Research carried out by Manheim Auctions has revealed that many motorists are losing up to £500 when they come to sell their car. One in ten motorists fail to prepare their car properly before they sell, and with every dent, scratch and scuff translating into a reduction in the sale price, sellers will find their car is worth less than they thought.
Damage to alloy wheels could reduce the value by as much as £50 to £150 per wheel
Cracked headlights impact on values by £75 to £150
Damaged windscreen can devalue a car by between £100 to £300
Poor condition carpets and front seat upholstery can affect values by between £100 and £350
Minor accident damage can affect the value by up to £250 per panel
As well as the car’s condition, a typical 3 year old vehicle minus the full documentation and with no service history to speak of could lose as much as £200 to £500 of its value
The findings come as the government is set to announce crippling spending cuts that will hit British motorists hard, making it even more important to get the best price when selling a car.
“It’s imperative that motorists do everything they can to maximise what their car is worth,” commented Craig Mailey, Client Services & Marketing Director at Manheim Auctions. “Ensuring a car is clean and in the best condition possible will go a long way to getting the best resale price.”
“At Manheim Auctions we recommend sellers use a smart repair service…for the best finishing touch have your car professionally valeted, no-one wants to buy a dirty car and you need to do as much as possible to create ‘kerb appeal’. Investing in preparing your car for sale will save you money in the long run and ensure your car achieves the best resale price possible.”
For more tips on the best way to sell your car check out our comprehensive guide “Sell Your Car Like A pro!”