Drop in 4x4 values
Values may crash to the lows of 2008
Average price of petrol up to £1.07 per litre
Dealers already cautious about taking 4x4s
Car buyers looking at 4x4s should be cautious to avoid becoming victims of a crash in values caused by rising fuel prices.
With oil prices rising as the global recession begins to subside and a recent increase in fuel duty, there could soon be a repeat of the conditions that caused the 4x4 market to crash last year.
Values of 4x4s collapsed after fuel prices reached record highs in July 2008, but 12 months on had all but recovered.
If this happened again, owners could witness thousands of pounds wiped off the values of their vehicles in a matter of months.
Last summer, when the average price of unleaded reached £1.20 per litre, dealers were refusing to take petrol 4x4s in part exchange because they would be virtually impossible to sell on.
But the price of unleaded petrol reached an average of £1.07 per litre at the beginning of September following a 2p per litre rise in fuel duty - more than 20p per litre higher than the low of 85p seen in January 2008.
Drop in 4x4 values - Parker's
Average price of petrol up to £1.07 per litre
Dealers already cautious about taking 4x4s
Car buyers looking at 4x4s should be cautious to avoid becoming victims of a crash in values caused by rising fuel prices.
With oil prices rising as the global recession begins to subside and a recent increase in fuel duty, there could soon be a repeat of the conditions that caused the 4x4 market to crash last year.
Values of 4x4s collapsed after fuel prices reached record highs in July 2008, but 12 months on had all but recovered.
If this happened again, owners could witness thousands of pounds wiped off the values of their vehicles in a matter of months.
Last summer, when the average price of unleaded reached £1.20 per litre, dealers were refusing to take petrol 4x4s in part exchange because they would be virtually impossible to sell on.
But the price of unleaded petrol reached an average of £1.07 per litre at the beginning of September following a 2p per litre rise in fuel duty - more than 20p per litre higher than the low of 85p seen in January 2008.
Drop in 4x4 values - Parker's
