DRIVERS looking to buy a new 21-plate car in March are being warned of things that could reduce the value of their part-exchange model.
Motoring company Leasing Options has come up with a list of seven issues that, combined, could knock up to £2500 off the value of your trade-in.
One thing you won’t be able to help is the cost impact of the colour of your second-hand car.
Research shows you can expect to lose between £500 and £1000 if your pride and joy is an unfavourable dark green or brown as opposed to sporting a popular white or silver paintjob.
Hitting a kerb will not only damage your alloys but leave a big hole in your pocket. You could be devaluing your car by as much as £400, as scuffed wheels cost about £100 each to repair.
Certain “sporty” modifications will also have a negative price impact – up to £310, in fact – such as altering the wheel camber angles, lowering the ride height, changing the exhaust and fitting racing seats.
Buffing out the scratches and giving the paintwork a gleaming polish before you seek a trade-in price can also save you up to £300.
Less surprisingly, if you spend more time on the road – averaging above 10,000 miles a year – this will usually knock about £200 off your car’s worth.
Finally, worn and damaged tyres will also mean you get more than £200 less, while minor dents could cost you up to £100 per panel if repairs are needed.
Check out this Leasing Options advice for part-exchanging your car.
