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 |
||||||
 |
 |
 |
 |
|||
