Automotive services company Manheim and the Vehicle Remarketing Association (VRA) have both reported relatively strong demand and values for used cars in January 2013.

Manheim has reported the average selling price of dealer part exchange vehicles grew by 15.7% over the past 12 months, reaching a value of £2,826 in January, despite the average age of cars jumping from 99 to 100 months.

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This is slightly lower than figures released by the BCA, which put the rise in year-on-year average values at 22.60% for part exchange cars.

Manheim also reported the residual values of part-exchange used cars rose to 18% of their new price, the only time this has been achieved in the past 12 months aside from October 2012.

Ex-fleet and nearly-new

The VRA has reported "very high demand" for ex-fleet cars in good condition and within the 60-70,000 mileage range, with the average age of ex-fleet cars sold being 39 months and with around 69, 000 miles on the clock.

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Similar to BCA findings, the VRA reported icy weather has boosted sales of 4x4s with those under £10,000 doing extremely well along with, unusually for January, soft tops.

Higher mileage cars in the 100-120,000 bracket struggled, however cars above this range have been "snapped up", according to the VRA.

Thanks to the relatively buoyant UK new cars market, there has been a glut of newer used cars on the market, which has created a challenge for 6-18-month-old cars under 10,000 miles as increased 0% finance options for new cars tempt potential buyers away.

This was in line with the BCA figures, which put nearly-new prices down by 11.7% year-on-year.

Cars slightly older than this, though, in the 18-30 month old range were less affected by this as they are far enough below new car prices as to not compete.