There’s Never Been a Better Time to Part Exchange
If you’re considering part exchanging your current van for a new one at some point in the not-too-distant future, now is likely to be the best time for a good long while. If you’re considering part exchanging your current van for a new one at some point in the not-too-distant future, now is likely to be the best time for a good long while. Sales prices for used vans are at an all-time high, and while we don’t know exactly when they’re coming down, we do know that they will be coming down: probably not before too long.
Covid has led to global shortages in new cars and vans due to factory closures, transport disruptions, and a world-wide microchip shortage. All of that meant that the flow of new vehicles all but stopped for much of 2020 and the first half of 2021. We’re starting (slowly!) to get deliveries now, but it’ll be months before things are back to approaching normal: we’re looking at early 2022. In the meantime though, people still need vans! Used vehicle prices have skyrocketed to meet demand, and while that’s bad news if you’re buying second hand, it’s great news if you want to sell or part exchange (PX).
The thing is, these inflated prices won’t last. We absolutely know they won’t. Industry experts are predicting not only a crash of used vehicle prices but also a rise in new vehicle prices as things normalise. Second half of 2021, first half of 2022 … no one is completely sure, but the data already show that the exponential growth has almost plateaued.
There’s a variety of reasons for this, all to do with things slowly returning to pre-Covid conditions. Plus, there’s bound to be a reduction in used demand thanks to people working from home. We’re also seeing less demand for van conversions as people go back to holidaying abroad. And of course, as more new vehicles hit the market, fewer people will be forced to buy used.
This really does look like the best time to PX your current van as all the indications we’re getting are that prices will only drop from here. It seems that the peak has passed, and if you have a van that’s worth £16,000 today and that value drops by 25% over the coming months, that’s a loss of £4000. In PX terms, that means you’d be paying an extra £88 per month on your new van! And given that the prices of new vehicles are set to rise, as even a 5% rise on a van that currently costs £30,000 would equate to £1500 or another £30 per month, there’s really no time like the present.
Seriously, what are you waiting for?
Here’s How it Works:
Gap Insurance
You can save money by insuring the rental on your current policy. If you don’t have “new for old” cover, we can provide GAP insurance for a small extra fee.
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Part-Exchange Prizes!
Finally, just to make it all even more appealing, we’re running a monthly PX prize draw. You can win a holiday or vouchers worth up to £500 just by letting us know what your van is worth. All you need to do is to:
- Tell us the settlement figure on your current van. We need this to calculate prices.
- Send us some high-quality photos of your current van.
- Let us know what services, repairs, etc. have been carried out on the vehicle and by whom.
- Tell us whatever else seems relevant to the van’s value: number of spare keys, any damage, etc.
Pass all of that info along to us, and you’ll be entered in the draw. Easy as that!
Buy Now to Save Later
We don’t want to scare people, but when you think that a not-unreasonable drop in used van prices over the next 6-9 months could see customers having to find an extra £100 per month to finance their new vehicles, we really do want to emphasise that the time is now. Wait too long and you could lose money and have to spend much more than you’d like. Now is the time to order your new van, part exchange what you’ve got, and relax knowing that it’s all under control.
Give us a call today at Swiss to start the wheels in motion. That way, we can get your wheels in motion too!
