Latest figures released by the BCA show that values for nearly-new and part-exchange stock has seen a riseLatest figures released by the BCA show that although overall values for LCV’s have continued to drop in September in the fleet and lease sector, values for nearly-new and part-exchange stock has seen a rise.
Values for fleet and lease vans fell by 0.75 per cent to £3,481, whilst part-exchange and nearly new vans increased by 2 per cent to £2,032 and the average value of nearly-new vans increased by 2.9 per cent to £9,126. This was the second successive monthly increase in this sector.
Duncan Ward , BCA’s UK Business Development Manager – Commercial Vehicles, comments “Although it would be misleading to say the market came back with a vengeance in September, there was an upturn in activity in the auction halls and a fragile confidence returned to the marketplace. Buyers were out in bigger numbers and there was plenty of interest for clean, straight CV’s that were ready to go straight back to work. As a result, van values tended to stabilise and overall there was little price movement between August and September.”
With the new van sector suffering due to the lack of financing opportunities from lenders, the budget sector of vans valued up to £3000 has strengthened. These types of used vans are affordable to retail customers who might already have the cash at their disposal or can find a way to fund the purchase themselves.
Ward added “There are plenty of car-sized vans in the marketplace and quality is the key to success. Vans with proper retail specifications, nicely presented and sensibly valued are selling well.
“In the panel van sector, demand for the ‘one-tonne van SWB’ van is reliant on condition and mileage. There’s still interest in clean, low-mileage vans and if the vehicle is in a good specification – preferably with aircon - and in a nice metallic colour then values are strong.”
For further information on how used vans are performing at auction in the current market, follow our guide below:
Used light vans
Good looking used vans with low, warranted miles are performing well, the danger is that if volumes rise, prices will start to fall in this sector as the true worth of these vans are exposed. Some of the most popular used van sales come from the car-derived sector where the Renault Clio, Citroen’s C” and the Peugeot 206 and the Ford Fiesta all attract interest if presented in excellent condition.
Well presented, high-powered Vauxhall Combos and Fiat Doblos are making some progress although they remain open to the threat of competitive deals on newer and fresher-looking models.
Used medium-sized vans
Used vans in the medium-sized van sector are not performing as well, with the Renault Kangoo, Citroen Berlingo and Peugeot Partner all suffering due to high volumes coming off fleets making price weakness inevitable. The Volkswagen Caddy leads the way in this sector, particularly when equipped with a host of extras. Ford’s Transit Connect continues to lose ground with any examples presented in poor condition, or with high mileage, selling for lower prices that disappoint the vendors.
Used 4×4s
Only the highest presented, high-specification, double-cab pick-ups achieve the guide price at trade. Those showing damage, possess higher than average mileage, or are offered without documentation, will sell for a lower price.
The most popular used 4×4 is the Toyota Hilux. Single-cab 4×4 pickups from Ford and Japanese derived models have also been more popular in the marketplace and sales should increase as we move into the winter period.
Used panel vans
Models offering additional features such as air conditioning or metallic paint, fare considerably better than basic used vans at auction. The Renault Trafic, Vauxhall Vivaro and Nissan Primastar are selling without too much difficulty, despite increasing volumes. Likewise, older Nissan Vanette, LDV Cub and similar sized vans in clean condition attract willing buyers.
Demand for the best VW Transporters remains firm, with the Sportline model still proving to be the average van buyer’s aspiration despite its high list price. The T5 continues to outperform the competition in the medium panel van sector, with trade and retail buyers willing to pay the guide price for clean stock.
With a noticeable increase in volume of 3.5 tonne vans at auction, buyers can now pick up a Fiat Ducato, Citroen Relay and Peugeot Boxer, as well as their Vauxhall and Renault counterparts for a good price. Latest-shape Ford Transits in top condition continue to sell well but, as lead-times ease, their prices are estimated to fall.
Used minibuses
Demand for minibuses has remained fairly level. The VW Caravelle, Shuttle buses and T5 Window vans (with one-tonne payload) continue to be popular. Traditional minibuses with 12, 15 and 17 seats will struggle unless presented in first-class condition.
Used tippers & dropsiders
Tippers and dropsiders have suffered the most at auction suffering a sharp fall in value, for example a Ford Transit 350 double-cab tipper regardless of age or mileage will sell for far less than the guide trade. Prices for lutons and boxes in good condition have remained more stable as they are only made available in lower numbers.
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