Drivers conducting DIY servicing are losing money when it comes to trading in or selling their cars, new research has found.
Consumer car-selling service HonkHonk.co.uk is seeing reductions in the values of ‘home-maintained cars’ which far exceed the savings made by not using garages to carry out vehicle servicing and repair.
As the cost-of-living crisis continues, more people than ever are turning to YouTube tutorials to guide them through oil changes, brake pad replacements and other routine maintenance through DIY servicing.
But initial savings often turn into massive reductions in the value of the car when it is eventually sold.
HonkHonk says it is vital to have an official record of essential servicing or dealers will significantly reduce any price they offer against the car to set against doing the work themselves.
Cars become unsellable
The problem has been recently highlighted by customers of HonkHonk, which brings motorists together with dealers who want to buy their cars, reporting that dealers had turned down good cars because they had no recent service history due to DIY servicing.
Dealers also told the service that some sellers do not appreciate that they would have to vouch for the maintenance of any car they sell, which means repeating any work that the motorist has already done.
In some cases, DIY servicing means a car may have no takers at all on the HonkHonk marketplace.
“We are all feeling the pinch and it is natural to save money wherever possible, but in the case of some car service items doing it yourself, or skipping the work entirely, can cost far more in the long run than what you initially saved,” commented HonkHonk CEO, Sebastien Duval.
“It is vital to understand that dealers must know that a car was correctly maintained because they are responsible for warranting its quality for the next buyer. They cannot rely on a seller’s word and so they will have to build in the costs of essential service and maintenance when they make an offer to buy the car.
“According to the experience of HonkHonk users on both sides of the transaction, this often means a reduction in the value of the vehicle in excess of anything that was saved by doing DIY servicing at home.
Impact of DIY servicing on values
To illustrate the issue in cash terms, HonkHonk reveals these real-life examples of an initial saving turning into a much bigger loss, using three current cars for which customers are struggling to find acceptable offers.
Range Rover Sport with 45,000 miles
Trade value in excellent condition and full service history £35,000.
Two entries missing from service manual.
Servicing money saved – between £600 and £2,000.
Best offer £29,500.
Cost of skipping warranted services – up to £4,900.
Because this car has not sold for 30 days it has also lost an extra £800 in trade value since being listed for sale.
Mini Cooper diesel with 30,000 miles
Trade value in excellent condition and full service history £13,000.
Services skipped for years 4 and 5.
Servicing money saved – between £400 and £750.
Best offer £11,500.
Cost of skipping warranted services – up to £1,500.
Ford Fiesta 1,6 Petrol with 65,000 miles
Trade value in excellent condition and full service history £4,000.
Only 6 warranted services in 12 years (against 11 recommended).
Servicing money saved – around £1,200.
Best offer £2,250.
Cost of skipping warranted services – £1,750
