Ex-finance vehicles continued to increase in value in August to an average of £6,858.40 according to G3 Remarketing, up £134.40 compared to July and by 23% year-on-year. Ex-fleet and lease values are also holding strong, with the average price in August at £8,987.70, up by £44 on the month before and by approximately 20% year-on-year.
The average age of ex-fleet and finance vehicles remained just shy of 40 months, with an average mileage of 46,000, however, the volume of such motors passing through the remarketer was down by 2% in August, which G3 attributed to a seasonal decline in availability.
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Tom Marley, head of operations at G3, said: "The seasonal reduction in volumes has resulted in an increase in values across some segments and, overall, values are up by 20% or more across fleet, lease and finance vehicles.
"The models showing some of the largest year-on-year increases are [Citroën] C1 small-engine models and Hyundai I40s, while the smallest increases have been on [Ford] Fiesta petrol models and some [Peugeot] 207 petrol models.
"Cars that are being considered for refurbishment are continuing to give a greater return on investment," with an average spend of £246 resulting in an average return on investment of £492.
richard.brown@timetric.com
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