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Lack of history loses 20% of car value

PUBLISHED: 11:10 11 September 2014 | UPDATED: 11:10 11 September 2014

Not having a fulll service history drops the value of a used car by a fifth on average.

Not having a fulll service history drops the value of a used car by a fifth on average.

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A car being sold without a full service history is worth a fifth less on average than a car with a fully-stamped service book. This amounts to an average of £1,464 for the typical used car sold in the UK with a price of £7,706.

A study by Kwik Fit found buyers expect a 19% discount for cars with incomplete or no service history, which is costing the used car industry £10bn a year in lost revenue.

Almost half (45%) of car buyers say an incomplete service history is a deal breaker as they would not consider buying a car that doesn’t have a full service history.

Older buyers see the greatest value in a full service history with 57% insisting they would not buy a used car without one. This compares to just 33% of buyers aged 18 to 24.

At almost a quarter (23%) of buyers in London expect the biggest price cuts for an incomplete service record – around £1,772. Those in the South West would seek the smallest at 15% – around £1,156.

Roger Griggs, communications director at Kwik Fit, said: “Car owners often skip services to save money but, in the long run, this can end up being very costly. Not only does it reduce the vehicle’s value, it also makes the pool of potential buyers much smaller, making it harder to sell.

“Having a record that shows regular servicing gives prospective buyers confidence that a car has been well maintained, so even if you have one or two missing, frequent servicing is still important.”

A toddler has been rushed to hospital after a serious crash in Barningham this morning.

Police are appealing for witnesses after three women had their purses stolen from supermarkets in the Ipswich and Martlesham areas on Tuesday.

Callum Connolly and Dominic Iorfa visited East Anglia’s Children’s Hospices shop in Ipswich today to help launch the Bag It, Bring It Boost It campaign.

Suffolk’s police and crime commissioner is proposing an increase in the force’s council tax precept of 6.8% – which will add an average of £12 a year to the overall council tax bill of each household in the county.

The resignation of the region’s ambulance trust’s medical director has been announced just a day after it was alleged 20 people died waiting for help whilst the service was stretched.

Paramedics treated two women for minor injuries after a crash in west Suffolk this morning.

A landlord who had tenants living in an overcrowded Tiptree flat with mould and poor sanitation has been ordered to pay more than £10,000.

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