Modifications and Residuals.
23 February 2000, 02:48 PM
#1
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How much steeper is the depreciation curve for a car with a few mods(SS backbox, air filter) than a normal 'unmodded' car. I've seen a few figures that say a car with sensible mods is more desirable than the standard issue(and hence worth more), but I find this a little hard to believe, as in pretty much all cases I know of a car with mods is worth LESS than the standard car.
I've also heard that you lose as much as 75% of the value of the mods in the first year alone.
Anyone care to comment?
I've also heard that you lose as much as 75% of the value of the mods in the first year alone.
Anyone care to comment?
23 February 2000, 02:59 PM
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Neil,
Difficult to quantify - as with most options and accessories, you can expect them to add very little to the retained value of the car. The most likely reasons are that
a) you can't assume that anyone will pay more for something they wouldn't have chosen themselves.
b) Performance enhancing mods may cause problems with insurance, and are also indicative of a 'boy racer who thrashes their car' mentality to prospective purchasers.
I would disagree with b) as most enthusiasts want to take the best possible care of their cars, but that is the perception of the public.
Even the most desirable options such as leather, metallic paint, and aircon only really make the car easier to sell, and retain very little of their addtional cost after a year or so.
Cheers,
Alex
Difficult to quantify - as with most options and accessories, you can expect them to add very little to the retained value of the car. The most likely reasons are that
a) you can't assume that anyone will pay more for something they wouldn't have chosen themselves.
b) Performance enhancing mods may cause problems with insurance, and are also indicative of a 'boy racer who thrashes their car' mentality to prospective purchasers.
I would disagree with b) as most enthusiasts want to take the best possible care of their cars, but that is the perception of the public.
Even the most desirable options such as leather, metallic paint, and aircon only really make the car easier to sell, and retain very little of their addtional cost after a year or so.
Cheers,
Alex
23 February 2000, 03:04 PM
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One thing you dont tend to get especially if selling back to a dealer is more money for the mods youve done.
The sensible approach of backbox and filter is easy. Take it off and sell it seperatley.
The same could probably be said for brakes and maybe even wheels.
The car could be worth less if ECU mods have been left on. Some dealers wont touch them. If you go Possum, once again you can put the car back to std and resell it.
Its always the best bet to write off the majority of the money invested in mods. You can always supprise yourself when you sell them later.
Jonathan
The sensible approach of backbox and filter is easy. Take it off and sell it seperatley.
The same could probably be said for brakes and maybe even wheels.
The car could be worth less if ECU mods have been left on. Some dealers wont touch them. If you go Possum, once again you can put the car back to std and resell it.
Its always the best bet to write off the majority of the money invested in mods. You can always supprise yourself when you sell them later.
Jonathan
23 February 2000, 07:36 PM
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I agree...
I have owned several modded cars... basically dont expect to get anything for your mods.
You be better reverting it to standard and selling the parts seperately...
J.
I have owned several modded cars... basically dont expect to get anything for your mods.
You be better reverting it to standard and selling the parts seperately...
J.
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