Drivers are always looking for ways to cut costs. Whether it's hunting for the lowest gas prices or taking preventative measures like getting regular vehicle maintenance to extend the life of a car, most motorists are willing to put in some effort to save money. If they really want to ease the pressure on their bank accounts, they should look to diesel vehicles, which tend to have a lower cost of ownership.
A new study from the University of Michigan Transportation Research Institute found that the ownership costs associated with diesel vehicles were lower than those of traditional cars. In fact, these environmentally friendlier automobiles typically cost between $2,000 and $6,000 less over the course of three to five years.
"The significant savings diesel owners experience compared to gas car owners highlights another major reasons why clean diesel vehicle sales will increase significantly throughout the U.S. in the coming years," said Allen Schaeffer, director of the Diesel Technology Forum. "... This is an exciting time for diesel vehicles, as the number of diesels is expected to more than double in the next two years."
Diesel automobiles are less expensive because of the high fuel efficiency they boast, which allows motorists to make fewer visits to the gas station, and also results in a lower rate of depreciation. This means motorists can get good deals on used cars or even upgrade their vehicles without making up a huge difference in price.