Wanting 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!