Are you thinking about buying a new car? Unsure about whether to go petrol, diesel or electric? The latter are becoming increasingly commonplace on the UK’s roads, as the government plans to achieve net zero emissions by 2050.
As part of that objective, the authorities have also planned for the sale of new petrol and diesel models to be banned by 2030 and it seems that the initiatives are having an effect. Data from the Society of Motor Manufacturers and Traders reveals that diesel models made up a 16% share of the market of new car registrations in 2020 – down from 25.2% just 12 months previously.
So, what does this mean for diesel cars, and is it still worth buying one in 2021?
The pros and cons of diesel cars
Despite their dwindling popularity, there are still plenty of advantages to owning a diesel car. For example, they are typically more fuel-efficient than petrol models, which makes them more cost-effective for those who cover long distances on a regular basis. They are also more suitable for larger vehicles or those required for towing.
The flip side of that, however, is that petrol models are more suited to smaller vehicles and to inner city driving. And of course, fully electric cars produce no carbon emissions, so diesel vehicles cannot compete in those terms.
The depreciation of diesel cars
Studies show that diesel cars are also depreciating faster than their petrol counterparts, so if you are to purchase a diesel model in 2021, be aware that its value may drop significantly over the next few years.
This means diesel models may not be the way to go for those looking to finance their vehicle on a hire purchase basis through Go Car Credit, as they are likely to be left with a car that is worth a lot less at the end of their finance agreement than it was at the beginning.
What does the future look like for diesel cars?
The impending ban means manufacturers have already begun to cut diesel models from their offerings, so your choice may be limited over the coming years. There are no plans to prohibit diesel models altogether, however, and their falling value could mean that they offer greater value for money. Beware, though, that there have been suggestions of banning diesel models from entering city centres, so be sure to plan your purchase to suit your driving needs and habits.