DRIVERS are being warned that a simple light on your dashboard could knock up to £500 off its value – but the good news is, there’s a fix that won’t break the bank.
Owen Gregory, a professional vehicle appraiser at Big Motoring World, spills the beans on how little lights could cost you big when you’re ready to trade in your car.
With the used car market more competitive than ever, getting top dollar for your motor has become a real challenge.
More than 7.2 million second-hand cars changed hands last year, so standing out from the crowd is crucial if you want to secure the best price.
While we all know that scratches, dents, and high mileage can put buyers off, many sellers are overlooking the impact that those pesky dashboard warning lights can have on their car’s value.
Owen said: “If you bring in a car with a warning light on, it’s a bit of a giveaway about the car’s overall condition.
“It tells us there could be an issue, and that might hinder our ability to sell it quickly.”
But don’t panic just yet. According to Owen, not all warning lights spell disaster – some might just require a quick and cheap fix.
Here are the top three dashboard lights you should sort out before heading to the dealer.
Coming in at first is the engine management light with a potential risk loss of £500.
This one’s a biggie. Your engine management light could be pointing to a range of issues, from something as simple as a loose fuel cap to more serious problems like a faulty catalytic converter.
Owen said: “A red light indicates a serious issue, and the car might not be safe to drive.
“An amber light is less severe but still needs addressing.”
Dealers see a car with this light on as a major risk, which could lead to a hefty £500 reduction in your trade-in offer.
So, it’s definitely worth getting this checked out by a mechanic before you think about selling.
Another one to watch out for is the ABS light.
This system is crucial for your car’s safety, and if it’s not working properly, buyers will be scared off.
He added: “If we see this light on during an appraisal, we’ll knock off at least £500 from the trade-in price.
The fault could be as minor as a faulty sensor, which might only set you back around £70 to fix.
But ignoring it could cost you hundreds more when you sell.
And lastly, the service light.
The service light might not seem like a big deal, but it can still shave £200 off your car’s value.
This light is a reminder that your car needs a service – something buyers want to see done before they make a purchase.
If your car is still under warranty, getting it serviced on time is even more important, as it keeps the warranty intact for the next owner.
A full service can cost between £170 and £400, but it could save you from a bigger loss when you trade in.
So, if you’re looking to sell your car and want to get the best price, don’t ignore those warning lights.
A quick fix now could save you hundreds – and make your motor much more appealing to potential buyers.
Meanwhile, if you’re thinking of selling up, perhaps take a look at what a motors expert has revealed about the common mistakes to avoid.
1. Engine Management Light – Potential Loss: £500
This light can indicate anything from a loose fuel cap to major engine issues. A red light signals a serious problem, while amber suggests something less severe but still needs fixing. Ignoring this could slash £500 off your trade-in value.
2. ABS Light – Potential Loss: £500
Crucial for your car’s safety, a lit ABS light is a red flag for buyers. Even a minor sensor fault can trigger it, but not fixing it could lead to a £500 reduction in your car’s value.
3. Service Light – Potential Loss: £200
This light reminds you that a service is due. Neglecting it could knock £200 off your car’s worth. Regular servicing is key, especially if your car is under warranty.
