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Demand for best quality cars boosting used car values

Date: 10 January 2014   |   Author: Will Stretton

Residual value expert Cap has claimed that growing demand for the best quality used cars is likely to drive up values through early 2014, with the market showing early signs of strength.

However, although value movements in Cap's Black Book Live demonstrate that demand is growing fast, the firm also warns that the volume of cars in general (particularly those in average and poor condition) is growing ahead of expectations, which could have an impact upon values.

Derren Martin, senior editor of Black Book Live said: "The availability of good condition stock is becoming an issue, which means prices are being pushed up for the most desirable examples."

Martin also said that the trade is showing appetite for convertible vehicles at what is normally the lowest point in values for such products through the year.