Used car values tipped to rise further
Vehicle leasing organisations looking to add to their fleets by purchasing used cars should move quickly to ensure they get the best possible prices, it has been claimed.
According to Glass's Guide, the cost of buying a second-hand motor is set to rise further in the coming months as availability continues to dwindle.
Despite an average price increase of 25 per cent for cars up to one year old so far this year, managing editor Adrian Rushmore said buyers would be well advised to act now.
"Prices are not expected to fall in the coming months, as the supply of vehicles becomes even more constrained," he stated.
Mr Rushmore explained the trend for higher second-hand prices stems from the reduction in the number of new cars being registered this year.
This in turn has led to a fall in stocks of used models, pushing costs up for buyers.
According to British Car Auctions, the price of used vans is also likely to pick up during the second half of 2009.
Despite having slowed from the "terrific" month-on-month growth seen earlier in the year, the group claimed it is far too early to suggest values have "topped out".
