Even used cars are like gold dust ‘What Car?’ Research has shown that the biggest factor not mentioned is the previous owner’s habits and lifestyle choices, and this can reduce the value of the car when it comes to resale.
When our car insurance customers determine the value of a used car, the first things they consider are the mileage, service history and condition of the car. However, research shows that personal habits play a major role in how much consumers are willing to pay.
‘What car?’ After surveying 2,700 drivers, the questionnaire had several interesting results. Some of these preferences are universal, others are individualized. Worst habit of all? Smoking!
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Does smoking in your car affect its value?
85% of consumers will not buy a used car. This will come as no surprise to non-smoking readers than those who don’t like the way the smell sticks to the upholstery.
However, there is no doubt that drivers smoke out the window. In this case, the smell probably wouldn’t stick. However, the aversion to the smell or presence of exhaust fumes in a car varies between people.
- More than four in ten respondents said they would expect to see the price reduced by 15% if the previous owner smoked in the car.
- More than 25 percent of respondents said they expect to pay between 5% and 10% less for a used car.
- 21% said they expect to pay between 10% and 15% less.
The results are in. People don’t want to buy cars that other people smoke. When they do, they expect the price to drop significantly.
Does transporting other pets affect the value of your car?
Unsurprisingly, 47% of the 2,700 motorists surveyed avoid models that carry pets at all times. Furthermore, this can depend on various factors such as how clean the owner was and (especially) what kind of pets the seller had.
I would put rats and birds under the list of acceptable pets. For some people, even sharing a place where a boar used to be is a reason to refuse any car.
- 38% of buyers said that they would expect to reduce between 5% and 10% if the opponent, canine or feline was already a passenger in their future car.
- 26% expected to pay about 5% less for a car with a pet.
- 18% of people said they would expect to see the list price reduced by 15%.
Can hauling things with your car cause problems?
61% of respondents said they could not think of a model that was used to pull. This is because the car’s engine must have been under a lot of stress when towing a boat, trailer or trailer for long distances. The suspension may have been affected, especially if the vehicle tows large objects or vehicles frequently.
If a buyer is looking for a tow truck, they must weigh the cost of installing a tow truck against the damage to the vehicle from previous towing. Many feel that towing puts ‘undocumented’ problems on the car, outside of what the MOT and mileage would show.
- 63% of survey participants expected to pay less for a used tow truck.
And finally, how do children see the value of a car?
This is surprising, because I would think that owners who had small children would not be eligible if they did not properly test the car. Obviously, this is not true.
- 16.8% of buyers would avoid used cars for families with young children. Maybe the risk of getting too sweet or disposable is too much for some?
- 42% of respondents expect to pay less for a car that has carried young children in the past.