How Much Is a Full Service History Worth?

Research commissioned by Kwik Fit shows that drivers who put off servicing their car to save cash in the short term, could be losing more money in the long term.

The research shows that a full history on a car could increase its value by 26%. The average used car sells for £5,500. A full service can be worth up to £1500.

Kwik Fit found that for 34% of drivers, the service history can be literally priceless, as they would not purchase a car without a full service history.

2010 saw the lowest number of used cars sold in a decade - 6.7 million cars - and buyers a re pushing for hard bargains and no service history can make selling a car that bit harder.

Over 1.5 million drivers (32%) say they place the same value on a service history from an independent garage as they do from a main franchised dealer.

Over 65s are the most likely to insist on a full service history, with 48% saying they would not buy a car without it. For under-45s, this figure drops to 28% of motorists.

People from London are most willing to pay the biggest premium for a car with a full service history, almost 40% more than one without it. Scottish motorists are willing to pay 28% more. Those who live in the North East, Wales and the West Midlands would be willing to pay 20% more for a car with a complete service history.

David White, customer services director at Kwik Fit, said: "It's accepted that a fully stamped service book will increase the re-sale value of a car but this research has been able to put a figure on it: £1,500 is a significant number and makes a big difference to the value of a car when an owner comes to sell. For a more expensive car 26% will equate to a very big number indeed. Motorists with one or two stamps missing should bear in mind that some services will still carry a premium over none at all, particularly if they've been carried out more recently.

"It's not just about the end value though, motorists who get their car serviced according to the manufacturer's recommendations will be rewarded with greater efficiency, better performance and lower on-going running costs.

"The research also highlights that the gap between the perceived benefit of a dealer over an independent servicing centre is closing. Drivers don’t need to pay main dealer prices to maintain their car’s peak value. They can come to Kwik Fit, and we'll put a stamp in their book which could be worth hundreds of pounds."

26 September 2011 Staff

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