Modifications among 7 things that can reduce your car's value

Cars in popular colours such as white and silver receive £500 to £1,000+ more than unfavourable dark greens and browns.

With the March plate change approaching, many people will be thinking about getting a new car and part exchanging their old one.

Leasing Options have put together a list of things that could decrease the value of a car ahead of its part exchange:

1) The Colour Of Money

According to a report on thisismoney.co.uk you expect to receive between £500-£1,000 more if the car is coloured in a popular coat of white or silver compared to the more unfavourable dark greens and browns.

2) Stay Away From The Kerbs (£400)

When you hit a kerb, not only will it scratch and/or dent your alloy wheels but it will leave a big hole in your pocket following a hefty bill. If you leave them dinged and dented when trying to part exchange your car, you could be devaluing your car by as much as £400, as kerbed wheels cost around £100 to repair, each.

3) Nightmare Modifications

There’s a lot of talk about whether or not modification can add or reduce part exchange value. Most of the time, it decreases it. Recent research has highlighted some of the most harmful modifications you can make to your car and how much they decrease its value;

1) Negative camber wheels = -£310.71

2) Vehicle Lowering = -£286.29

3) Modified Exhaust = -£239.08

4) Racing Seats = -£187.33

4) Buff Out Those Scratches And Scrapes! (£300)

We all get scratches and scrapes on our cars, it’s unavoidable thanks to debris on the roads, things falling out of trees etc, but it’s important to keep on top of your car's paintwork. For the majority, a good ol’ polish will do the trick, but if you leave it and attempt to part exchange the vehicle in its current condition, you could lose a few hundred pounds off your vehicle’s value.

5) Mileage Makes a Difference (£200+)

In today’s world, as an average, we expect cars to rack up around 10,000 miles per year. That’s why you usually see this figure when you’re looking at the financial elements of attaining a new car. Unfortunately, as a rule of thumb, if you’re doing a lot more than that, according to buymycar.com you can expect hundreds of pounds to be knocked off the price.

6) Tread Carefully With Tyres (£200)

Tyres are all that’s between you and the road and is one of the most important elements of a car when it comes to safety. So, keep an eye on them and as soon as the tread gets too low or you see sidewall damage, switch them out for a fresh set. If you don’t and you part exchange your vehicle when the tyres are in bad shape, the cost of repair will be knocked off the car’s value, which could cause a decrease of over £200.

7) Ditch The Dents (£100)

Similarly to scratches and scrapes, leftover dents in your car’s bodywork will also decrease its value. You could potentially lose £50-£100 per panel if repairs are needed. While dents in the bodywork may not seem like a big deal, they can actually hamper the car’s structure and may cause it to act improperly if an accident occurs.