With so much negative press around the diesel scandal last year, many diesel car owners and prospective diesel car buyers were understandably wary about where this could leave them financially in the future.
Well as time has gone on, it would appear that the diesel scandal will leave Residual Values (RV) of diesel cars unaffected. This is great news for both the automotive industry and the owners of such vehicles.
The Vehicle Remarketing Association (VRA) has said that up to now, the residual values of the biggest majority of diesel vehicles has been unaffected by the scandal although they continue to monitor this situation for any changes.
It takes years for ‘car habits’ to be formed and years for car habits to fall away therefore it shouldn’t be taken for granted that all diesel cars will remain unaffected. The newer the vehicle the less likely it is to be affected whereas many old diesel vehicles are now entering ‘banger’ status and will most likely see a drop in value.
There are other factors that should be given consideration are those cars that are local to new environmental incentives such as cleaner air in cities. Car located in areas such as these are likely to take a bigger hit on Residual Value than those located in areas where incentives have yet to be introduced.
Despite the scandal, it is safe to assume that diesel vehicles are still likely to play a large part in the make up of any fleet, so it would appear that you don’t have to dump the diesel any time soon!
So, if you’re tempted to update your diesel model, or you’re looking at moving over to a diesel from a petrol then why not take a lease? Cocoon Vehicles can assist you with both leasing and vehicle sourcing and provide both minilease, short-term lease as well as longer term leases. Give the team a call today on 01332 290173 or complete the form below and we’ll be in touch as soon as we can.