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Used-car value decline 'negligible'

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British Car Auctions has found that the value of used cars has seen a negligible decline between June and July, with demand remaining unaffected.

Values, which changed from £5,802 to £5,784 during the month dropped only by 0.25% overall.

The values are less compared to the high that was experienced a year ago - but is more than the values recorded two years back.

Demand remains unchanged and many different kinds of cars are showing up in the used market.

Standard fleet values saw a decline of 3.7% when values fell by £276. Premium fleet values also saw a similar decline of 3.8%. However, early-new values went up to £20,039 in July from £18,792 in June.

"Prices have continued to be under some pressure in July, especially in the fleet and lease sector, but sales volumes have held up well in the month, and demand is there for vehicles that are valued in line with their condition and market expectations," said BCA communications director Tony Gannon.

"Although we have not experienced seasonal patterns in the market for some time, we are seeing them now and should expect these to continue over the rest of this year."

© Press Association 2010