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The media has recently picked up on the dangers of motorists who modify their cars to boost performance, in particular focusing on nitrous oxide kits which are used to boost an engine's power.
There is no question that these high-performing cars are more difficult to handle, especially for inexperienced drivers, and so some kind of regulation is necessary.
However, even if you're not into large exhausts and body kits, you do have a degree of influence into the specification of your car, something that from a financial point of view can pay real dividends.
Depreciation is the single biggest cost associated with owning a vehicle and so anything that you can do to mitigate against this makes financial sense.
With the world in the midst of recession vehicle values are under real pressure, making it all the more important for individuals and businesses to consider how the car is going to perform when it is sold on.
While some extras are a nice to have, others are essential and will support the value of the vehicle. Features like air conditioning, electric windows, metallic paint and alloy wheels have become a must, especially in luxury or business cars. No one is going to want to purchase a premium car without these features.
Regardless of the size or value of the vehicle, the colour is another important consideration. Many businesses only allow the stock colours within their policy and if you've got an eye for the wacky, be aware that it may make it less desirable. If people don't want it the value of your vehicle will fall. Even white which is currently in vogue can be a turn off for many drivers.
Environmental performance is fast becoming a key selling point both because we have become more environmentally aware and more efficient cars cost less to run. Vehicle owners are interested in mpg performance, tax bands and emissions more than ever before and demand for hybrids is growing rapidly.
Driver safety is also of paramount importance and with expectations of modern cars rising airbags have become an essential and newer technology such as ESP is fast becoming the norm.
When purchasing a car, whether brand new or on the used car market, think carefully about its specification.
There is a real balance to be struck between what you want, what's nice to have and what's essential, but if you get this balance right it can dramatically reduce the amount of depreciation that you suffer.
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Business Car Magazine © 2020 | Business Car is part of NS Media Group.
