BCA reports rise in fleet and lease used car values
15 April 2019
Author: Sean Keywood
The average price of used cars from the fleet and lease sector rose slightly in March, despite a fall in the overall market, according to auction firm BCA.
The average fleet and lease value of £11,546 was a £24 increase month-on-month, and a £424 increase year-on-year, with average vehicle age up slightly and mileage down slightly compared with March 2018.
BCA blamed the month-on-month fall in the overall average used car price by £105 to £9,693 on a changing model mix as a higher percentage of dealer part-exchange cars reached the market following the plate-change on 1 March. Year-on-year, the headline value was up by £25.
The dealer part-exchange sector average value of £5,217 was up £50 month-on-month, and £322 year-on-year, with average age and mileage decreasing.
The nearly-new sector saw the average value at £23,314 - a £230 uplift month-on-month, and a £4,445 improvement year-on-year. BCA - as always - highlighted the importance of model mix in this low volume segment.
BCA COO for UK remarketing Stuart Pearson said: "Demand continues in the market for accurately valued vehicles in the best condition and reflecting seasonal patterns, we've seen a lift in volume from both fleet and lease and dealer part-exchange sources.
"The seasonal run of public holidays over the Easter period and into May has the ability to put pressure on the market at a time where supply is typically plentiful.
"As ever, our advice is for vendors to be disciplined around the remarketing process with enhanced preparation, accurate descriptions, comprehensive documentation and, most importantly, realistic reserve setting ensuring that buyers remain actively engaged."