Is your car your pride and joy, or are you ready for a change? Let us know and you could win a £300 John Lewis voucher | No thanks

Used car wholesale prices fell in April

The latest marketing analysis from Manheim Remarketing reveals that average used car wholesale prices fell by 1.1% in April 2011. The fall comes after three consecutive months of increases.

The biggest decreases were in the fleet sector, which saw an average decrease in value of 3.0%, and in dealer part exchanges, which decreased by an average of 5.7%.

Compared to April 2010, 2011 used cars were on average 3 months older (53 months old on average), with around 3,000 more miles on the clock (53,853 miles on average).

However some values increased. Average used supermini values rose 8.5% and average used MPV values rose by 7.2%, thanks to a reduction in average age.

Mike Pilkington, Managing Director, Manheim Remarketing said: “As predicted, values did come under pressure in April because of an increase in supply and a softening of retail demand. Increased supply came from the influx of March part exchanges and increased levels of end-of-contract and extended contract fleet and lease vehicles.

“ ...Retail demand did ease through the course of April, especially towards the end of the month during the extended holiday period.” He added. 

Comments

Add a comment

 

Ask Honest John

Value my car

Amount to borrow
Sorry. The minimum loan amount is £1000
To pay back over

My credit score

Best available rate 9.20%

Total repayment £9,304.93

Total cost of credit £1,804.93

£155.08

60 monthly payments

Apply now

Representative example

The Representative APR is 13.2% (fixed) so if you borrow £7,500 over 4 years at a rate of 13.2% p.a (fixed) you will repay £199.21 per month and repay £9562.20 in total.

CarFinance 247 Limited is acting as an independent credit broker