Used car part-ex prices on the up

auction2Wanting to part-exchange your car for a newer model? Good news – the average trade-in is now achieving more money.

That’s despite a rise in average age and mileage, too

The average value of a dealer part-exchange vehicle rose from £2,851 in December 2012 to £3,129 in December 2013, according to car auction specialists Manheim – a healthy and useful £278 boost.

Valuation services manager at Manheim Auctions, Daren Wiseman, said: “December’s figures show a surprisingly strong used car market, especially when compared to the tough times still being seen on many high streets.

“Clearly, dealers have learnt their lessons well in the past couple of years and have become much more selective about which models they remarket via auction, which means that prices are remaining strong.”

Interesting, the average value of coupes sold through Manheim auctions has increased from £4,744 in November to £5,141 in December – reflecting a trend towards coupes we’re noticing in the new car market.

However, large family models have tumbled from £2,703 to £2,390 over the same period.

Overall though, used car values are on the up, reflecting a new confidence that is seeing more people buy both new and used cars.

Are you looking to part exchange your car? Have you noticed dealers being generous with their offers, or not so? If so, let us know!

Web editor at MotoringResearch.com. Drives a 1983 Austin Metro. Tweet me @MR_AndrewBrady.

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  • Andrew Campbell

    A lady friend of mine was looking to buy a Vauxhall Cascada (Astra Tourer sized Convertible with an electric folding hood) in Aquamarine Blue this summer and asked her local garage to bring a demonstration model round to check that it would fit in her garage. Her current car, an 1.6 litre Vauxhall Astra Hatchback is in excellent condition with a lower than average mileage on an ’08 reg plate and they only offered her £2400 in Part Ex against the new Cascada with its list price of around £22,000 after application of her ‘Loyalty Discount’. She asked for a particular colour and they said could she please make a second choice of colour as well – just in case her preferred colour was not available – she never got to drive a demonstration model, let alone have one fit her garage and the Part Ex offer was derisory so she did not proceed with her order and is still driving her 08 Astra as the Autumn approaches – so much for customer care from Vauxhall – astonishingly bad service from a main Essex Dealer. .