Get Selling That Old Banger!

British car Austions have announced a slight increase in value of used cars during June, the average price rose by £146 from May to June 2010. This is great news for leasing customers, if the residual value of vehicles is increasing this means that Contract Hire and Car Leasing prices will ultimately become more competitive due to vehicles retaining value.

British Car Auctions reported a 16% increase in sales of ex fleet vehicles that has ultimately affected the values of all used vehicles.
Tony Gannon, BCA Communications Director said “We’ve seen a turning point in demand over recent weeks and both values and conversion levels have been under pressure – quite typical for this time of the year,"

“Dealers are saying that retail sales have eased off and this is reflected in the auction halls and online bidding for replacement vehicles. However, demand is far from flat, it’s just more selective than it has been and that means presentation and condition becomes increasingly important. Buyers are competing strongly for cars in ready to retail condition and therefore sellers are advised to appraise their vehicles carefully and consider rectifying any cosmetic damage prior to sale."

“What we may be seeing is a return to a ”˜normal’ level of business and some price stability - at a level that compares favourably with 2009 values.”

Britannia Leasing are happy to accept Part Exchanges or if you would like some assistance selling your used vehicle, you can bring your vehicle to our brand new premises in Wilmslow, Cheshire, please feel free to contact us or make an enquiry.