Van owners are enjoying solid residual values, despite the ongoing slump in the car market.

According to Cap Red Book, while a typical three-year-old car is worth £1,000 less today, compared to when the new car pricing row started two years' ago, vans are worth broadly the same - and the value of some models has risen.

John Watts, Cap commercial vehicle values forecaster, said: "The light commercial market has traditionally been stable. This is in contrast with the heavy commercial sector, where legislation has brought about significant changes and the car market, which is only just emerging from a crisis of confidence."

He added: "The linchpin of solid values in this sector is sustained retail interest. Rising numbers of self-employed and small traders are providing a strong market for used vans, which means that demand is keeping pace with supply."