Does self-build affect residual value?
Discussion
Chassis number is different for self build. I've been assured it makes no difference to value!! Quality of build is critical - some builders are fanatical and turn out better cars than the factory as they spend far more time on them. All builds have to go through IVA and I think back to Caterham for checking.
I built mine, so I might be biased..............
Caterham do a free (as long as they don't have to do much!) post build inspection, so as long as there is evidence that the factory have checked the car over after the build, I would be 100% happy to buy a kit built Caterham. As adavy said, the IVA test is now compulsory so any recent Seven will have had a really thorough check over during that too.
When I built a Seevn produced by another manufacturer back in 1990, there was no factory check and only an MOT to get it on the road. Looking back, I don't think that was a great idea. Fortunately, I had a thorough MOT guy who spotted a couple of suspension bolts that I hadn't tightened!
Caterham do a free (as long as they don't have to do much!) post build inspection, so as long as there is evidence that the factory have checked the car over after the build, I would be 100% happy to buy a kit built Caterham. As adavy said, the IVA test is now compulsory so any recent Seven will have had a really thorough check over during that too.
When I built a Seevn produced by another manufacturer back in 1990, there was no factory check and only an MOT to get it on the road. Looking back, I don't think that was a great idea. Fortunately, I had a thorough MOT guy who spotted a couple of suspension bolts that I hadn't tightened!
The post build check is just that - a check. Its purpose is to check the car is safe, and that it should pass IVA. It is perfectly possible to build a truly horrible car that will still pass IVA, and not kill anyone. The owner will be given a list of faults, but whether they choose to do anything about them is entirely up to them.
When I was doing them I would refuse to stamp the service book until the car was brought up to scratch, after a couple of particularly dangerous builds. While anyone *can* build a Caterham, a lot of people shouldn't.
When I was doing them I would refuse to stamp the service book until the car was brought up to scratch, after a couple of particularly dangerous builds. While anyone *can* build a Caterham, a lot of people shouldn't.
Depends whether you’re buying or selling...
For me, as a trained engineer with plenty of experience mantaning cars, I think my attention to detail and careful unrushed build will result in a significantly superior car to something rushed through the factory as fast as possible.
or... would you buy a car built by a ham-fisted amateur rather than by a team with the full backing of the manufacturer using specialised tools and equipment who have years of experience and have done this dozens of times?
As above, all cars go to Caterham for the PBC which supposedly identifies all issues that need correcting (yeah, right... another story in my case) ahead of the IVA. The latter should confirm the car is safe. Whether it’s well-built, as Stuart suggested, is moot.
For me, as a trained engineer with plenty of experience mantaning cars, I think my attention to detail and careful unrushed build will result in a significantly superior car to something rushed through the factory as fast as possible.
or... would you buy a car built by a ham-fisted amateur rather than by a team with the full backing of the manufacturer using specialised tools and equipment who have years of experience and have done this dozens of times?
As above, all cars go to Caterham for the PBC which supposedly identifies all issues that need correcting (yeah, right... another story in my case) ahead of the IVA. The latter should confirm the car is safe. Whether it’s well-built, as Stuart suggested, is moot.
LiamV12V said:
Hi, have fancied building a Caterham for many years now and next year it might just happen.
Something I’ve always wondered is whether a self-built car is worth less than a factory built one, and indeed, is there an easy way to distinguish between the two?
Cheers, Liam
It is an assembly job, as others have said take your time, when I built my original 7 I just popped along to the factory to double check which way round something fitted. This is an assembly job, be methodical and take it step by step and enjoy the build, limited cutting or drilling personally I used Caterham to drill and fit fasteners (they know exactly where the chassis tubes are) Remember It's not an engineering project its an assembly one. You probably wouldn't be able to tell the difference between a nicely assembled self build when you compare it against the factory one, just remember to double check and look and take pictures of the factory ones so yours will be a perfect build Something I’ve always wondered is whether a self-built car is worth less than a factory built one, and indeed, is there an easy way to distinguish between the two?
Cheers, Liam
For any half decent spanner man, they are really easy to build. Then anything that falls off will do so in a relatively short timeframe, so I suspect the outcome is pretty much the same. Also if you look in the classifieds you won't see any differentiation between home or factory built.
Mind you, am I right in thinking that there are some high spec models that Caterham don't sell in kit form?
Interestingly, my R500k had areas of the chassis tube coating scratched off on delivery. I was pretty livid. Mind you,it was cheap in those days... a R500 kit at £28k iirc. Caterham said they'd sort it which meant painting over the scratched areas with black paint. Not very impresssed. And the point of this story, I think most people buy on condition, so there is no stigma to home build in my view if you do a good job.
Bert
Mind you, am I right in thinking that there are some high spec models that Caterham don't sell in kit form?
Interestingly, my R500k had areas of the chassis tube coating scratched off on delivery. I was pretty livid. Mind you,it was cheap in those days... a R500 kit at £28k iirc. Caterham said they'd sort it which meant painting over the scratched areas with black paint. Not very impresssed. And the point of this story, I think most people buy on condition, so there is no stigma to home build in my view if you do a good job.
Bert
LiamV12V said:
That’s all good to know, I hoped common sense would dictate that anyone willing to pay £30k for a Meccano set would put it together as well as or possibly better than the factory.
It isn't a Meccano set - it does require a certain amount of common sense, and it never fails to amaze me at the stupid s
t people do when building them.It's probably worth pointing out that a kit warranty is only for parts.
LiamV12V said:
That’s all good to know, I hoped common sense would dictate that anyone willing to pay £30k for a Meccano set would put it together as well as or possibly better than the factory.
Has anyone got a feel for what proportion of Caterhams actually are self-built?
Cheers
https://www.lotus7.club Blat Chat isn't what is was but its still a good source, you will find a local meet near you and fellow 7 owners so you may want to go and have a chat. Ive built one and had a factory one and really wouldn't worry about residual values, its more about a standard car (as the factory would supply it as apposed to customer mods as this will/can affect if someone wants to buy it at a later date). Has anyone got a feel for what proportion of Caterhams actually are self-built?
Cheers
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