A Car Without Service History Could Lose 26% of its Value

A car is a major investmentl,  all of us want to minimise our motoring costs in the long run.  A new study, however, shows that car owners who try to save cash by not having their vehicles serviced regularly could well cost themselves a lot of money in the long run.

 

According to research carried out by ICM, a car with a complete service history could sell for up to 26% more than one without.

 

With the value of the average used car being £5,500, this means your car could sell for about £1,500 more if it has a full service history.  For the used car market that would mean extra income of more than £10 billion every year.

 

With last year seeing the lowest used car sales in more than ten years, trying to sell a car without a service history will be an even harder job than usual.

 

Interestingly enough, nearly a third of respondents said they considered a service history from an independent garage as trustworthy as one from a mainstream franchised service station.

 

The survey was commissioned by Kwik Fit.  The company's Customer Service Director, David White, had this to say about the results: "It's accepted that a fully stamped service book will increase the re-sale value of a car but this research has been able to put a figure on it: £1,500 is a significant number."

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