Secondhand car prices have fallen about 10 per cent since hitting a peak in February and will keep gradually dropping, although it may take up to two years to return to normal says the departing boss of ASX-listed vehicle leasing group Eclipx.

Eclipx, which has 91,000 vehicles on its books via fleet management and novated lease businesses FleetPlus, FleetPartners and FleetChoice, delivered a 36 per cent rise in annual net profit after tax to $103.3 million after a windfall from elevated used car prices as it sells vehicles at the end of a lease.