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The business car sector needs to be less bullish about strong residual values while manufacturers should avoid the risk of another "Rip Off Britain" backlash as UK car prices appear to be overtaking their European counterparts.
This double warning was issued by George Grant, managing director of the Capital Bank Motor finance company, which manages one of Britain's largest leasing agencies.
Grant said: "It is not the time to be bullish about RVs. Those who are will feel the pain. When we last looked, UK new car prices had overhauled the European index norm. If we don't learn from the past, i.e. the Rip Off Britain campaign at the turn of the century, then we deserve everything we get."
The head of Capital Bank Motor, whose predominantly daily rental agency operates 40,000 cars and vans worth £500 million, argued: "In the past, the industry, including all parts of the business car community, suffered, because it did not track prices assiduously enough.
"Market pressures will come to bear again and manufacturers will say they are not selling enough volume before pushing prices and RVs down. It depends on how long they hold out for higher prices. I think we are pretty near the peak."
Although it is exposed to the lower 85% of its daily rental agency's RVs - the rental firms assume the top 15% - Grant said Capital Bank was "prudent in creating a mitigation fund to cushion ourselves if and when prices and RVs fall. It's our equivalent of the old tea caddy stash for a rainy day".
Grant explained that Capital Bank Motor operates its agency through nine out of the top ten rental companies on an operating lease basis.
He said: "We take the bottom 85% RV risk element, but the hirers act as agents. They buy the vehicles and at the end of the four- to six-months terms sell them on our behalf, which clears off the RVs."
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