Are These Silly Fuel Prices Gonna Effect Car Prices (Again)?

[Mr Gaga]

Im ready to buy my next car. I have been holding back for about a year but are car prices going to take a hammering again (as happened in early 2008)?

Should I hold back? The trouble is I am missing some performance...

Due to the credit crunch I am unable to run two cars so I wanted to get a mint Tommi Makinen Evo 6 (in red of course) but even though I only do 8-10k pa I think super unleaded is going to be very expensive...

And I think prices are going to take a hit?

A lot of good Evo's (for example) are now available and I think fuel prices are 100% of the reason.

Edited by Mr Gaga on Friday 9th April 20:49

[10 Pence Short]

The fuel prices are really starting to bite. Since getting back on the road its very noticable how slowly a lot of cars are driving in 'open' conditions. In the 13 mile A road commute each morning and evening it's not uncommon for cars to be sat at a steady 45mph whereas 2 or 3 years ago it was a rare event.

[SupremeUK]

Petrol prices are killing the desire for cars for sure. Ok, in the UK there are enough cars already, but what's the alternative, expensive public transport?
I would encourage you all to join the facebook group called "PETROL PRICES - PLEASE READ AND JOIN!!!", it currently has just over 480 000 members, and it could be used to organise peaceful mass action, action that the government would need to pay more attention too.

[bazking69]

You could wait forever for a 'magical crash' to come and be disappointed when it doesn't. And if it does, fuel will be much more expensive than it is now anyway, negating the wait. My 2p.

Personally, if you can afford the car and are prepared to live with poor MPG go for it now. Owning thirsty cars is only going to get more and more difficult and economically prohibitive from this point. Where we'll get our buzz in 10 years worries me already....

Personally I'm glad I ditched 6 cylinders for 4 before Christmas. MPG has doubled and I'm more than happy with 390 miles for £55 of fuel at the moment, even if the offset is a boring car.

[daemon]

bazking69 said:

You could wait forever for a 'magical crash' to come and be disappointed when it doesn't. And if it does, fuel will be much more expensive than it is now anyway, negating the wait. My 2p.

Personally, if you can afford the car and are prepared to live with poor MPG go for it now. Owning thirsty cars is only going to get more and more difficult and economically prohibitive from this point. Where we'll get our buzz in 10 years worries me already....

Personally I'm glad I ditched 6 cylinders for 4 before Christmas. MPG has doubled and I'm more than happy with 390 miles for £55 of fuel at the moment, even if the offset is a boring car.

+1

The last time we had a 'fuel crisis' i'd an x5 consuming £500 of diesel a month.

I've now a Passat TDI and between the drop in finance costs, drop in fuel usage and through less driving i'm saving around £650 a month.

[daemon]

musclecarmad said:

Guys you have to understand the uk needs more revenue we are already spending more than we receive. Its the tax that's expensive not the actual petrol but if they drop tax they will raise in other areas. Get a good mpg car and cut expenditure as tax is going up and so is the cost of living. Range rovers, v8 vantages and bentley gts etc will take a kicking. So will 3 litre vectras and mondeos etc. Small diesels are now what you need and will hold value. Classica will retain value and so will most ferraris and non daily runners.

+1

This country is screwed and if they dont get it in fuel tax they'll get it somewhere else.

If they dropped petrol by 20p per litre they'd screw us over on VAT or income tax so you'd be no better off.

I think people are going to have to face up to the fact that if they chose to drive a 3.0 v6 then they're going to have to pay through the nose for the privilege of running it, even IF the purchase price is inticing.

Edited by daemon on Friday 9th April 17:09

[ex vtskid]

Look at it this way, how much is a TME going to lose in depreciation? Not a lot. Now you could get a 320d or whatever for the same price and how much is that going to lose? If you were doing more miles I'd agree but for the amount of mileage you're doing its not worth it.

I'm in the same position and sometimes when I'm filling up again I ask myself is it worth it and I always answer yes. I could have got a Golf TDI for the same money but it would lose more and be nowhere near as fun. If you can afford it go for it I'd say. Again if I did more miles my position would change.

[Dan_1981]

Some prices may get hit - but I doubt very much that a Tommi Mak is going to be one of them.

Not enough cars and too many buys - demand is always goign to be high for them - even if prices keep going the way they are - maybe prices of standard Evos will be hit along with other more standard cars, but I think proper special editions like the Maks etc will hold onto theirs prices.

[daemon]

ex vtskid said:

Look at it this way, how much is a TME going to lose in depreciation? Not a lot. Now you could get a 320d or whatever for the same price and how much is that going to lose? If you were doing more miles I'd agree but for the amount of mileage you're doing its not worth it.

I'm in the same position and sometimes when I'm filling up again I ask myself is it worth it and I always answer yes. I could have got a Golf TDI for the same money but it would lose more and be nowhere near as fun. If you can afford it go for it I'd say. Again if I did more miles my position would change.

True. I guess the O/P needs to decide if he can stomach a potential £3000 annual fuel bill, before adding in running costs and depreciation.

Also, bear in mind the effect piling on 10K miles a year onto a TME is going to have on its value.

You pays your money, you makes your choice.

Edited by daemon on Friday 9th April 17:27

[SystemParanoia]

im waiting for ls400's to fall some more

[frosted]

Or move to Venezuela where they are paying 0.7 per litre

[Deva Link]

frosted said:

Or move to Venezuela where they are paying 0.7 per litre

Is that a good place to go for a driving holiday?

[Gizmo!]

Immediate response: I hope so.

I don't drive during the week, only for pleasure. So I don't care if I'm only getting 20mpg, because those are all 'fun' miles.

Interesting point - the proportion of the pump price made up by tax is actually much LOWER than it was a couple of years ago, for one reason and another. Was up to 78%, now only 60% ish.

[Munter]

Of course if we want to stabilise fuel prices we could ensure we all vote blue. Apparently they are promising to "introduce Fair Fuel Stabiliser to reduce fuel duty as oil prices rise and increase it as oil prices fall".

Does mean it wont ever get cheaper though....

[Rocky Balboa]

It really depends what car it is imo. If it's rare or special enough then i don't think prices will be affected. People will pay if they have their heart set on a car.

Some car values are even on the rise due to the weak pound.

[Mr Gaga]

I need another performance car but may have to share with a mate. We have owned a RS11 Evo 6 before and it worked well (as we had other cars).

£7000 each is better than £14000 out of my funds.

I just can't help think car prices (for petrol cars) are going to drop a lot..

[Tallbut Buxomly]

Well i also personally think/hope prices at pump affect car values in a downward fashion towards the end of the year as my fuel is paid for so doesnt really bother me at this point.


On another note the rise in fuel duty is actually probably going to cost the government money rather than make them money as many people are going to abandon their cars and the gov will lose rev from ins tax road tax consumables tax and fuel tax.

All in a stupid move by Gordo the gormless but whats new about that.