Hunting for Diesel-Powered Trucks and Cars That Can Save You Money

Summary

Diesel vehicles are known for their fuel efficiency, but do they really save you money in the long run? This article explores the costs associated with owning diesel-powered trucks and cars, including purchase price, maintenance, insurance, and depreciation. We also highlight some surprising statistics and insights that you might not be aware of. Read on to find out if a diesel vehicle is the right choice for you.

The Cost of Ownership

Initial Purchase Price

Diesel vehicles often come with a higher initial purchase price compared to their gasoline counterparts. According to Vincentric, a company specializing in cost-of-ownership analysis, diesel vehicles can be more expensive to buy upfront. For instance, the Mercedes-Benz GL350 Bluetec has a purchase price that is only $101 higher than the gas-powered GL450 4Matic, but this small difference can add up over time.

Fuel Economy

One of the main selling points of diesel vehicles is their fuel efficiency. Diesel engines generally offer better miles per gallon (mpg) compared to gasoline engines. For example, the Mercedes-Benz S350 Bluetec 4Matic achieves an EPA-estimated 21 mpg in the city and 31 mpg on the highway, which is significantly better than many gasoline-powered vehicles in its class.

Maintenance and Repairs

While diesel engines are more fuel-efficient, they often come with higher maintenance and repair costs. Modern diesel vehicles require a urea reservoir to neutralize emissions, adding another layer of complexity and cost. According to Jesse Wurster, president of Vincentric, diesel vehicles typically have higher insurance, repair, and maintenance costs compared to gasoline vehicles.

Depreciation

Diesel vehicles tend to depreciate at a slower rate than gasoline vehicles. However, because they are more expensive to purchase, the total dollar amount of depreciation can be higher. Vincentric's analysis found that diesel vehicles generally have lower depreciation rates, but the overall cost of depreciation is still significant.

Detailed Analysis

Vincentric analyzed 23 diesel vehicles available in the United States, including 12 classified as private vehicles and 14 as consumer trucks or cars. The study looked at the total cost of ownership over five years, assuming an annual mileage of 17,000 miles. According to this analysis, nine diesel vehicles had five-year ownership costs lower than their gasoline counterparts.

Top Diesel Vehicles for Cost Savings

Here are some of the diesel vehicles that offer the best cost savings over five years:

Surprising Statistics

• Diesel Market Share: Diesel vehicles account for only a small percentage of the U.S. market. According to the Diesel Technology Forum, diesel-powered cars and light trucks make up just 3% of the total vehicle market in the United States.
• Fuel Efficiency: Diesel engines are 20-30% more fuel-efficient than gasoline engines, according to the U.S. Department of Energy.
• Emissions: Modern diesel engines with clean-diesel technology produce 10-20% less CO2 compared to gasoline engines, as per the Environmental Protection Agency (EPA).

Conclusion

While diesel vehicles offer better fuel economy and slower depreciation rates, they come with higher initial purchase prices and maintenance costs. Whether a diesel vehicle is a better financial choice depends on various factors, including your driving habits, fuel prices, and how long you plan to keep the vehicle. For those who drive long distances and prioritize fuel efficiency, a diesel vehicle might be a worthwhile investment.

For more detailed information on vehicle costs and fuel efficiency, you can visit Vincentric and the U.S. Department of Energy.

By understanding the full scope of costs associated with diesel vehicles, you can make a more informed decision that aligns with your financial goals and driving needs.