USED cars are never in perfect condition, but certain defects and factors devalue your car more than others, including missing second keys and poor condition alloys.
Further to that, car-selling sites overvalue motors by £330 on average – leaving thousands of sellers feeling out of pocket.
Mileage is a key indicator of a car’s value, so make sure you state the exact number of miles and post a picture of the odometer in any online advert.
Buyers also expect your car to be serviced and MOT tested on time every year – with complete records showing you’ve done so. Missing service history is the second-biggest off-put when buying a car.
It’s no surprises that scratches and dents devalue a motor, so it may be worth having them properly fixed if it’s cost effective to do so.
Of course, this may not be the case for small runarounds or older vehicles – but it may make a difference for family and luxury cars. The same goes for any defective equipment or mechanical problems.
Top 10 reasons devaluing your car
- Innacurate mileage
- Missing service history
- Scratches and dents
- Broken equipment
- Warning lights
- Missing keys
- Missing documents
- Wheel condition
- Long time on sale
- Unofficial repairs
Meanwhile, missing second keys could devalue your car – especially for newer ones that are expensive to replace.
According to carbuying site Motorway – that commissioned the study – missing keys could cost you £250 when it comes to selling.
Replace a missing or damaged V5 log book before putting a car up for sale as it’s only £25 for a new one. A buyer may knock off more than that on the selling price for the additional hassle of ordering one themselves.
Scuffed alloys and shallow tyre depths may also reduce the value of your motor.
Motorway also found that car-buying websites overvalue motors by six per cent – that equates to £330 per car on average.
Alex Buttle, Motorway Director, said: “Selling online is the fastest way to offload a vehicle and it’s why the instant online car buying industry is growing at around 15 per cent a year.
“But speed and convenience should not mean consumers have to accept unnecessary price chipping as part and parcel of selling online.
“Not all buyers routinely inflate their online valuations, but sadly chipping has become so widespread that many consumers have already accepted it as common practice.
“Unrealistic online valuations could really damage the reputation of this growing industry if it’s not tackled head-on.”