According to CAP Black Book - the guide to current used car values – prices are holding thanks to an overall shortage of available stock which means active bidding for all cars suitable for retail. Black Book Senior Editor Tony Styles said: “Among the reasons for the shortage of good trade cars was a slower start to September's new car sales than many dealers expected, which meant relatively few part-exchanges.
“And few of those vehicles that were part-exchanged reportedly matched the quality criteria for manufacturers' used car programmes. The problem dealers now face with many part-exchange cars is that they often will not meet the increasingly stringent standards required for today's warranty conditions".
This demand for quality cars has kept prices mainly firm and, indeed, led to an upturn in some sectors. Some mini MPVs have actually risen in value in the October edition of Black Book, which also records a 7-9% premium for cars that have been reconditioned, and typical reconditioning costs for ex-lease cars of £200.