The average value of a used car sold at British Car Auctions (BCA) stood at £7,912 in July, a 2.6% (£206) rise compared to the same month in 2014, according to the July BCA Pulse report.

Year-on-year, the average age increased marginally at 60.37, while mileage fell from 55,806 miles to 54,945 miles. Performance against CAP was up slightly over the year to reach 97.82%.

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The headline average value of a used car in June was up by £154 (1.9%) compared to June.

Simon Henstock, BCA’s UK operations director commented "Supply and demand remain well balanced, with conversion rates improving in July, despite the typical summer slowdown the market experiences once the summer holiday period begins."

"Sales have been well attended throughout the auction network in July and online bidding has been strong, but it is noticeable that buyers are being more selective. Condition, preparation and presentation is important and it is worth considering SMART repairs for those cars that have suffered low level cosmetic damage in the shape of car park dents, stone chips and damage to alloy wheels."

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The average fleet and lease car value rose by £251 (2.6%) last month compared to July 2014, reaching £9,662. Average age was broadly static at 40.01 months, while average mileage dropped from 47,090 to 46,309. CAP Clean performance was slightly higher at 97.44%.

The average fleet and lease car value was just £65 lower than June’s figure.

The average dealer part-exchange vehicle value was £4,268 in July. Year-on-year values were ahead by £203 (4.9%), with CAP Clean performance ahead by a point compared to a year ago.

Over the same period the average age increased from 88.01 months to 89.37 months, while average mileage declined from 71,237 to 70,517.

The average dealer part-exchange value dropped by £10 compared to June 2015.

Nearly-new values increased to £21,250, the highest average monthly value since January this year. The average age stood at 7.93 months and CAP Clean performance was 99.57%.