New research shows that over three quarters of motorists would not buy a used vehicle unless it has a full, or nearly full, service history.
The study by BookMyGarage.com found that 79% of drivers would prefer to know the service history of a vehicle before investing in it. A total of 42% of those surveyed said they would insist on a full service history, with not a single missed service.
With drivers skipping servicing due to the cost-of-living crisis, they could be damaging their chances of selling their vehicles in the future. Even if the car is mechanically fine at the point of sale, without a decent history, any hidden issues would remain unknown to the buyer.
Despite a huge proportion of motorists claiming they would only buy a used vehicle with an entirely full service history, the study also reveals that less than half of motorists would consider servicing their car before selling. This compares to the 60% that would get their car MOT tested before selling.
Service history leads to discount?
The research found that 49% of those surveyed would expect a discount of between 10 and 30% on a used vehicle that lacks a full service history, showing the significant impact skimping on maintenance can have on the resale value of a vehicle.
While annual services aren’t mandatory, they are highly encouraged to ensure the optimal performance and reliability of the vehicle. Failure to complete regular vehicle services could lead to mechanical issues that are costly to rectify.
“While the financial situation in the UK continues to impact millions, it is understandable why many drivers may be tempted to not get their vehicle serviced,” commented Jessica Potts, Chief Marketing Officer at BookMyGarage.com.
“However, skimping on servicing is a false economy. The short-term monetary saving will be outweighed by the impact on the resale value of the vehicle, and it risks causing significant mechanical damage – especially to the engine – which will be far costlier to repair or even uneconomical.”
According to a study in December by the company, one-in-three motorists say they plan to skimp on their vehicle’s service due to the cost of living crisis.
“We recommend motorists shop around to find the best price for their vehicle’s service. Motorists should also check what type of service their vehicle is due – for example, if the last service done was a major service, then only a minor or interim service will be required which could cost half as much,” added Potts.