Are you currently in the market to buy (or sell) a Volkswagen UP! in Ibadan? Vehiclus studied the local used auto market of all cities 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 profits when selling your UP! (or to be certain to not overpay when buying a Volkswagen UP!) it is of value to learn all price-determining variables.
Ibadan is a city with a population of 3565108 . However, it is hard to find more than a dozen Volkswagen UP! on the used car market at the same time. Therefore, the supply is not high and the demand depends on a multitude of factors for example car model reputation, brand popularity, and used car pricing.
As shown below, cars of the make Volkswagen and especially of the model UP! loose their value in a very usual process. The average asking price of the UP! will be decreased by 14% ($13,445) after just one year. After 3 years, the car usually costs only 62% of its original selling price ($9,871) while it will only be valued at 27% of the original price after 7 years ($4,649). The UP!'s value after 12 years is only 11% of its first price depending on its condition of course.
Another way to quantify car depreciation is to examine the decrease of value vs kilometers driven. The Volkswagen UP! depreciation curve below describes this phenomenon for Ibadan. The UP! looses most of its value (ca 47%) within the first 30k km driven. The mean price for a UP! at that mileage is ca $8,654. After that the devaluation slows down: at 90k kilometers the Volkswagen UP! is sold for $5,235 in Ibadan and for $2,795 at 180k km .
The last parameter that significantly determines the sell price of a used car is the technical and optical condition of the vehicle. The table below lists the devaluation of a Volkswagen UP! according to its year and its condition.
|Vehicle Year||Volkswagen UP! Condition|
|Volkswagen UP! variations:|