The price of fuel may have plummeted in recent months, but opting for a gas guzzling machine still might not be the wisest idea, claim car cost experts CAP. Though many buyers may be considering opting for a good value big-engined petrol sports car or oversized off-roader, this can still prove expensive.
What makes thirsty petrol cars a false economy – apart from the fact that fuel prices could rocket just as fast as they’ve fallen in the last six months – is that savings due to lower prices could be outweighed by pricier car insurance, higher road tax and increased maintenance charges, causing CAP to brand choosing a gas guzzler a ‘schoolboy error’.
Philip Nothard, Retail and consumer expert at CAP, told the Press Association: “Suggestions that sensible people will suddenly look afresh at gas guzzlers are misguided and potentially misleading.”
Any motorist taken in by the idea that less efficient cars are suddenly an attractive proposition again could find themselves locked into a long-term finance deal, then stuck with a car that they can’t sell at the end of it.
"Dealers could find themselves sitting on stock they can’t shift and any motorist taken in by the idea that less efficient cars are suddenly an attractive proposition again could find themselves locked into a long-term finance deal, then stuck with a car that they can’t sell at the end of it."
However drivers look at costs, the numbers don’t add up to make less efficient engines a good value option in light of lower fuel prices, Nothard continues.
“Even if pump prices remained as low as they are today, for the next few years, road tax and other motoring bills would continue to outweigh any savings on fuel – even with unleaded around 30 pence per litre cheaper than it was a year ago.”
February 18, 2015