REMARKETING: The end of the line
Date:
30 September 2014
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Author: Jack Carfrae
The residual value expert's view
It's worth keeping an eye on what the market is doing before you decide whether or not to invest in any repairs according to Rupert Pontin, chief car editor at Glass's.
"[It] depends on market conditions to be honest," he says. "Where there are used car stock shortages as we have had over the past few years, it is probable that selling the car in its defleet condition with just a good valet will give the best return. However, where there are examples of many of the same model in the market - as is the case with Audi A3 diesel Sportback or BMW 320d ED models - then a smart repair of the worst damage will help to increase desirability of specific cars in a sea of mediocre to poor condition alternatives."
In terms of distinguishing which vehicles are worth repairing, "common sense prevails" according to Pontin.
"The newer the car or van the less damage it must have, and the more expensive the car the less damage it must have. However, this can also depend on the car, region in the UK and market sector.
"A high-end premium model with a nice set of alloys will need the wheels to be looking fantastic, whereas a light scuff on a bumper may be overlooked or deemed acceptable. On an entry-level car in central London, the interior needs to be fantastic whilst the odd bumper and body scuff or ding will be overlooked."
He also claims that fitting driver aids from new can eliminate damage before it happens: "There are some front-end actions that can help condition on defleet, such as insisting that all cars have parking sensors or parking cameras fitted as standard extras."
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