Sell my petrol car the Motorway way

Car depreciation refers to the difference between what your car is worth when you buy it and what it is worth when you come to sell. It is closely linked to both the age and mileage of the vehicle. It finally comes to an end at the point that the vehicle reaches a ‘scrap’ status – when its value will be close to zero.

The average rate of depreciation in the UK for older petrol vehicles has sped up rapidly in recent years, as the nation approaches the 2035 electric vehicle ‘switchover’, which will ban the sale of all new fossil-fuel cars. This is likely to continue as the deadline for the ban draws closer. 

The recent introduction of London’s Ultra-Low Emission Zone (ULEZ), and other city-based clean air zones (CAZs), has accelerated petrol car depreciation rates still further.  

Recent research shows that electric cars hold around 48.9% of their value after three years and 30,000 miles. Whereas petrol models only retain around 43% under the same conditions.

Yes. The ban will only affect the sale of new fossil-fuel cars. 

The sale of new petrol and diesel cars will stop in 2035 as the UK government introduces its electric vehicle ‘switchover’. This is part of an overall strategy to cut carbon emissions in the UK. 

 To avoid the most serious effects of climate change, UK government scientists have stated that carbon emissions must drop to net-zero by 2050 – and the government has signed a legally binding contract to reach this target. 

The introduction of the electric switchover will not technically impact drivers of petrol and diesel cars – and they will still be available to buy second hand. However, it does mean that no new fossil-fuel models will be produced or sold in the UK and, as the consumer mindset moves towards greener, electric vehicles, petrol models are likely to become significantly less desirable.

There are no plans to ban petrol cars outright in the foreseeable future.  

You will still be able to drive your petrol car after 2035. The ban will only apply to new cars and there are also currently no plans to ban the sale of petrol.

The Society of Motoring Manufacturers and Traders (SMMT), the UK automotive industry experts, suggest that the average lifespan of a petrol car is around 14 years. So, even if you’ve recently bought a brand-new petrol car, and have no plans to trade up to something else in the foreseeable future, you will be able to carry on driving it for as long as you need – assuming it remains roadworthy. 

If you think it is likely that you will develop a more ecological mindset or will want to beat the rush towards buying an electric vehicle ahead of 2035, you may be able to take advantage of car scrappage schemes. EVs are also likely to become much more affordable in the near future, with nearly £600 million in grants being made available to make production cheaper.

It’s difficult to predict what will happen following the switchover, as there are naturally many variables to consider. However, the likelihood is that the cost of fossil fuels, like petrol, will increase as fewer consumers use them – and, therefore, traditional fossil-fuel vehicles will most likely become less desirable with average consumers. 

Whilst it is possible that there will be a surge in sales of petrol and diesel cars in the run up to the switchover, drivers of electric vehicles (EVs) will not pay road tax, will avoid congestion charge costs, and spend much less money refuelling their cars which will make them more desirable – and this will likely have a negative impact on the prices of petrol vehicles.  

Recent research shows that EVs already hold around 48.9% of their value after three years and 30,000 miles. Whereas petrol models only retain around 43%, under the same conditions. 

As EV technology advances, the likelihood is this will have a positive impact on the resale value of electric cars – which will, in turn, continue to negatively impact the price of used petrol vehicles.

However, on average, electric vehicles do not depreciate any faster or slower than petrol of diesel models.