Are you in the market to buy (or sell) a Volvo V60 in Ibadan? Vehiclus surveyed the used car market of all cities in Nigeria to establish 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 V60 (or to be certain to not overpay when purchasing a Volvo V60) it is recommended to know most price-establishing variables.
Ibadan is a town with a current population of 3565108 inhabitants. Nevertheless, there are usually not many Volvo V60 for purchase on the market. Therefore, the supply is small and the demand depends on various of factors e.g. car model reputation, mileage, and used car pricing.
As illustrated in the figure below, cars of the make Volvo and especially of the model V60 loose their value in a very standard fashion. The mean value of the V60 will be lowered by up to 13% ($36,862) after only one year. After 3 years, the car usually goes for only 60% of its original selling price ($27,215) while it will only be priced at 29% of the MSRP after 7 years ($11,552). The V60's value after twelve years is only 10% of its original price depending on its condition of course.
One more way to analyze vehicle depreciation is to examine the loss of value over kilometers driven. The Volvo V60 depreciation curve below illustrates this phenomenon for the city of Ibadan. The V60 looses most of its resell price (approximately 46%) within the first 30,000km driven. The average price for a V60 at that mileage is approximately $23,640. After that the depreciation slows down: at 90k km the Volvo V60 is priced for $14,419 in Ibadan and for $6,434 at 180k km .
The last parameter that heavily impacts the selling price of a used car is the technical and optical condition of the vehicle. The table below illustrates the deflation of a Volvo V60 according to its year and its condition.
|Vehicle Year||Volvo V60 Condition|
|Volvo V60 variations:|