Used van values hit record high in February

Secondhand van values soared to new heights in February

USED vans were in high demand in February with average used van values reaching record levels during the month. Could be a good time to change your vans.

According to BCA Commercial Pulse, the average auction price of £4,789 was the highest recorded for any month since reports began in 2005.

And the average age of used vans was 58.5 months, an increase of two months. But average mileage fell to 78,700 miles, a drop of 2,000 miles.

Fleet & Lease values increased appreciably during the month, although dealer part-exchange values fell compared with January’s figures. February was ahead by £517 year-on-year, a 12.1% increase.

Year-on-year table – all vans

Year-on-year table – Fleet & Lease vans

The Fleet & Lease sector, which saw values rise in December last year and again in January, improved for a third consecutive month, climbing £386 to £5,823, an increase of 7.1%.

Year-on-year table – part-exchange vans

Although dropping back by £101 to £3,095 compared with January, part-exchange values in February were still the third highest since reports began in 2005. Year-on-year values were ahead by £325 (11%).

Nearly-new averages

Nearly-new values averaged £9,431 in February, falling back for the third consecutive month.