Average used LCV fleet values rise in November

Values for fleet and lease LCVs averaged £6,580 in November – an increase of £53 (0.8%) over October’s value, according to the BCA Commercial Pulse report.

CAP performance averaged 101.8% and retained value against Manufacturer Recommended Price increasing to 37.44%.  

However, year-on-year, fleet and lease values were down by £240, a reflection on the fact that values were exceptionally high in November 2013 and remain the second highest on record.    

Overall, average values for LCVs were stable in November as the ongoing shortage of good quality used vans continued. 

Professional buyers and end users alike competed strongly for the best quality stock on offer, with values for the best presented vans typically outstripping price guide expectations by some margin. 

The average value of a van sold at BCA in October was £5,615, the third highest monthly value on record.

Demand was broad based throughout the month, with any vehicle offered with the combination of a good colour, specification and condition attracting attention from buyers. 

Duncan Ward, BCA’s general manager – commercial vehicles, said: “November maintained the pattern we have seen throughout 2014, with high levels of demand for the best quality stock and often exceptional prices being achieved. 

"While low mileage, clean examples remain hard to find, buyers are happy to bid strongly on higher mileage or older vehicles if the condition and specification is good. 

"However, we are seeing greater numbers of hard-worked ex-corporate stock reaching the market in often quite poor condition – these vehicles need to be properly appraised and

Year-on-year table: Fleet and lease vans