If you are considering either buying or selling a second hand van then you may be interested to read that the average selling price of such a vehicle rose in May 2022 by an average of £104 when compared to May 2021 according to Manheim. It is going to be interesting to see what happened in the coming months in this respect.

It is also particularly worth noting that this increase has been seen even though the average number of miles on the clock of such light commercial vehicles coming up for auction has risen by more than 15,000 which is a huge increase, Furthermore, the average age of such LCVs is three months more. One would have thought that such vehicles would sell for less as they are both older and their mileage is significantly greater.

Although the selling price of used vans has gone up the average guide value of such vehicles has actually fallen by an average of 3.7%.

Another interesting statistic is that used vans are coming in for sale with more damage on them perhaps because they are being kept longer by their owners. The average increased cost of damage for each used van went up by an average of £372 in May 2022 when compared to the same month last year.

Presumably there are more people looking to buy a used van rather than a new one partly due to the current economic climate here in the UK. Unfortunately, the situation could get even worse as there is talk of a recession on the horizon. That will no doubt encourage more tradespeople to batten down the hatches and decide against changing their vans or spend less on buying a used one.

If you are considering buying a used van then why not get in touch with us today with a view to obtaining a competitive quote for van insurance. We look forward to hearing from you.