The average value of a used car rose to a record level for the fourth month in a row, climbing by £215 (2.5%) to £8,591.
Year-on-year, the average was up by £599, equivalent to a 7.5% increase in average values.
Fleet/lease values increased by £219 to a new record of £10,236, while average dealer part-exchange values rose by £91 to a new high of £4,644. Nearly new-values fell during the month, but model mix in this very low volume sector has a significant impact on average values.
"While October returned record results for the fourth month running, rising average values are not the whole story," said Simon Henstock, BCA's chief operating officer for UK remarketing.
"Volumes have climbed in recent weeks and there is a two-tier market developing. Ready-to-retail cars continue to attract the buyer's attention and churn quickly, but poorer condition examples need to be accurately appraised and valued in line with market expectations if they are to be sold first time.
"With volumes remaining high, wholesale prices are unlikely to improve between now and year end, and with the delicate balance between supply and demand likely to be maintained into the New Year, we may not see any significant spike in values or conversion rates in January 2017."
"Over valuing poor condition and less attractive cars almost inevitably results in a failure to sell first time, taking longer to sale and the potential for holding costs to rise. When buyers have greater choice they inevitably focus on those cars that represent the best profit opportunity in the shortest timescale."
BCA Used Car Values October 2016
| Body type | Ave Age | Ave Mileage | Ave Sold (Oct) | Ave Sold Previous Month (Sep) | Price vs Previous Month (%) |
| Saloon | 54.99 | 62,008 | £11,114 | £10,961 | 101.40% |
| Hatch | 57.06 | 47,038 | £6,368 | £6,116 | 104.12% |
| MPV | 60.14 | 50,572 | £6,441 | £6,291 | 102.38% |
| Estate | 53.52 | 63,032 | £9,649 | £9,575 | 100.77% |
| 4×4 | 56.39 | 53,438 | £14,883 | £14,454 | 102.97% |
| Coupes | 55.41 | 45,395 | £12,239 | £12,801 | 95.61% |
| Roadsters | 58.72 | 34,901 | £12,943 | £12,712 | 101.82% |
| Convertibles | 66.55 | 44,928 | £9,644 | £9,752 | 98.89% |
