VAN residual values are set to benefit as manufacturers offer longer warranties. CAP Red Book senior editor David Hill said: 'Extension of warranties is a way of winning retail favour to the discount culture in the van market.

'What interests us is the impact of these new warranties on residual values. Some early examples are about to start filtering into the market in the form of early terminations and finance repossessions. We have so far observed these failing to achieve any kind of premium but that is down to ignorance because you can't tell by looking at a van how well covered it is.'

He believes when word spreads, attitudes will change.