Used van demand outstrips supply

Due to a shortage in the supply of used vans, the average price consumers can expect to pay is on the rise. In just one month alone, from August to September this year, prices saw an average increase of 3.6 per cent, up to £4224.

Despite this considerable monthly increase prices have fallen short of the levels they reached last September, when they hit a high of £4409. This fall represents the first year-on-year decrease in value at anytime this year.

The month-on-month prices have risen for all three van sectors, with fleet and lease values rising by 3.2 per cent to £5002, part-exchange van prices increasing by 6.8 per cent up to £2974, and the nearly new sector hitting highs of £12,006, although the figures for this sector have been taken from a small sample of data.

This across the board increase in values has prompted some of the more optimistic van drivers to suggest that buying a used van could represent a better investment than putting their money in the bank!

A spokesman for British Car Auctions has said that it is the shortage of used stock which is propping up values. “We are yet to see any significant uplift in vans from corporate fleet sources and demand is still outstripping supply which is keeping values firm. Trade buyers are being forced to look further afield to secure the stock they need.”

The shortage of supply is causing many buyers to look towards older, higher mileage vans than they might otherwise consider, so long as they are in a good condition. Other tradespeople are settling with vans in a poorer condition than they would like from a lower price bracket.

The insatiable demand for used vans from buyers was being exacerbated by the chronic shortage of good quality vans, with the volume of stock falling by 8 per cent year on year.

If you’re in the market for a cut price used van, you’ll need the right van insurance policy to protect your vehicle should anything go wrong. Here at Van Compare we will scour the market on your behalf, saving you the time and money required to find the cover you need.

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