‘You’ll be missing out’ – expert warns drivers over common car modifications that’ll take £1000s off its selling price
AN EXPERT has warned drivers looking to sell their motor that a handful of common modifications could be shading £1000s of its value.
Petrolheads over at Motorpoint have warned car-owners that a host of little-known mistakes are costing them - including a number of subtle changes many might wrongly believe are adding to their car's sale price.
John Hood, who's responsible for Motorpoint’s 'Sell Your Car' offering, has revealed which mods or changes could cost drivers when trying to sell.
However, the good news is that small decorative tweaks won't make a huge difference.
He said: "It’s a common myth that cars with superficial decorations, such as stickers, will be valued at a much lower price.
“While stickers don’t directly affect pricing, customising a car can have significant implications, potentially deterring prospective buyers.
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“The psychology behind it, especially in cases involving performance modifications like speed stripes, may insinuate irresponsible driving habits on the part of the owner."
John warned car owners that "performance enhancements", such as swapping out exhausts, can be much more problematic and can lead to reducing the price you'd likely get for your motor - instead of adding value.
He added "Not only will you be spending money on modifying your vehicle, but you’ll also be missing out when it comes to selling.
"In extreme cases, motorists with modified cars could lose out on somewhere near £6,120 in resale value.”
The car expert strongly stated that things like this should be considered before modifying a vehicle, and that it might be a smart idea to remove aftermarket additions before trying to sell it to maintain its value.
It's even been warned that certain modifications, like alloy wheels and body kits, could cost drivers £100s as they risk impacting insurance premiums.
Peter Waddell, who's CEO of BigWantsYourCar.com, told drivers that while modifications may look cool, some lesser-known changes could see your car insurance sky rocket.
Peter says that even basic changes like alloy wheels could see your insurance premiums rise.
The motors expert says this can happen if the new wheels "significantly raise the vehicle's value" or if there's a "high theft rate" for such items in your area.
He also warned how exhaust modifications can lead to higher insurance costs and even legal issues.
He said: "Making your car's exhaust louder can lead to higher insurance costs and legal issues with noise pollution.
"Many such modifications are illegal, especially if they involve removing silencers, which can lead to fines and make your vehicle non-compliant with road laws."
This comes as an MOT mechanic gave a similar warning to drivers, suggesting they risk face failing their MOT by installing four common mods to their car.
