Values of used vans "back to normal"

July saw the value of used vans return "to normal"; displaying levels like those seen in May and April this year.

According to Fleetworldgroup.co.uk, the latest market analysis confirmed the news that the average value of a used van in July stood at £3,850 - only £2 less than values seen in April.

Furthermore, this figure is only £9 less than those seen in May. Despite the positive news, the figure for year-on-year values was slightly lower.

As the economy has been tight in recent months, causing more companies to work vans until they are on their last legs, it may have been inevitable that values would drop for a while. This was confirmed by James Davies, a commercial vehicle specialist.

He claimed: "Contract extensions, which have resulted in escalating maintenance costs and declining reliability for operators, have brought older, harder-worked vans to the auction lanes, which has also had an impact on values as well as on conversion rates."

It seems both rates and values are bouncing back now, however cautious drivers may choose to invest in long-term van hire for a while longer, until they can be sure the used van they want is of a great enough value.

Davies also confirmed in finer detail what the latest market analysis had shown, stating: "In July, the month-on-month average age of small panel vans and large panel vans over 3.0t increased significantly...and average mileage also increased."

He concluded on Motortrader.com that each market segment of the used van market needed to be examined in order get a true picture of how the sector is recovering.