Company Trying To Cut Van Insurance Prices


Posted September 5, 2012 by Stephen-Drummonsy01

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People may not be snapping up too many new vans which are just rolling off the production line these days, but new figures show that the used van market is showing some signs of recovery.

The average value of a used light commercial vehicle in the UK increased in the month of July, according British Car Auctions.

There is still a bit of uncertainty on the part of buyers, but it seems that an increasing in value means sellers are confident they can make some money in the used van sector. The average value of a second-hand commercial vehicle rose by £59. This represents a 1.5% increase on June’s figures, with the average price of a used van now at £4,219.

The mileage a used van is likely to have clocked up stands at an average of 79,300, which is an increase of 3,000, while used vans are actually a bit younger than the previous month, with their average age falling to 56 months. A crucial figure for the beleaguered industry is that the July figures show an increase of £98, or 2.3%, from the same month last year.

Average age, however, is up by four months from July 2011 while average mileage saw an even greater increase of 15.5%, which translates to another 10,800 miles being clocked up by a used van. Despite the encouraging July figures, Duncan Ward, the general manager of British Car Auctions, revealed that buyers are looking for good value more than ever.

“July was a stronger month for average LCV values than June, but buyer confidence remains fairly fragile and there is a reluctance to buy vehicles in poor condition because of the investment required to get these vehicles ready for retail,” he said.

“Trade buyers are looking for a quick turnaround and often buying to order, rather than speculating on vehicles. However, values remain relatively high because there is a real shortage of good quality, ready-to-retail used vans, which is leading to fierce competition and generally rising values for the best examples reaching the remarketing arena. This stock shortage is a long-term issue and is unlikely to change while new van volumes languish well below pre-recession levels and the wider economic conditions remain so challenging.”

VanInsured.com are one of the most versatile online comparison services for van insurance quotes, we are dedicated to providing you with access to the best value quotes on the market today and in the future.
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Issued By Stephen
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Categories Insurance
Tags cheap van insurance , van insurance , van insured
Last Updated September 5, 2012