I have never understood how it’s so expectable to give up 3years benefit towards motability and still have to pay thousands of pounds for a car of choice.. Lots here seem to think it’s fine, seems very strange to me though.. lower end smaller should be much cheaper IMO…
On the latter we absolutely agree. Things like Corsas, Fiestas and whatnot (cars that are basically under £17000 to buy) should not require the entirety of the mobility payment.
The cars that i’m looking at, not so much. Kim is correct in his math, but you’d need to see the other side. The car he’s looking at is £400 per month for private – with £5000 cash deposit, for a total of £11000 deposit (£6000 come from Peugeot). That doesn’t include tax, nor insurance, nor repairs (in 2.5 years, i saved over £600 in damaged tyres alone), and it still requires a £20000 end-payment. Over 47 months. For a total of (an unbelievable, for a Peugeot) £49000. This is where this argument here falls apart:
That’s around £370 a month and we will have nothing to show for it at the end of it. I can actually BORROW £13k from my bank over 3 years and it’s only £388 a month! And whatever car I spent it on would actually be mine at the end of it!
Yes, that’s correct – the issue here is that you’re looking at a car that costs almost £50k leased, not 13k. Or, if you want to just lease the car (like motability), just with the option of buying it, you’re looking at £23.500, not including tax and insurance. And that’s not even the top spec 3008.
The one thing where i unreservedly agree with Kim is the stupidity in regards to no-claim bonuses (or the fact that you potentially lose them when you go motability), and the fact that driving a motability car doesn’t actually count towards those.
In the end, the math shows that you’re better off with a motability car, unless you “need” to buy it afterwards (i can’t speak from experience there, only from what i’ve read – and the general consensus is that there’s no benefit to it).
Prior: SEAT Ateca Xcellence Lux 1.5 TSI DSG MY19, VW Golf GTE PHEV DSG MY23
Current: Hyundai Ioniq 6 Ultimate
Next: we'll see what's available in 2028.