Average values of used cars across the UK reached £9,262 in May, slightly higher than the previous month, according to BCA.
Despite the pair of bank holidays and the school half-term sandwiched in between, which tends to slow down demand for used vehicles, year-on-year values rose in May for fleet, lease, part-exchange and nearly-new models.
Values for fleet and lease vehicles were £11,370 at BCA on average last month, almost 4% (£407) higher than May 2018.
The retained value of used fleet vehicles against the original Manufacturers’ Retail Price (MRP) was down one point to 42.4% year-on-year. However, the average age of used fleet vehicles at their time of sale rose to almost 40 months, and the average mileage of used fleet vehicles at their time of sale had also declined year-on-year to 39,216 miles.
Stuart Pearson, chief operating officer, BCA UK Remarketing, said: “The market has been moving through some typical pricing realignment during April and May and, whilst these seasonal adjustments are to be expected, the incredibly buoyant market experienced during 2018 may have created some unrealistic expectations.
“We continue to work closely with our customers to ensure that they are fully appraised of trading conditions, utilising our unique BCA Valuations pricing intelligence to reflect remarketing sale values in real-time.”
Businesses seeking used fleet and lease vehicles to expand or improve upon their fleet of company cars can also visit our own twice-weekly fleet car auctions. The Fleet Auction Group was established in 2002, designed to offer centrally located fleet car sales within our purpose-built 12-acre complex.
IT Fleet are specialists in remarketing commercial cars, vans and trucks, with a feature-laden facility for fleet refurbishment and valeting available.
It’s a fact of life that commercial vehicles experience wear and tear when clocking up the miles on the motorways. That’s why we offer SMART repairs and refurbishment of used fleet vehicles, including paintless dent repairs, body scratch and stone chip removals, bumper repairs and even repairs and re-texturing to interiors.
All of which can be carried out to used fleet vehicles in advance of our bi-weekly auctions. If you’d like to know more about our upcoming fleet auctions, be sure to visit the latest schedule at The Fleet Auction Group.