Van values up as trades hunt for value

Used van values start to climb again in May

WITH Kate and Wills happily married, and those traders and businesses taking advantage of the succession of bank holidays in April and early May to have a holiday break, the used van market has bounced back strongly in May says the BCA Pulse report on used van values.

Figures for May show that average values climbed to £4,218 after dipping to a 17 month low of £3,969 in April. Year-on-year values remain behind by £248 compared to May last year – when the market was peaking in terms of value.

In particular, small businesses and trades, concerned about operating costs, have been searching out older stock to run as their business van.

Duncan Ward BCA’s general manager for commercial vehicles commented:

“Despite continuing wider economic concerns, small businesses continue to support the used LCV sector strongly, particularly in the budget end of the market. Interest on vehicles valued in the £1,000 to £2,000 price range remains exceptionally strong, but condition is still an important factor – a clean and tidy high mileage vehicle is arguably more saleable than a lower mileage, younger but poorly presented example.

“Late year product remains exceptionally rare and difficult to source and as a result examples are hugely coveted by professional and non-trade buyers alike.”

BCA’s view on the market was supported by the Vehicle Remarket Association (VRA), which reported that the used van market continued to hold up well, with strong prices in most main categories.

A spokesperson for the VRA said: “A number of the larger fleets are finally replacing their ageing stock with new vans which, in turn, is releasing much needed quantities of used stock into the market. These are being snapped up by the small business and self employed sectors, who likewise have been holding off replacement, with many happy to buy three to five year old vans, in an effort to keep a lid on their operating costs.”