Lift kits are popular among trucks and other off-roading vehicles. When making modifications to a vehicle, however, it can be important to consider how they will impact the resale value. There are modifications, if they are done right, that can be added that will increase the resale value of a vehicle. Some modifications can decrease the resale value.
Does a lift kit hurt resale value? In general, lift kits hurt resale value. Most people looking to buy a used vehicle do not want lift kits and if they do want a lift kit they’ll likely want it to be done in their own, specific way. Lift kits will especially hurt the trade-in value of a vehicle.
Having a vehicle with a lift kit can make it look cooler. Many factors go into what adding a lift kit does to the resale value. Depending on how exaggerated the lift is, what type of vehicle it is, and what the market is like for vehicles with lift kits, are all going to add to what you can end up getting for a vehicle with a lift kit. It is possible that a lift kit can increase the resale value but as a generality, lift kits decrease the resale value of the vehicle.
How A Lift Kit Affects Resale Value
The most common vehicles that have lift kits are trucks and off-roading vehicles like Jeeps or 4Runners. Lift kits are usually only sought after by people who are fairly into off-roading. To add to that, many off-roaders like modifying their vehicle to their specific preferences. This makes it difficult to resell vehicles with modifications at a profit. That being said, some people may want these types of cars for just a specific interest in the vehicle.
Modifications that decrease the resale value can be a major disappointment; not only are you putting money into the vehicle to modify it, but you are also losing money on the resale. This means that you are losing money twice. In most cases, you are going to be losing money on the resale when you add a lift kit, so it is very important to factor that into your decision of getting a lift kit installed in the first place. Think about how much you want one because it is probably going to cost you more money than just the cost of the lift kit.
What Vehicles Have A Higher Resale Value With A Lift?
With all of that being said, it is possible to increase the resale value of a vehicle. This is going to largely depend on the type of vehicle you have and the buyers that you find. If you have a truck like a Toyota, Ford, or Chevy as well as an SUV like a Jeep or a 4Runner, then it is possible that adding a lift kit can increase the resale value. Not by much though. You are only going to possibly get a few hundred to a thousand dollars more for an added lift kit on these vehicles.
It isn’t guaranteed that you are going to get more money when you lift one of those vehicles since you still have to find the right buyer. There is a very specific niche of people that like these types of vehicles with lift kits. Finding the right customer is important if you want to get the most money from the resale. Advertising to off-roading groups and taking good care of your vehicle is going to help increase your chances of reselling your vehicle at a higher price.
Vehicles with lift kits are very sought after in the world of off-roading because of the size of the boulders and ditches that you have to go through. Many off-roaders look for a vehicle with them already installed since this means that they don’t have to go through the hassle of installing a lift kit themselves. One of the good things about installing a lift kit is that once they are installed there is a very small amount of maintenance that has to be performed.
Outside of regular daily drivers that could benefit from a lift kit, you may also consider recreational vehicles. Side by sides and other UTVs with a Coilover suspension lift can have a drastically increased resale value if you buy a high-quality kit from companies such as ICON, King, and Fox.
Are There Any Vehicles Whose Resale Value Is Negatively Impacted By A Lift Kit?
Any type of luxury truck or SUV is going to be negatively impacted by a lift kit. The biggest reason for this is that the people that are in the market to buy luxury trucks and SUVs may not be interested in off-roading or doing activities for which you particularly need a lift kit. They also aren’t going to want to have a lift kit just to show the boat around. They are already getting that satisfaction from owning a luxury car.
Luxury vehicles lose value very quickly and have a very low resale value compared to what it costs to buy one new. Adding any modifications that take it away from what the original was is going to increase this rate of depreciation. Keeping luxury trucks and SUVs in their original state is going to be the best way to get the most money when trying to resell. To add, luxury cars often already have other bells and whistles that most vehicles don’t, therefore less of a need for modifications.
Since lift kits decrease fuel economy they can be looked at as undesirable. The higher a vehicle is lifted, the more wind resistance it is going to offer. This will decrease the fuel efficiency of the vehicle. People are looking to get a vehicle with the best fuel ratings possible, especially with today’s market and gas prices. Vehicles with lifts are not going to be making that list.
Does A Lift Kit Hurt Trade-in Value?
Trade-ins can be a good option because you don’t have to go through the hassle of waiting for a buyer to show up; you can get a new car and get rid of an old one all at the same price. Trade-ins are interesting because you are only able to get what the dealership is willing to trade with you. The better the condition of your car is and depending on the model you have is going to determine what you can get in return. Dealerships that do trade-ins want vehicles that they are going to be able to sell. And that may not include vehicles with lift kits.
Dealerships don’t like to take risks when they perform trade-ins, they want to play it safe to be sure that they can make some money. Modifications done to vehicles are seen as a risk by these types of dealerships, this includes lift kits. Seeing that adding a lift kit to a vehicle narrows the field for people who want to buy it, dealerships don’t want vehicles with lift kits as much. Vehicles that are in their original condition with no modification and that are well maintained usually fetch the best value for trade-ins.
Most places won’t completely refuse a trade-in for vehicles with a lift kit but it does make the vehicle lose a good amount of its trade-in value. If you have already added a lift kit I would either suggest removing the lift kit before trading in your vehicle or trying to find a private buyer. Finding someone who is into off-roading or who likes lifted vehicles is your best bet for getting the most money out of selling your vehicle.