Are you in the market to buy (or sell) a Volvo V40 in Ibadan? Vehiclus surveyed the local used auto market of all towns in Nigeria to determine a pricing profile of various Volvo models depending on their age, technical condition, optical condition, and mileage. If you want to optimize your profits when selling your V40 (or to be certain to not be ripped off when buying a Volvo V40) it is recommended to understand most value-determining factors.
Ibadan is a city with a current population of 3565108 people. Nevertheless, it is hard to find more than five Volvo V40 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.
As shown below, cars of the manufacturer Volvo and specially of their model V40 loose their value in a very average process. The mean price of the V40 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 V40's value after twelve years is only 10% of its first price depending on its condition of course.
Another way to analyze vehicle depreciation is to look at the loss of value over miles driven. The Volvo V40 depreciation curve below shows this phenomenon for the city of Ibadan. The V40 looses most of its value (~ 50%) within the first 30k kilometers driven. The average price for a V40 at that usage level is approximately $19,526. After that the depreciation slows down: at 90k km the Volvo V40 is priced for $11,175 in Ibadan and for $5,409 at 180,000km of mileage.
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 Volvo V40 according to its year and its condition.
|Vehicle Year||Volvo V40 Condition|
|Volvo V40 variations:|
|V40 1.9D (115ch)|
|V40 2.0L BVA|
|V40 1.8L GPL|
|V40 1.8L BVA|
|V40 2.0LT BVA|
|V40 1.9D (103ch)|