New data from British Car Auctions suggests increased demand as forecasters predict a cold winter
November 2012 – Leading vehicle auction company, British Car Auctions (BCA), has released new data showing that 4×4 values rose sharply in October, climbing by 16% as the first signs of winter appeared. And with long range forecasters suggesting the UK is in for a colder than average winter, 4×4 prices may continue to rise.
Average 4×4 values rose to over £13,000 last month, a rise of £1,838 compared to September and well ahead of values recorded throughout the spring and summer months. Tim Naylor from BCA suggests now would be a good time to buy for anyone in the market for a 4×4, as prices may well rise further if the more severe conditions indicated by the Met Office take hold.*
Naylor commented “There is a well charted trend between falling temperatures and rising values for 4x4s and we would expect to see that continue in the next few months. And the first hint of snow across the wider UK could create significant demand for 4x4s which will send values even higher.
“When it comes to choosing a 4×4, buyers should go for the best specification they can afford, as this will help the vehicle retain its value in the years ahead”, Naylor added. Alloys, leather interior, air-con and sat-nav are all desirable, while more ‘rugged’ accessories such as mounted spotlights, running boards and winches can drive prices up too.”
“But absolutely essential is ensuring the vehicle has a comprehensive up to date service history” concluded Tim Naylor. “It may have been no further off-road than up a suburban kerb, but a full service history from the supplying dealer gives that extra peace of mind.”
* The latest Met Office 16-30 day UK forecast (metoffice.gov.uk) suggests ‘colder than average conditions are favoured, with an increased risk of frost and fog, as well as some wintry showers.’