Count­ing the cost of a few ex­tras

Yorkshire Post - Motoring - - NEWS -

HOW many pri­vate buy­ers con­sider the re­sale vale of their new car? Are those fancy ex­tras a waste of money when you trade up?

The an­swer is yes and no. It de­pends on what you add, the make and model of car – and who you ask.

“There are plenty of mis­con­cep­tions when it comes to choos­ing add-ons at the time of pur­chase – for ex­am­ple, many peo­ple be­lieve a tracker sys­tem will en­hance the value of a ve­hi­cle, but, in re­al­ity, while the en­hanced se­cu­rity may re­duce your in­surance pre­mium, it will not at­tract a higher re­sale price than a car with­out,” says Joe Pat­tin­son, a gen­eral man­ager in BMW Group Fi­nan­cial Ser­vices.

He cau­tions against ex­ten­sive body work, an un­usual colour, en­gine mod­i­fi­ca­tions, or the car hav­ing sev­eral pre­vi­ous own­ers.

Whereas add-ons like leather seats, me­tal­lic paint and a sun­roof, or panoramic glass roof, will have a sig­nif­i­cant pos­i­tive im­pact on a car’s re­sale price.

Mo­torists who use a per­sonal con­tract pur­chase plan will have the fu­ture min­i­mum value agreed.

“Make sure you se­lect the term of the plan based on how long you ac­tu­ally want to keep the car; don’t ex­tend the length of the plan sim­ply to re­duce your monthly pay­ments.

“It’s also key to re­mem­ber that cer­tain add-ons will en­hance the resid­ual value of the car – and cost you noth­ing. For ex­am­ple, if you pay ex­tra for leather seats which cost £1,000, but en­hance the car’s value by £1,000, then the rental in­crease is con­sid­er­ably less than the (equiv­a­lent) cost of the op­tion,” says BMW’s ex­pert.

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