| The Importance Of Options | ||
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(Thu 19 Apr 07) A recent survey by Manheim Auctions once more highlights the effect that factory-fitted options can have on a car's resale value. Manheim asked nearly 100 of its top used car buyers for their opinions on the effect of various optional extras on family cars, compact executives and full-sized executives. The results showed a similar trend in all three categories, with leather upholstery and satellite navigation having the most beneficial effects on residuals. The right paintwork was also considered important, with some respondents saying they wouldn't even bid on a car at auction if the colour was wrong, and especially if it was solid rather than metallic. In approximate order of importance, the other main influences on resale prices were climate control, a sunroof and a DVD/TV system. Manual rather than automatic transmission wasn't mentioned in two of the categories, but it makes a big difference among the full-sized executive cars. An average three-year old vehicle of this type can be worth up to £1800 less than normal if it has a manual gearbox. "This research simply reflects what trade buyers think," says Manheim's Group Communications Director Rob Barr, "and it's these guys who really determine the price of used cars. "The message is simple – motorists should ignore options at their peril when buying their next new car. They may be lucky and get it right, but if they get it wrong, they'll suffer the financial consequences." |
