Renewing your car’s MOT (ex-lease vehicles around three-years-old) could raise its the selling value by £200-£300, new research has revealed.
A study carried out by analysts CAP showed that the absence of an MOT does not deter the vast majority of dealers from acquiring a three-year-old car . Instead they use it as an opportunity to decrease the price well below the Black Book clean market value .
Around 50 per cent of dealers researched admitted they lowered their offer price by up to £300 compared to a car that includes a current MOT.
Robert Hester, Black Book valuation relationship manager commented: "The majority of three-year-old cars pass the MOT with little or no work required, at much less cost than the £200-£300 most commonly knocked off the value by dealers looking for the cheapest possible high quality retail stock ."
The Black Book study also revealed that nearly one in three car dealers would not consider purchasing an ex-lease vehicle at all if there was no V5 document available.
