Used car values on

the up

BMW X1 2015, front
BMW X1 2015, rear
BMW X1, interior

CAR sales executives are polishing up their wheel-moving skills as used car values are bouncing back.

According to new data from BCA, the UK and Europe's leading used vehicle marketplace, values were on the way up in July from a marginal dip in June.

The data shows an 8.2 per cent increase in average values year on year, with the headline figure up £635.Month on month there was a 1.7 per cent increase in the headline average value of a used car.

Whilst model mix and seasonal variations will have a part to play, the headline figures suggest resilience in the used car market.

Year on year the average age of vehicles sold by BCA dropped, from 61.37 months in July 2015 to 56.86 months this year.

Average mileage has also fallen as values have continued to rise.

And over in the My Car Check's camp, which also monitors used car sales, valuation experts reveal significant trends in the UK used vehicle market.

Their used car of the month is the BMW X1.

Head of valuation services at My Car Check, Gavin Amos, said: "Often overlooked as a used vehicle, the BMW X1 represents a surprisingly affordable route into the premium sector. They take mileage very well, have the typical BMW driver-focused appeal, and offer plenty of room as a family car.

"Perhaps due to competition from the likes of Nissan's Qashqai and Audi's Q3, the X1 often seems to fall off the radar. As a result, there are usually plenty on the used market to choose from. The frugal yet flexible diesel engine models generally hold their value better, and full service history is a big plus."

As to market trends, Amos said: "Come September, with the kids back at school and the arrival of the new 66 plate, there'll be a surge in new car buying activity, with plenty of good condition trade-ins providing a welcome boost for the used market."

LATEST MOTORING NEWS

FOR any car to be a true success is remarkable, but to do it twice is, well,...

Read more View article

THE burden of expectation can be immense - especially when you describe a car...

Read more View article

IT was boxy, dumpy and undeniably a bit frumpy - but the Skoda Yeti was loved...

Read more View article

LATEST NEWS

Google+