You may have noticed how people who desire for their homes to increase in value will do so by renovating them. And it often works if it is done properly and well. Unfortunately, it is normal for people to take a phenomenon that works for one thing, and think that the same rule will hold true if they apply it to other big-ticket items. And cars are pretty big when it comes to asset value. So, it is no surprise that folk will add aftermarket features to their car, thinking they have made their car more valuable.
The sad truth, however, is that these features don’t just fail to increase the value of the cars that they are added to. They often actually do the opposite. The value of the vehicle in question actually decreases due to these additions. Why? Let’s find out!
There is nothing implicitly wrong with personalising a set of wheels. But you must accept that doing so is making your car less valuable. And one way it is doing so is by making your car appeal to a narrower range of prospective customers. The more a car is in demand, the more power you have when it comes to setting a price that they will be happy with.
But if you have add-ons that only certain or some people of a particular persuasion are interested in, you can expect less people to be interested. The more generic and homogenised a vehicle is, the wider the potential market for it is going to be.
Here are a few add-ons to avoid like the plague if you want your car to be as valuable as it can be. You will be able to sell it for the best price if you simply say no.
Enhancements for the Engine: There are engine enhancements that can provide more power and speed to the engine. Most people don’t want these enhancements. They want what the car came out of the factory with.
Parts and Paint Job that Are Customised: This covers a wide range of things. We are talking about mods that are entirely aesthetic, like a custom paint job. Spinning rims, spoilers, tinted windows and under car neon lights will all lower your car’s value. Don’t get them or any other fancy aesthetic modifications. It may look cool but you will pay the price later.
Exhaust: There are mufflers that don’t muffle the sound of the engine. Instead they will make the car louder. Who wants to buy a car that is louder than the make and model normally is? No-one. That’s who. If you didn’t know, now you know.
Lights: Aftermarket lights can be illegal at worse, poorly installed at semi worst, or stupid looking at best. Don’t get them.
Wheels: The same principal applies. But the added problem of changing trends also adds to it.
Don’t get aftermarket modifications to your car. It will be worth less money, and why would you want to spend money on making your car worth less money. It is wrong headed. Rather, check out 5 ways to increase the market value of your car.