For anyone looking to sell their van, now is a good time with prices for used vans increasing but they need an MoT certificate to realise the higher price, says one firm.
The report from Manheim’s says that van sale prices in every segment grew in May but sellers are failing to present their vans in the best possible light.
The report highlights that used vans being offered for sale with little or no MOT are fetching up to £400 less than vans with a recent test.
Manheim says that the auction price for used vans grew slightly in May by £19 to £4,109 over the month previously.
In addition, these used vans are also seeing fewer average miles on the clock by 2,670 miles.
Average miles on used vans
A rise in the average miles on vans being sold in April has proved to be a blip since there was a large number of older stock in the market which came from distribution fleets and utility firms offloading their vehicles.
In May, the auction firm found that there was an increase in used vans from contract hire and lease firms as well as daily rental companies.
The study also shows that in May, 68% of used vans being sold at auction were made up of small panel vans or car derived vans.
Indeed, the car derived vans segment led to a new record being set in May as they accounted for 43% of all the vans sold by the firm. That’s the highest figure since 2006.
The figures also reveal that more than 40% of vans sold in May were aged 60 months or more.
Manheim’s head of LCV, Matthew Davock, said: “Buyers are out in force and competing strongly for stock. Car derived vans are commanding top prices despite the increased volume which reflects the popularity of this segment.”
He added that buyers can commend top prices by ensuring their used vans have a valid MoT certificate.