Rising fuel prices could adversely affect the values of large SUVs over the coming months, a new study has warned.
With petrol prices heading toward a record 120p per litre - stimulated by the Budget's 3p fuel duty rise - values of 4-x-4s are likely to take a hit, according to used car website Carsite.co.uk.
The study also underlined that the Range Rover Sport, Audi Q7 and BMW X5 are most likely to suffer a residual value crash, due to the fuel price hike.
According to the website, the last downturn stripped thousands in value from used off-roaders and large family cars, with many owners unable to sell their vehicles on.
Nearly £6,000 was wiped from the CAP trade value of both the Range Rover Sport and BMW X5 in just six months, during the fuel price surge in 2008.
Alistair Jeff, sales director at Carsite.co.uk, said: "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," said
"Whilst the proposed showroom tax will make buying large four-by-fours even more expensive, those who have recently invested in a new gas guzzler could be about to suffer from increased depreciation with their vehicle."
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