'Fuel hike could mean lower 4x4 prices for used car buyers'
Posted by Sebastian Turkenburg
With the fuel duty increase looming, it may not all be bad news for consumers looking to invest in a second hand vehicle.
Online auto company Carsite.co.uk has suggested that prices of some used cars could drop in the coming months following the Budget announcement that fuel prices are to increase by 3p.
The vehicle most likely to see their values drop are thirsty 4x4s, the firm states, with prices for the models having the potential to fall by ten per cent over the next six months, the company forecast.
Sales director at the firm Alistair Jeff commented: "With record fuel prices potentially sustaining at these high levels we could see a repeat of the knee-jerk reaction experienced in 2008 that saw dwindling values in the large family car market."
This could be good news for Britons hoping to find a family vehicle at a purse-friendly price.
Meanwhile, auto intelligence firm EurotaxGlass's recently announced it expects some car manufacturers will reduce the list prices of new cars in the UK in a bid to counteract a fall in sales resulting from the end of the scrappage scheme.