I’m not sure people understand what the AP is made up of?
it’s not an arbitrary figure, but it’s based on
price of car, plus insurance (I think it’s fleet insurance) ave cost of tyres and any maintenance costs
less the PIP payments
less the assumed resale after lease.
the difference in cost is the amount looked at to make up the AP. This used to be held as a maximum ceiling price, but I think that this has been removed due to the above factors changing
to me,the issue is the PIP payment is insufficient for todays cars prices, as it’s not gone up by todays costs.