Average used car values have continued to climb throughout October, according to BCA.

The headline average value of a used car rose to a record level for the fourth month in a row, climbing by £215 (2.5%) to £8,591.  Year-on-year, the headline figure was up by £599, equivalent to a 7.5% increase in average values.

Fleet/lease values increased by £219 to a new record of £10,236, while average dealer part-exchange values rose by £91 to a new highpoint of £4,644.   Nearly new-values fell during the month, but model mix in this very low volume sector has a significant impact on average values.

Simon Henstock, BCA chief operating officer for UK Remarketing, said: “While October returned record results for the fourth month running, rising average values are not the whole story.  Volumes have climbed in recent weeks and there is a two-tier market developing.  Ready-to-retail cars continue to attract the buyer’s attention and churn quickly, but poorer condition examples need to be accurately appraised and valued in line with market expectations if they are to be sold first time.”

Looking at the average price performance by model shape, values for volume stock showed increases across the board.   With the weather starting to turn, convertible values fell back and, as predicted last month, 4x4 values rose in line with the onset of colder conditions.