Are you currently looking to buy (or sell) a Kia Optima in Singapore? Vehiclus analyzed the local used automotive market of all towns in Singapore to establish a pricing profile of various Kia models depending on their age, technical condition, optical condition, and mileage. If you want to maximize your earnings when selling your Optima (or to be certain to not overpay when purchasing a Kia Optima) it is a good idea to learn all value-determining variables.
Singapore is a town with currently 3547809 inhabitants. However, it is hard to find more than three Kia Optima on the market at the same time. Therefore, the supply is little and the demand depends on a multitude of parameters for example brand reputation, fuel mileage, and used car pricing.
As described in the figure below, cars of the manufacturer Kia and specially of the model Optima depreciate in a very conventional fashion. The mean value of the Optima will be lowered by 14% ($17,271) after only one year. After three years, the car usually goes for only 63% of its original asking price ($12,637) while it will only be worth 30% of the original price after 7 years ($5,721). The Optima's value after twelve years is only 11% of its initial price depending on its condition of course.
One more way to quantify vehicle depreciation is to study the loss of value vs kilometers driven. The Kia Optima depreciation curve below shows this phenomenon for Singapore. The Optima looses most of its resell price (ca 50%) within the first 30k km driven. The typical price for a Optima at that usage level is ca $11,177. After that the devaluation plateaus: at 90k km the Kia Optima is sold for $6,740 in Singapore and for $3,362 at 180,000km of mileage.
The last parameter that heavily determines the price of a used car is the technical and optical condition of the vehicle. The table below describes the devaluation of a Kia Optima according to its year and its condition.
|Vehicle Year||Kia Optima Condition|
|Kia Optima variations:|