LCV values down in August

The UK light commercial vehicle (LCV) sector has witnessed a fall in average values last month, with used car prices down 3.6 per cent.

According to the latest BCA Pulse data, the average used car value stood at £4,075 in August 2012, with average mileage down to 78,000, but age at sale increased annually by 7.5 per cent to 58 months.

Duncan Ward, the BCA's general manager for commercial vehicles, commented: "August is typically a weaker month for demand and that factor combined with a slight change in mix, as more lower value part-exchange vans were sold saw values fall month-on-month."

Last month, the Finance & Leasing Association released figures highlighting a significant downturn in the level of fraud witnessed in the UK's used car market during the first three months of this year.

Overall, the organisation reported a 27 per cent drop in the number of finance fraud cases.

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