Used van prices rocketing
- Created: 22 July 2014
Autorola, an online remarketing specialist, has been keeping tabs on used van prices over the last six months.
During this period the prices of used commercial vehicles have risen by more than 30 per cent. This means that the average prices of these vehicles have increased to record levels for the third quarter in a row.
Autorola has reported an all-time average price high in the second quarter of 2014. Used prices rose from around £9,605 to £10,513. This is just under a 10% increase of around £907.
At the moment this rise doesn't seem to be slowing down and there are a few reasons why it could be continuing.
Neil Frost, Autorola UK’s operations director, states, "More ex-fleet stock is coming back into the used market at 5-6 years of age with higher mileages and in a tired condition, this has helped increase demand for the newer used stock on our platform.".
Neil adds "SMEs are still buying used vans typically under £10,000 as they continue to grow, but struggle to get finance to buy a new van. With the holiday season nearly upon us and with the economy continuing to thrive it will be interesting to see whether prices stabilise in Q3 2014 or continue to rise".
With a continued rise of used van prices for the foreseeable future, one way that van owners are trying to keep some money in their pockets is by trying to get the cheapest van insurance quotes possible. Thankfully they have iVan to help them out with that, so they can run their business instead of browsing for the most suitable deals on cover.