Analysis
Jigsaw Finance’s Nigel Hawkins gives his observations of the PCP market this quarter.
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– The market has seen residual values increase during October and British Car Auctions reported used car values averaging £6,841 an increase of £166 (2.6%) over September’s figures.
– It is purely a shortage of good retail stock that’s creating demand for the right vehicles, which has been the case since April, with average values having risen £900. Buyer demand has been focused on the best-quality retail cars, but due to the limited supply, these vehicles have been making exceptional prices.
– This is not quite reflected in the RVs of the vehicles reported on during the year. In October, eight of the ten vehicles saw a reduction averaging 2.18% with the Peugeot being the worst at 15.5%. Strong performers were the VW Passat and the Mazda.
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