The Future for Diesel Ahead of the 2040 Ban
It has been a rocky period for diesel automobiles with sales plummeting, charges being introduced and the cost of fuel soaring. This is, largely, due to the Government’s clean air plans where they are looking to deter motorists from driving a diesel and instead switching to an eco-friendly vehicle. They currently are aiming to ban the sale of petrol and diesel cars by 2040, but what does this all mean for diesel in the next few years?
Cheap Diesel Cars
Although the future does not look great for diesel cars from 2040, some motorists will see it as a good time to invest in these automobiles in the next few years as the cost will fall drastically in the used car market. Current owners are encouraged to turn over their car as part of diesel scrappage schemes, so there are many second-hand diesel models entering the used car market. Due to their uncertain future, it is likely that these will cost a fraction of what they would have just a few years ago.
Avoiding Charges
The tax rise on diesel cars was not as heavy as expected and will only impact those buying brand new (from April 2018) or a driving a company car. There may be some extra costs in being an owner, but motorists can avoid some charges by buying a nearly new diesel that is not as pollutant as the older models (compliant with the latest emissions regulations).
Avoiding Drop in Value
Diesel cars are worth considering if you have high annual mileage and/or you require a large automobile, but their plummeting value could be an issue when it is time to sell the car on. It is for this reason that it is a smart move to lease or take the vehicle out on PCP finance if the demand for diesel falls.
Protecting Yourself in the Market
With so many diesel cars entering the used car market and sellers looking to quickly get rid of their vehicles, it is important that you are careful when shopping for a second hand diesel. A vehicle history check from HPI is the first line of defence against used car scams and ensures that you are not purchasing an unsafe vehicle.
The green car revolution is fully underway, but there is still some future for diesel models in the run-up to the proposed 2040 ban. They are likely to become much more affordable and could be a smart investment if you choose one of the cleaner and newer models.