Aftermarket Accessories: Do They Affect Your Vehicle’s Value?

Depending on the vehicle you bought and your budget, it’s always been easy to add some extra value into the mix, including air conditioning, power steering, power doors, and sound system upgrades. Now, there are even more options available when you buy a vehicle at the dealership.

However, not all of these items have to be installed at the time of purchase. That’s because a whole new market has developed in the last few years based on the consumer desire to customize their car. This is the aftermarket accessories industry. While it’s great to have the ability to bling out your car or add more bells and whistles, the question is: Do aftermarket accessories affect the value of your car in a good or bad way? Let’s find out.

Aftermarket Fun

There is a wide range of possibilities now available through aftermarket companies. You can add a wide range of cool gadgets, such as in-car navigation, a DVD entertainment system, satellite radio, in-vehicle Bluetooth technology and back-up cameras. Or, if you prefer to add a special look to your car, you can install alloy wheels, performance suspension packages, special paint jobs or heated leather seats.

As cars have become more cookie-cutter in their shape and look, consumers have been driven to customize and individualize their rides. Others want to make their vehicles more fun since they have to commute or they want their kids to be entertained while on long road trips. Other aftermarket accessories aid in safety by providing direction or a way to call for help, if necessary.

The Specialty Equipment Market Association, or SEMA, reported that the average U.S. consumer spends about $2,000 on customizing their vehicle within the first year of purchase by adding aftermarket accessories.

But, Where’s the Value?

However, the real question is whether spending all this money on aftermarket accessories offers a return on investment by raising the value of the vehicle. There are two ways to respond to this question.

The first response is somewhat negative. Some believe that the value can be diminished if a person customizes their car so much to their own personal taste that no one else may want to buy it. This is similar to a house where rooms might be painted canary yellow or bright pink versus a soothing shade of beige. If a vehicle has seats with a person’s initials in bright green or skulls and flames are painted on the hood, there might not be a wide market of interest if that vehicle goes up for sale.

However, it’s important to know what adds value and on what type of vehicle. For example, a consumer will expect that a luxury vehicle like a BMW or Cadillac will already have certain features on it. So, if they don’t, they may not sell for as much in the resale market.

Therefore, there are ways to enjoy that special look and still make it highly valuable for sale. One of the best ways to do this is to add accessories that the majority of other consumers like or want. For instance, rims, also known as custom wheels, are popular, easy to add, and are an attractive upgrade to another buyer. Not only do they look great, but they add to the performance and handling, which adds up to a good return on investment.

Another area that is believed to add to a vehicle’s value is most aftermarket accessories that involve mobile electronics. This would include the highly popular aftermarket GPS navigation systems, hand-free devices, DVD entertainment systems, and aftermarket stereo systems (however, stereo systems may soon be replaced with more devices that allow for MP3 plug-ins versus the old school CD player). There are other aftermarket accessories thought to add value, including leather seats and leather interiors, sunroofs and moon roofs, intelligent keys and body kits (bed liners, grilles, step-bars, fascias, running boards, legal window tinting and taillight kits).

Aftermarket Advice

·        When considering what aftermarket accessories to add and how much to upgrade or customize your vehicle, the best advice is to not go overboard.

·        Keep the accessories within reason for the type of vehicle you have, what you do with the vehicle, and in line with your plans for how long you want to keep the vehicle. If you only plan on owning it for a few years, don’t put that much into it. However, if it is your fun car or weekend ride and you’ll be garaging it for years, then make it your own.

·        You may also want to take care that the accessories you add will not void the warranty.

·        Be careful what you add in terms of over-personalizing it because a dealer may not be able to sell it and may only offer you the base Kelly Blue Book value. Or, even worse, you might not be able to sell it at all.

·        Consider sticking with the factory option packages provided by the vehicle manufacturer because these are often the attractive extras that will help when reselling a vehicle. And, in the meantime, you can enjoy the added comfort and convenience afforded by purchasing these option packages.

What’s Your Aftermarket Experience?

What is your experience with aftermarket accessories? Have they helped or hindered the sale of a vehicle? Have you bought a vehicle because of the extras? Tell us below.