Used car values have remained healthy in September despite worries over the effect of new car retail incentives on nearly-new values, according to CAP Automotive’s Black Book Live.
The real-time car valuation analysis programme says many dealers are buying cars they would usually overlook to guarantee an adequate range of vehicles on the forecourt, and are also receiving more low quality part-exchanges as new car retail incentives tempt less wealthy drivers.
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However dealers are offering older part-exchange vehicles for retail, which would usually be sent straight to auction, as demand for used cars remains strong.
Derren Martin, senior editor of Black Book Live, said: "Daily monitoring and reporting of market prices throughout September revealed values generally remaining firm or even increasing slightly through the month. It has been possible to see a reversing of the small downward movements the market saw in August."
He continued: "On the retail front we see a theme of steady footfall and a scarcity of good quality stock to replace cars that are sold. A number of larger franchise groups have had a particularly strong last two months, with not enough respectable part exchange offerings in return."
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