A Recent Study Reveals a Simple £60 Car Modification That Could Increase Your Car’s Value
A recent study conducted by the car selling platform Auto Trader uncovered a fascinating insight into the world of car buying and selling. The study found that a straightforward £60 modification to your car could potentially boost its value by hundreds of pounds. So, what is this magical modification? The answer lies in the alloy wheels of your vehicle.
Alloy wheels are often one of the first things potential buyers notice when looking at a used car. Even minor damage to alloy wheels can have a significant impact on the perceived value of a vehicle. According to the survey of over 1,000 UK motorists by Auto Trader, 64% of car buyers would think twice about purchasing a car if the alloy wheels were severely damaged. In fact, more than a third of buyers expect a reduction of £250 to £500 in price to compensate for damaged alloy wheels.
To delve deeper into this issue, Auto Trader consulted with automotive experts Hannah Gordon and Louise Baker, the company director of Womanic. They provided insights into alloy wheel repairs, the cost of rectifying the damage, and whether it is worthwhile to fix the alloy wheels before selling your car. Ms. Baker highlighted that a single alloy repair can cost anywhere from £60 to £120 per wheel, with a potential total cost of £240 to £480 if all four wheels need refurbishment. Interestingly, buyers typically negotiate an average of £375 off the sale price, even if only one wheel is damaged.
For those looking to save on repair costs, Ms. Gordon suggested that individuals could attempt to refurbish their alloy wheels themselves. This process involves using wet and dry sanding paper to remove the old paint, smoothing the wheel, and then applying aerosol primer, wheel paint, and lacquer. These items can be easily purchased from motoring shops or online retailers.
Erin Baker, the editorial director at Auto Trader, emphasised the importance of addressing minor damage to alloy wheels before putting a car on the market. She pointed out that sellers often underestimate the impact of such damage on negotiation outcomes. By investing in a low-cost repair such as alloy wheel refurbishment, sellers could potentially save hundreds of pounds when selling their vehicle.
In conclusion, this study sheds light on the significance of alloy wheels in the car buying process and highlights the potential financial benefits of addressing any damage before selling a vehicle. So, before listing your car for sale, it may be worthwhile to inspect the condition of your alloy wheels and consider investing in a repair if necessary. By taking this simple step, you could significantly increase the resale value of your car.
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