Car modifications are on the rise and with movies like Fast & Furious, cars with modifications are now becoming a mainstream trend. For first time car owners, they are willing to spend on modifications like sport rims, wheels, branded steering wheel, and so on. Usually for car owners, modifying their car is all about making it more attractive, enhancing the car’s performance and to suit their personality. It helps them stand out, especially from the mass of cars that look exactly the same to each other on the roads.
However, what will happen to your car’s resale value after it’s been modified? Will your car further depreciate or might you be able to sell it at a higher value? And, being a buyer, will you spend extra on your dream car that comes with these extra bells and whistles?
Let us have a peek on few current car trends that are popular for modifications and the general costs of modifying, vs the resale value of car with modifications.
1. Continental cars – BMW, Mercedes, Volkswagen, Audi
Image by CarSifu
Most of these original continental cars come in few ranges like sports, limited edition, facelift, etc, which does not require much modification. However, for a car enthusiast, they will find some finishing touches to give it that extra edge, mainly in design rather than for performance, since German cars are already quite known for their superior engineering.
- ECU re-map – RM 4,000 onward
- Exhaust system – RM 6,000 onward
- Suspension – RM 4,000 onward
- Imported body kit (full kit or partial) – RM 4,000 onward
- Sport rims (per set) – RM 5,000 onward
- Tires (per set of 4) – RM 4,000 onward
Average total for modifications – RM 27,000
The value of a used car costs around RM 70,000 and above. The used car’s price is based on the range, specification, manufacturing year, and sometimes including the modifications as well.
For European cars, they are well-known for performance, stability, comfort and luxury. Modification on these cars are to further enhanced the car’s performance like the exhaust and engine so the car may have stronger horsepower. As for the exterior, it’s a person’s hobby to treat their car with additional accessories.
Car enthusiasts are people who appreciates modifications, and they may spend extra just to buy or collect these cars, which to some are ‘collectors items’. Whereas for a person who just wanted comfort and luxury, they may not understand the value of these modifications, and will not spend anything extra.
2. Japanese Cars – Honda, Mitsubishi, Mazda, Subaru, Toyota
Image by Mitula
The icing on the cake!! Majority of the Japanese car owners surely will
modify beautify their car on both exterior and performances. Most common modified items are:
- Exhaust system – RM 4,500 onward
- Suspension – RM 3,000 onward
- Imported body kit (full kit or partial) from Japan – RM 5,000 onward
- Sport rims (per set) – RM 4,000 onward
- Tires (per set of 4) – RM 2,500 onward
Average total for modification – RM 19,000
Usually for Japanese car lovers, they will remain loyal to ‘JDM‘ cars as there are a wide range of modifications that they can do. A modified car will be sold to another car enthusiast who shares the same passion, hence, they will pay for the additional bling, but depending on the car’s specs, modifications and performances.
3. National Cars – Proton and Perodua
Image by Mekanika
Our national cars are also a favourite amongst car enthusiasts. Most of the original cars only come with very minimal accessories, so this would be a great excuse to modify your car to no end!
Most common car modifications are:
- Add on supercharger/turbo – RM 10,000 onward
- Change ECU – RM 3,000 onward
- Exhaust system – RM 2,000 onward
- Engine modifications – RM 5,000 onward
- Sport rims – RM 2,000 onward
- Tires – RM 2,000 onward
Average total for modifications – RM 24,000
Our national cars’ resale rate is faster compare to European or Japanese cars as it’s more affordable. Many owners will hold onto their car for a long time before switching to a new one. Hence, they will start modifying their cars to give it an extra boast in stability, performances and a sleeker look! At the end of the day, whether you are a car modification enthusiast or dressing your car up to suit your personality, think before you make any changes on your car, as it could hamper your car’s resale value.
Buying is an emotional experience, so imagine if you had pimped your ride with macho accessories only to find your potential buyer is a feminine housewife? Modifying your car certainly limits your buyers pool, especially if your modifications are very specific and unique.
It’s certainly very subjective. If another person shares your same passion and is looking to buy a pre-loved car, then you are in luck! You could probably tell this person all the modifications you have done and that person would also be able to understand and appreciate what your work, and be willing to pay more for your car then the average market rate!
As for the buyer, they too would like to own their dream car within their budget. The verdict? It depends on what you have modified, as well as who is your buyer! In saying that though, as modifying your car limits the type of buyers that would be interested, your chances of getting more bang for your buck is less.
IMPORTANT: Do take into consideration when modifying your car that it’s within the rules and regulations, following the safety guidelines from JPJ and do not go overboard if you intend to resell it.