Van prices continue to fall
Tuesday 24 August 2010 Back to Blog
The average sale value of second hand vans fell for the third consecutive month in July, new figures have revealed.
According to BCA's latest Pulse Report, commercial vehicle values averaged £4,112 across the board in July, a fall of £168 (3.9 per cent) compared to the previous month.
The news may encourage some to turn to van contract hire as a means to avoid losing large sums on a vehicle's resale value.
In particular, part-exchange values saw a significant fall, down £187 to £2,295 - equivalent to an 8.1 per cent decrease - compared to June.
"The budget sector had seen rising prices due both to the growing demand and relatively slim volumes of stock available. Those factors are now less apparent and values have softened as a result," commented Duncan Ward, BCA's general manager of commercial vehicles.
It was recently reported that Vehicle database firm HPI has recorded an increasing in the number of 'cloned' vehicles coming onto the used van market.
This is where criminals disguise the identity of a stolen or unroadworthy vehicle.