Motor Trade Insurance

The Impact Of Missing Service Histories

June 29, 2019 by Logan Biggs

If you are a motor trader involved in the buying and selling of used cars then you are undoubtedly aware of the importance of a vehicle having a full service history from your businesses point of view. Quite simply, if there is an incomplete service history then it may affect how much you will be able to sell the vehicle for.

Set up in 2010, the Vehicle Remarketing Association (VRA) represents the business interests of the second hand car industry including the sale of such vehicles. It is interesting to read that, according to the Vehicle Remarketing Association’s research, if a car or van does not have a complete service history it can reduce the vehicles value by at least 5%. We are sure motor traders will agree that is a significant figure and could have a meaningful impact on the profitability of a business. 

As with MOT records, it would be beneficial if the servicing history of all cars could be maintained on a central database that is accessible by all. So many garages maintain the record of repairs and servicing on their computer systems so surely it should not prove difficult to make this information available to everyone. It would enable prospective purchasers of cars to see this data and provide them with peace of mind that the vehicle has been well maintained.

If more owners of cars realised that by having their car serviced on a regular basis that it could increase the amount they could get when selling their car then more motorists would probably ensure that they get their cars serviced. So, the benefit in having a car serviced is not only that it means it is less likely to break down but also that you may get a higher sale price for it whether you sell it to a garage or in a private sale. It will be interesting to see if a central database of a car’s service history is introduced in the future.

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