Missing service history wipes around 20% from used car values | Motoring Issues - Car News Sep 2014

MOTORING ISSUES
main article image

11:17 Tuesday 07 Sep 2021

A survey conducted by KwikFit suggests that an incomplete service history could slash around a fifth of the value of a used car.

The research carried out by the company found that, on average, a used car with an incomplete service history saw its sale value fall by 19 per cent.  With average used car sale values topping £7,500 a fully stamped service book could therefore be worth around £1,500.
The study also revealed that 45 per cent of potential buyers would walk away from a deal when faced with a used car with an incomplete service history.  Older buyers are most concerned by the lack of full service history, with over half saying they would not consider purchasing a car without one, compared to just a third of car buyers aged 18-24.  Over a third of drivers surveyed placed the same value on independent services as they would on one from a franchised dealership. 
“Car owners often skip services to save money but in the long run, this can end up being very costly,” said Roger Griggs, communications director at KwikFit.
“Not only does it reduce the vehicle’s value, it also makes the pool of potential buyers much smaller, making it harder to sell.  Having a record that shows regular servicing gives prospective buyers confidence that a car has been well maintained, so even if you have one or two missing, frequent servicing is still important.” 

 


Click here to sign up for our monthly newsletter



 

 Popular news stories
 
Volvo XC90 revealed in full
The all-new Renault Twingo
Ferrari 250 GTO sells for £22m   Drivers are changing their habits

Volvo XC90 revealed in full

 

The all-new Renault Twingo

 

Ferrari 250 GTO sells for £22m

 

Drivers are changing their habits

Comments
MOTORING ISSUES
Sales figures from KwikFit have highlighted a surge in flat batteries across the nation.
MOTORING ISSUES
12-months job loss protection cover included with new Fiat, Alfa, Jeep and Abarth cars.
MOTORING ISSUES
Coronavirus fears mean 4 in 10 drivers will now not be welcoming passengers in their car.
MOTORING ISSUES
Government to end the 6-month MOT extension scheme introduced during the covid lockdown.
MOTORING ISSUES
Two-thirds of UK motorists against EC plans to introduce speed limiters on all new cars.
CAR TALK
Vauxhall Corsa enjoys a promising start to 2021 by topping the UK’s new car registration charts.