Diesel leasing rising in popularity
Diesel car registrations are still falling dramatically but diesel leasing is showing a strong increase in popularity.
So says Vantage Leasing as its figures show diesel-engined cars remain the most popular among its customers, due to the risk-free nature of leasing.
Newly published figures from the SMMT show diesel registrations slumped 16.7% in November and 29.8% for the first 11 months of the year. However, Vantage Leasing’s data for the same period shows enquiries for leasing of diesel cars are actually up by 13% compared with 2017. Of this figure, 94% was personal contract hire while 6% was business.
The firm added that it believes the increasing popularity of leasing diesel models is because the lender or broker takes on ownership of the vehicle, so it is risk free for the customer, allowing them to select the best car for their needs without worrying about the future.
James Buttrick from Vantage Leasing said: “Many motorists are still keen to benefit from the performance of a diesel vehicle but are looking to leasing as a way of avoiding any falling residual prices.”
Among the most popular diesel cars on Vantage Leasing’s books are the Range Rover Evoque and Jaguar E-PACE.
Buttrick added: “We’re constantly adding new diesel models to our portfolio to keep up with demand. The surge in diesel popularity shows no sign of letting up as motorists still see the appeal of driving a diesel model, with cheaper running costs and greater torque, among many benefits.
“In fact, there’s no better time to lease based on the current economic uncertainty. The only knock on diesel is the potential for it to be worth nothing at the end of its lifecycle, however leasing takes that risk away.”