- Q3 average is almost £11,000
- Highest used value ever
- 28.9 percent higher than Q3 2013
The value of light commercials has reached its highest ever point, according to used vehicle remarketing firm Autorola. The average van sold for £10,986 during Q3 of 2014, which is 4.5 percent higher than the previous quarter and 28.9 percent higher than the same period last year.
Director of operations for Autorola attributed the increase to the rising confidence of buyers and better quality stock. The average age of an LCV sold via Autorola has fallen to just two years old, with mileages at an average of just 26,937 miles.
“Earlier this year, we saw prices balloon as lower quality stock flooded the marketplace, pushing the demand for newer, higher quality vehicles”, explained Neil Frost, Autorola UK’s operations director. “SMEs are growing on the back of a resurgent economy, which continues to push demand and prices”.
“However, prices are beginning to level out. This is the smallest quarterly increase we have experienced in 2014, and we believe prices will remain stable in Q4 and into Q1 2015.”
With the high values for used vans expected to remain stable for some time, it might be worth spending the extra cash to buy new commercial vehicles. A number of manufacturers are offering competitive finance packages, with some discounted prices.