that the depreciation plateaus: at 90,000km the Volkswagen Toureg is sold for $18,444 in Ibadan and for $9,311 at 180k kilometers of mileage.
The last factor that significantly determines the price of a used car is the technical and optical condition of the vehicle. The table below describes the deflation of a Volkswagen Toureg according to its year and its condition.
|Vehicle Year||Volkswagen Toureg Condition|
|Volkswagen Toureg variations:|