BCA announces rise in used car values

Good news for those wanting to sell on a used car. I have just read that a shortage of stock is being contributed to the rise in used car values according to BCA’s (British Car Auctions) latest Pulse Report. The average car sales values increased to £6,180 in July from £5,964 in June based on BCA's figures. Fleet and lease values have seen an increase as well. Information supplied from the BCA's website says that across the board, used cars averaged 96.94% of trade guide prices in July, up by nearly a point compared to June, while average age and mileage both fell marginally over the month, to 62 months and 59,000 miles. Tony Gannon, BCA’s communications director, said: "“The combination of lower new car sales and the tendency for vehicle owners to extend their replacement cycles simply means less stock is available to be sold”. To read more facts and figures about this upturn in used car values, visit BCA's website here.