Does specification affect a van’s value?
The short answer is… yes! Vans come in all sorts of specifications, or specs, that vary the trim levels and optional extras that make your van suitable for your work. Whether it’s in-built storage compartments, or custom seating configurations, your van’s spec will affect its value when you’re ready to sell.
- What is a van’s specification?
- How specifications affect a van’s market value
- Spec differences across various types of vans
- Van depreciation: Understanding how value decreases over time
- Features that enhance van value
- FAQs
What is a van’s specification?
A van’s specification, or spec, are all the details that make it different from other vans. These include:
🚚 Make and model
📅 Year of issue
📏 Dimensions
⚙️ Engine type and size
⛽️ Fuel system
⚙️ Type of transmission
The spec you choose for your van is crucial to make sure it’s fit for use. For example, delivery vans often have a smaller cab area and a larger loading bay or storage area. Crew vans, which can take up to seven passengers, swap their loading bay for lots of seats.
A van’s spec is directly reflected by its worth. Popular models that are less than 10 years old and are in good condition, will have a higher market value than those that show signs of wear and tear, which might affect their ability to do a job. Understanding your van’s spec is key to ensuring you get a fair price when you sell.
If you’re thinking of selling your van, enter your van’s reg and mileage here to get started with a free, instant valuation.
How specifications affect a van’s market value
Several main specifications influence a van’s price:
Load capacity:
The load capacity of a van is how much weight it can legally carry. This is also known as payload.
Larger vans tend to have higher payloads and are often used for bulky deliveries or transporting equipment. Their versatility means they often hold their value better than more compact vans.
That said, while smaller vans have a reduced payload, they are more suited to urban environments than long-wheelbase vans. Location can therefore affect a van’s price too.
Fuel efficiency:
In an era of rising fuel costs and environmental concerns, fuel efficiency is key. If you have your own business, having a van with a better fuel economy will save you money. And reduce your carbon footprint.
Customisation:
Practical customisations such as shelving units or inbuilt refrigeration can enhance the functionality and productivity of a van. This will significantly increase the likelihood of it retaining its value.
However, overly personalised customisations can limit a van’s appeal for a wide base of buyers, and negatively impact resale value.
Reliability and safety:
It goes without saying, the more reliable and safe a van is, the more likely it will have strong resale value. A reliable van means less downtime and lower repair costs. Safety features, such as advanced driver assistance and locking systems, can reduce damage to both the van and whatever you’re transporting in it.
Spec differences across various types of vans
Vans come in all shapes and sizes and choosing the right one for your needs can be tricky.
This handy guide will hopefully make the task easier!
| Feature | Panel vans | Light Commercial Vehicles (LCVs) | Custom conversions |
| Typical uses | Delivery and logistics, trades (plumbing, electrical) | Local deliveries, urban transport, and service providers | Catering, mobile workshops, specialised transport |
| Load capacity | 🦾🦾 Moderate to high | 🦾 Low to moderate | 🦾/🦾🦾 Variable, based on customisation |
| Fuel efficiency | 🙂 Moderate | 😀 High | 🙂 Variable, depending on modifications |
| Cost | ££ Moderate | £ Lower initial cost | £££ Higher, due to customisation |
| Resale value | ££ Good, especially with low mileage | £££ High, especially for well-maintained models | £/££ Variable, higher if niche demand is strong |
| Key specification | Large cargo area, robust build | Compact size, fuel-efficient | Tailored features, industry-specific equipment |
Van depreciation: Understanding how value decreases over time
Like with all vehicles, a brand-new van will typically lose about 20-30% of its value within the first year. As it gets older it will continue to depreciate due to:
🛣️ Mileage
🚚 Condition
🎂 Age
📈 Market demand
High mileage and poor maintenance accelerate depreciation, while well-maintained vans with desirable specifications hold value better. Depreciation affects resale value, insurance premiums, and lease terms, making it a crucial consideration for both buyers and sellers in the van market.
Features that enhance van value
Popular features buyers look for
Van buyers have got work to do, and their vehicles have to keep up. They’re looking for practicality and efficiency, and if the vehicle is part of their business’s bottom line, then its costs and value have to stay front of mind:
⛽️ Fuel efficiency
🏋️ Load capacity
⛷️ Manoeuvrability
🙏 Reliability
📉 Low running costs
Do customisations add or reduce value?
Customisations can impact a van’s appeal and value. For example, a van customised for a mobile workshop with shelving, workbenches, and tool storage can be a valuable sale to fellow tradespeople. Similarly, a campervan conversion with a bed, kitchen, and storage will appeal to outdoor enthusiasts. Getting a great price is a matter of finding your market.
However, poorly executed or overly personalised customisations can have the opposite effect and reduce a van’s worth significantly. Potential buyers may be hesitant to purchase a van with modifications that don’t suit their needs or that appear unprofessional or poorly maintained.
FAQs
How do I find out the market value of my van?
The easiest way is on Motorway! Simply type in your van’s reg and mileage, and we’ll give you a free and instant estimated sale price that’s based on real-time market data.
Why do some vans have VAT and some don’t?
This depends on if the owner claimed back the VAT when they bought their van. If they didn’t, it probably means they weren’t VAT-registered. So the VAT won’t be chargeable when someone else buys the van. However, vans used for commercial purposes are more likely to need VAT payment.
Ready to sell your van?
Want to read more about owning, valuing and selling your van? Check out more of our guides here, covering everything from depreciation and maintaining your van’s value. Understand your car’s worth in the wider market.