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Residuals will be hii by falling list prices
Page 50
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• Many leasing companies still aren't being realistic enough about project ing residual values, according to Chris Wright, managing director of Commercial Vehicle Auctions.
He believes they're failing to take into account the rate at which new truck prices are falling at present—and the impact this will have on the resale value of those trucks in three years' time.
"There's no point in blaming the auctions for not getting the price you projected if that projection wasn't realistic to start with," he contends.
So why aren't the lessors concerned quoting rates based on second-hand values that are achievable? "Because if they did the rates would be so high that they wouldn't get the business," Wright replies. "And they're desperate for business.
"I suspect what some people quoting on three-year deals now are hoping is that in two years and eleven months' time they'll be able to move to another leasing company before the chickens come home to roost," he adds.
CVA's Doncaster yard has started to fill up with vehicles ready to be auctioned as people return from their summer holidays and want to trade. "Things are getting back on track," Wright reports. "There was a patch in July/August when it looked as though prices were slipping. They've levelled out now, however, and started to harden so far as lateregistered vehicles are concerned.
"Prices of 7.5-tonners are rising by 5-7% if they've got the right specification," he adds. "However, there's a widening price gap between used examples of current models, and used examples of pre vious models. Second-hand Mercedes-Benz Ategos, for instance are now fetching significantly more than second-hand 814s."
What's happening with trailers?
"There's a big demand for goodquality 13.6m curtainsiders and flats up to four years old, and they're in short supply," he says.
"There's not so much interest in sliding roof curtainsiders, however. Maybe operators fear that it's too easy for illegal immigrants to break into them!"
The star turns at a recent CVA auction were undoubtedly a pair of late-registered Daf 95XF.430 4x2 Super Space Cab tractors. Finished in silver, and fitted with long-range tanks, they went for L41,750 and £42,000, Trucks with unusual specifications continue to do well. At the same sale a Mercedes-Benz 1827 63(2 rigid with a lift-axle and a 3oft curtainsider body, 1996 on a plate, Went went for iti,500.
Tippers are also performing strongly. A Daf 75.270 6x4 tipper of the same vintage with a front-end grab sold for £14,500, while a 191 N-registered, Scania P113 320 8 tipper went for £13,000. "It wa. nice truck," Wright remarks.
A 1997 Renault Premium 3 6x2 tractor was disposed of: £8,500, and did better than Wrii expected: "I thought it would go 17,000 to £7,500."
Dating from the same year, Scania R124 az tractor was boui for f15,75o. And whoever snapp up a 1995, M-plated, Mercedes ended up buying themselves 1 tools of a small business. "It wa mini-skip loader, and came co plete with 16 skips," says Wright.
Price for the lot? £12,750.