Hmm I read it as instead of wanking over the car (in excitement) as they normally would they 'f*cked' it (as in 'it is screwed') because it has had a bit of a slating.
Wanker = Jerkoff btw. (also see 'tosser', 'knob jockey', 'plum plucker', 'cock wrencher' and 'American' ... oops sorry just a joke ;-))
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