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2014 could be another year of record price performance for used vans
Used van prices are on the up as there’s a distinct shortage of supply at present.
The reason goes back to the financial crisis of 2008, when van sales took a nosedive. That means that five years down the line there are just not enough used vans to go round, hence the high prices being paid for those that are.
New data from BCA (British Car Auctions) suggests that values for the average used LCV reaching the wholesale sector may continue to rise significantly in the months ahead, despite vans being older and with higher mileage.
With BCA reporting average values rising consistently during the past 12 months and rising demand expected as the economy starts to recover, 2014 could be another record year for used van prices.
Average van prices are up 42.9% compared with five years ago, despite a typical used van being nearly a year older and having covered 9000 more miles.
BCA’s general manager – commercial vehicles, Duncan Ward, commented: “Average values for used LCVs have been substantially higher this year, despite anecdotal reports suggesting that van retailers have been relatively quiet.
“However, the key factor driving the market is the supply of good retail quality stock – or rather the lack of it – and this means there is plenty of competition for the best examples reaching the market.
“Demand has been right across the board, from older higher mileage vans through to younger ex-fleet and lease vehicles, while the few late-plate light commercials on offer can make exceptional values.