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Used car values at Auction4Cars fall to £2,791

Average used car values for November at Auction4Cars have fallen to £2,791, their lowest level for six months, bringing an end to months of over-inflated used car prices said the company.

A division of Motorpoint, Auction4Cars has seen values rise steadily during 2009, peaking in September at £3,664, an increase of 56% on the start of the year.

Since then, prices have levelled off by over £800 on average - a trend that Auction4Cars expects to continue into early 2010.

The top-selling vehicle for Auction4Cars in November across all four sites was Ford Fiesta, followed by the Vauxhall Corsa and Ford Mondeo.

Motorpoint group disposal manager Neil Prescott said: “After the unprecedented highs of earlier this year, it is clear that prices are finally returning to somewhere close to normal. This is good news for dealers as it means they can have confidence of a stable market.

“However, we would expect to see prices begin to rise again in the New Year as dealers look to restock.”

Auction4Cars sells part-exchanges exclusively to the trade and is set to sell 10,000 cars and commercial vehicles this year to nearly 4,000 registered users.

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