Hi GlosGuy Although I’ve seen a lot of punters mention their great deals and I’ve not heard them hardly mention the interest rate I think its the rates that are scaring folk off, just like the bank of England is hoping. Being on Motability I don’t really follow the current trends for buying / leasing though I do look at the odd review from NotAGuru once and awhile and noticed some prices dropping of late but think that’s tied into those bank rates and less so the shortage of car parts. Both the waiting times and price drops for leasing should be good news for Motability and hope its not just Motability that benefit from it.
Hi again ChrisK
I didn’t mention interest rates as I’m not paying any interest, being a cash buyer. On 3 or 4 occasions in the past I have secured even bigger discounts by taking out a PCP and then paying it off in full a month later. It’s a loophole that many people exploit. You get to keep the full discounts and pay no interest and, as you then own the car outright, you are not subject to any PCP conditions. I haven’t had to do that this time, but admittedly the discount was much less than I’ve secured before. The discount this time was 10% whereas the last 3 cars I bought new (all from different manufacturers) averaged 20% discounts. The emails that I get from Drive the Deal show that discounts of that nature are still around though, even from some premium manufacturers. Like you, I don’t look at other leasing prices as my two options would be a lease through Motability or an outright private purchase.