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Used vehicle prices 'rising' with demand

Greater demand for and lower supply of used vehicles are pushing up prices at auction, according to new research.

Greater demand for and lower supply of used vehicles are pushing up prices at auction, according to new research.

The Manheim Group looked at van sales in the last quarter of 2006 and the first quarter of 2007, and found that used van prices increased by nine per cent on average.

Smaller vans based on car models rose by slightly less, up five per cent between the two quarters.

"The increase in used van prices is on the back of operators reporting reduced stocking levels of some new vans by manufacturers which has forced them to extend their replacement cycles," said Alex Wright from the Manheim Group.

The research also found that the higher than average resale prices used silver vans once enjoyed is beginning to subside.

"More and more silver vans across the weight ranges are being defleeted by the leasing sector, having been used under contract for longer periods. The increasing availability is clearly affecting the high residual value premium they once enjoyed," he added.

Buying any form of used car is one of the easiest way to keep your car finance costs down.


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