Unfortunately you would most probably lose more. Modifications do not add value, as a general rule. I believe that if you sell the car as it is, this would net you the smallest loss overall. Or another way of looking at it is fixing it and keeping it longer than you originally intended. The depreciation per year over the extended term that you keep the car will then be slightly reduced.

 

I understand that modifications usually reduce the value of a car, but surley if you had the choice of 2 MY02 Wrx's - 1 that was standard unmodified covered 60k with service history, or one that has covered 60K but has had a full engine rebuild and is basically a brand new engine with Sti performance (all work done by a reputable company), which one would you go for?? I think i know where my money would be going.

And if i get this work done up to this sort of spec, i dont think i woujld be selling it as soon as i first thought anyway.

As you can tell, i really havent got a clue what to do at the moment to be honest.

 

From what I can tell, mods can slightly increase a cars value (be assured that I have looked at this when deciding to go the whole hog on a build) and I think you will lose less if you go for the rebuild than if you just cut your losses. As you say, your car will at least sell easier if not for much more.

I agree that resale values can drop in some instances but I think that is with really in your face (dare I say tasteless if not cheap) modifications that are very personal to the person having them done. On the other hand a sensible rebuild and power hike by a renowned proffessional can only boost value in my opinion.

In my case, the car in good nick will probably fetch £6k to the right person, with the full monty mods I would not feel bad asking £7.5k maybe £8k and wait for a buyer to come along. However, I approached a few folk (including a dealer in Doncaster who specialises in damaged repairable scoobs) and the best offer I got was £1,750.

So I figured £1,750 plus £4,500 to fix equals £6,250. I would get this back if I sold it and so it will lose me no more to get the build done than to sell as is.

Now the crux of it, if I don't sell (and I have no intention of doing for some time) I will now have a car with 320-330bhp, a brand new engine that I can pamper and keep running as sweet as possible.

Ultimately I loved the car before it went pop, no reason why I can't love it again as it will be at least 50% more car than it was when it went away!

I did think about cutting my losses too, but then I thought, put the £6,250 towards and new scooby (probably standard) and wait for that one to go pop or create a far better car with massive assurance that the same thing won't happen again in 6 months time.

If you speak nicely and successfully to your bank manager I think it is a no brainer really!

One word of warning though, like me, don't get carried away with the spec, at one point I was getting a forged 2.5l block with all the gubbins and was heading towards £10k but then reality kicked in and I am now getting the spec listed in the "view my Scooby" bit at the side there, which I think is more than enough for our roads and offers good value for money.

Good luck with your decision (and your bank if you chose that route) !