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Old 07-28-2012, 05:56 AM   #1
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Post Mods add value to your car?

Not sure if this is the right place to put this but I guess it will get moved if need to be.

When you mod your car( any year and model), doesnt matter what mod it is from engine mod to exterior mod ( wings, bumpers, Etc) does it add any value to your car what so ever according to KBB or nada worthyness?

I saw this on another forum and kinda wanted to see what yall thought about this.
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Old 07-28-2012, 06:11 AM   #2
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Obvious appearance mods will add value but really depending on the cars overall condition is what really keeps the value.

Performance mods, not so much. Private party sales, you might be able to get a little extra for your upgrades but as a trade in, it's better to sell your mods separately.

If you're trying to increase your cars insured value, then that depends on your insurance provider. That's just my speculation.
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Old 07-28-2012, 06:25 AM   #3
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Re: Mods add value to your car?

So if you have a 04 GT that valued at say 9 grand according to nada. You put a body kit on etc, it cost say 2 grand painted, installed how much if any would that increase the value of the car?

So if someone hit you and total the car, you had 2 grand in the body kit, and 4 grand in engine mods but that persons insurance only offers to pay for what the car is worth (9k) according to nada, are you legally able to go after the price for the mods although is doesnt increase the value of the car?

The figures above are not correct just throwing out figures so dont anyone say thats too much or not enough.

On my GT I just did liability only, reason for that is because if it gets wrecked and total i would be at a loss anyway for the money I have put in it. I rather cover the other person and deal without on mine then get sued by them if it is my fault.But since reading this other thread on another forum I might go ahead and get full coverage on the GT, it would only cost me 40 bucks more. I get get a 08 imapla and the GT fully covered for 120 a month.
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Old 07-28-2012, 06:48 AM   #4
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Re: Mods add value to your car?

Always run full coverage...thats the best advice i can give. If not for full coverage covering a different stang i use to own id probably be in a cheap 4 banger since i couldnt afford another stang right off the bat.

In most cases mods take value from a car in the perspective of a trade in. Private sale as stated it can sometimes help but it also lowers the type of pltential owner because they must like the visuals you like.
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Old 07-28-2012, 06:52 AM   #5
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If you can get full coverage on your car for $40 extra, I'd say do it because it's not only covering your car, it's also covering you in the event that you get hurt or if you get hit by an uninsured motorist.

As far as body kits and performance mods you're likely to get squat. You could hire a lawyer and they might be able to get you a little more but then again, you'll just be handing it over to them and then some.

I had a Jeep back in the 90's. It got stolen, gutted and torched. I was covered by Allstate and they went by receipts and photos I had before the theft. They reimbursed me for my stereo system, lift kit, wheels & tires and even my snorkel breather kit.

It really depends on your coverage and provider.
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Old 07-28-2012, 06:54 AM   #6
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Re: Mods add value to your car?

Quote:
Originally Posted by southernstang00 View Post
Not sure if this is the right place to put this but I guess it will get moved if need to be.

When you mod your car( any year and model), doesnt matter what mod it is from engine mod to exterior mod ( wings, bumpers, Etc) does it add any value to your car what so ever according to KBB or nada worthyness?

I saw this on another forum and kinda wanted to see what yall thought about this.
Simply put, no, mods do nothing to increase the value of the car. Usually as soon as you do this you are catering to a niche market. Many people would see it as something they would have to change back if they did not like it, and they could buy a similar car with nod mods and make it their own way. Now in the case of mustangs, you may be able to make an argument that it would increase value, but really only with another enthusiast. you would be saving them the time and money of doing it themselves. but you will never get out of it what you put into it.

A car is only worth the amount of money people are willing to pay for it.

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Originally Posted by southernstang00 View Post
So if you have a 04 GT that valued at say 9 grand according to nada. You put a body kit on etc, it cost say 2 grand painted, installed how much if any would that increase the value of the car?

So if someone hit you and total the car, you had 2 grand in the body kit, and 4 grand in engine mods but that persons insurance only offers to pay for what the car is worth (9k) according to nada, are you legally able to go after the price for the mods although is doesnt increase the value of the car?

The figures above are not correct just throwing out figures so dont anyone say thats too much or not enough.

On my GT I just did liability only, reason for that is because if it gets wrecked and total i would be at a loss anyway for the money I have put in it. I rather cover the other person and deal without on mine then get sued by them if it is my fault.But since reading this other thread on another forum I might go ahead and get full coverage on the GT, it would only cost me 40 bucks more. I get get a 08 imapla and the GT fully covered for 120 a month.
Many insurance companies will cover mods so long as you tell them and are able to furnish receipts. your premiums may rise some though.
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Old 07-28-2012, 06:55 AM   #7
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Re: Mods add value to your car?

Yep my full coverage included all mods thag i had receipts for as well...which was nice seeing how i just bought new tires 3 months before the crash.
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Old 07-28-2012, 07:02 AM   #8
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Where's your crash thread???
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Old 07-28-2012, 10:32 AM   #9
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You can skip to the end if you don't want to read my little story lol

I'm 21 and I'm on my 3rd car. I worked since I was 16 and saved money to buy my first car, which was a 1998 Cavalier, paid $3000 for it. Used that car to get a better job as a delivery boy. Being my first car I ran that sucker into the ground, I didn't have anyone to teach me basic maintenance. It was all stock and it lasted me til I drowned the engine during a flood, it actually ran a month after the flood. Crap car, but it had heart, it wanted to run and it fought til it's very last cylinder. Lol

Second car was a 2001 Toyota Celica modded up real nice looking, friend of mine bought it off auction for 3000, sold it to me for 4000 including tax and license. It had slammed suspension, custom paint, Lamborghini doors, intake and all the usual ricer bolt on, 110k miles. This was the first car I babied. It also ran like complete s**t after the first month I had it. The aftermarket parts failed, lowering springs caused the stock struts to fail. Intake was throwing up CEL on and off. Lamborghini door nearly decapitated me when the lifts went out. It was a nightmare and I told myself I would never get another modded car again even if it looked nice.

After a year of constantly fixing that car I finally bought my 2004 Mustang GT Premium Convertible. Completely stock 60K miles, it ran strong and clean. Since I've had it I've gotten lower control arms, BAMA tunes, CAI, O/R Midpipe and cat back. I did a lot of research and made sure I did everything correct to install these. My stang runs great and rides like its still new and there's not a day that I worry about it not being able to get me where I need to go and back.

Bottom line is that I learned not to trust modded cars. You never know if the owner before you took the time to do them right. You can buy a mustang with a blower installed, but you'll never know if he built the engine correctly until you've driven it for a few months and it fails on you. I learned from my mistakes. I've had friends with the same stories as mine. I only know of one person personally that had bought a modded WRX and that car ran like a charm, but he paid a pretty penny for it and he knew what signs to look for and he was a Subaru fan. Would I buy another modded car? No, not at full price, unless that guy had every receipt for the parts and installation. I've kept records of all my mods and I also store the OEM parts so when I do sell the car, I'll pass them on to the new owner. Thats If I ever decide to get sell my beloved Pony. More mods, more risk.
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Old 07-28-2012, 11:06 AM   #10
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Re: Mods add value to your car?

well I went with liability because I was leaving and it was just going to sit there and be driven down the street about a mile and back. But I think when I get home im going get full coverage for the extra 40 bucks.

Thats why I wont buy a modded car because some people think that they can throw a charger on a GT and then try to sell it more then what it is worth. Far as insurance playing for the mods, yes they might insure the mods like said above but you pay a little more for insurance for the mod protection. I guess it just depends on what the situation is and compaines that you have insurance with.
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Old 07-28-2012, 04:53 PM   #11
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Quote:
Originally Posted by southernstang00
So if you have a 04 GT that valued at say 9 grand according to nada. You put a body kit on etc, it cost say 2 grand painted, installed how much if any would that increase the value of the car?

So if someone hit you and total the car, you had 2 grand in the body kit, and 4 grand in engine mods but that persons insurance only offers to pay for what the car is worth (9k) according to nada, are you legally able to go after the price for the mods although is doesnt increase the value of the car?

The figures above are not correct just throwing out figures so dont anyone say thats too much or not enough.

On my GT I just did liability only, reason for that is because if it gets wrecked and total i would be at a loss anyway for the money I have put in it. I rather cover the other person and deal without on mine then get sued by them if it is my fault.But since reading this other thread on another forum I might go ahead and get full coverage on the GT, it would only cost me 40 bucks more. I get get a 08 imapla and the GT fully covered for 120 a month.
Get full coverage!!! I had a 98 GT totaled it with 205,000 miles and some aftermarket items and got $6000 from the insurance company. Way more than I thought I would get. I was hoping to get 2k for it. Almost shat a brick when they told me how much they were going to give me.
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Old 07-29-2012, 03:37 AM   #12
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Re: Mods add value to your car?

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Get full coverage!!! I had a 98 GT totaled it with 205,000 miles and some aftermarket items and got $6000 from the insurance company. Way more than I thought I would get. I was hoping to get 2k for it. Almost shat a brick when they told me how much they were going to give me.
oh wow I prolly would have too....I just hate to pay full coverage on a car that sits in the garage most of the time.
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Old 07-29-2012, 08:57 AM   #13
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Which insurance company paid out?
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Old 07-29-2012, 09:30 AM   #14
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Which insurance company paid out?
State Farm. Also let me add my friend had a 98 Cobra with a few mods. Totaled it and they gave her $10000. In 98, it was used, she only paid $20000 for it. After 13 years and 200,000 miles she got half her money back. I'm just saying. She has state farm as well. Actually we have the same agent. I kept full coverage because it was my dd. Two months before my accident my agent tried to get me to drop to liability. She said I was wasting money because of the age of my car. She tried to say I would only get like $2000 for it minus my deductable. I told her that will be $1500 more in my pocket than I have now. Plus I told her the day I drop full coverage will be the day I total it.
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Old 09-28-2012, 04:42 PM   #15
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I think sometimes they do add to the value of the car
When my Friend totaled his car the insurance company took in an extra cost for stripes that we put on the car so I guess it just depends on the company
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Old 09-28-2012, 04:54 PM   #16
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I think sometimes they do add to the value of the car
When my Friend totaled his car the insurance company took in an extra cost for stripes that we put on the car so I guess it just depends on the company
That I can see but not adding a supercharger and stuff.
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Old 09-28-2012, 05:49 PM   #17
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I think maybe appearance mods will get a little more. Same thing with my insurance. They gave me a little more cause of the different rims. I guess if you showed them a folder full of receipts they would consider paying a little more.
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Old 09-28-2012, 09:27 PM   #18
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Yeah, it sure seems like mods do not increase your car value. There is always that one person who is looking for certain or fully modded cars, but those people are hard to find.

As for insurance, you might need to go with a classic car insurance company, like Hagerty. They might give you full coverage that could also cover your mods.
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Old 10-01-2012, 10:32 AM   #19
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Yeah, it sure seems like mods do not increase your car value. There is always that one person who is looking for certain or fully modded cars, but those people are hard to find.

As for insurance, you might need to go with a classic car insurance company, like Hagerty. They might give you full coverage that could also cover your mods.
I can see appearance mods maybe, but not chargers, and stuff like that. I put the 98 cobra convertable under a company just like Hagerty and its call America collectors insurance. Now, that is dealing with USAA so I dont know if its something they are doing or its a third party company but it saved me like 120 bucks compared to reg insurance.
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Old 10-01-2012, 10:46 AM   #20
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generally it depends, it depends on the target market and what the mods are. If the mods are done right such that a potential buyer would want them then they will add a little value.

You wont get 100% return back out 99.9999% of the time, expect 25% to 50% back depending on if its its what the buyer would want or do etc.

If its a mod they dont like or dont want that wont give any return and may hurt value.
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Old 10-01-2012, 10:46 AM   #21
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Quote:
Originally Posted by southernstang00

That I can see but not adding a supercharger and stuff.
My insurance company ( State Farm ) will let you ADD your mods onto your plan. Like if you bought a 7k supercharger they would warranty it you just have to fill out some papers and of course pay more per month.
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Old 10-02-2012, 03:44 AM   #22
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overall condition is what really keeps the value
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Old 10-05-2012, 10:25 AM   #23
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generally it depends, it depends on the target market and what the mods are. If the mods are done right such that a potential buyer would want them then they will add a little value.

You wont get 100% return back out 99.9999% of the time, expect 25% to 50% back depending on if its its what the buyer would want or do etc.

If its a mod they dont like or dont want that wont give any return and may hurt value.
aw okie I see where you are coming from on this.

---------- Post added at 10:22 AM ---------- Previous post was at 10:21 AM ----------

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My insurance company ( State Farm ) will let you ADD your mods onto your plan. Like if you bought a 7k supercharger they would warranty it you just have to fill out some papers and of course pay more per month.
im going to check this out with my insurance company since I just put a KB on mine

---------- Post added at 10:25 AM ---------- Previous post was at 10:22 AM ----------

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overall condition is what really keeps the value
Yes, I do agree with you on that but I noticed this too along with the overall condition which I think is BS if you ask me. I was up at the dealership with my 98 cobra, well I wanted to test drive a 03 cobra so I can had to go along with like im buying the 03 cobra. I know my 98 cobra was owned twice with me being the 3rd owner, well they knocked off like 2-3 grand because THEIR system said it was own 8 times! I was like dude thats a scam, yall say that to lower the cost of buying my car to turn it around and make a killing on the mark up.
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Old 10-05-2012, 08:01 PM   #24
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Alot of insurance companies will give your car extra value if you have reciepts for them.
Gieco dropped me when I listed my mods to get them covered with an extra rider for
modifcations. I totaled a 97' Cobra not long after having the heads done, and adding a few other mods. AllState wanted to give me $7400 for it, aftr faxing them all the reciepts for the engine work, and mods they gave me $11400. And I bought the car
back from the for $1k and sold it for $3k on ebay. All in all I came out pretty well.
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