Used values for business cars have begun to slip according to latest data from BCA’s Pulse auction report. The first four months were the time to sell your business cars to achieve best value.
The market was bullish.
April established a new monthly record value for used business and contract hire cars.
But May saw values dipping: values fell by over L300 to L6986.
This follows an exceptional price performance earlier in the year.
But the combination of rising volumes of cars coming to auction and a more uncertain economic outlook is taking its toll.
For example, buyers are becoming more choosy.
The competition for the best ‘ready-to-retail’ cars is keeping values at almost artificially high levels.
But that conceals a rising number of unsold cars. Over-optimistic reserve prices have put them out of the reach of buyers.
So it’s important not to be complacent on price if you’re a small business wanting to sell your business cars.
June through to August is traditionally the weakest in terms of price performance, anyway. So business car managers should keep close to the market. And ensure their vehicles are valued in line with current buying prices.
Key BCA price pointers
- April 2007 values for the three-year-old / 60,000-mile business cars averaged L7299
- May 2007 values
for the three-year-old / 60,000-mile business cars averaged L6986 – a fall of L313 (4.2%)- Used petrol business car
prices are continuing to catch diesel prices. In May the gap was just L57 (1%)- However, diesel mileage
continues to be greater
Further information
- Visit the BCA website for a full report at www.bca.co.uk.
