Guessing your idea is that it’s will be on some sort of pcp deal and after 3/5 years you give back the car or pay the outstanding amount to buy it. Personally though imo it ain’t gonna work for many, or the big banks that run the scheme on behalf of the charity. Ideally the asset not being secured to them.
One may as well just sort out their own car using their allowance, if something was done regarding the vat and that’s the main point of me using the scheme all that is done for me with no hassle plus you get a new car to drive every 3 years..
I did say this a while back that the scheme was doomed and mainly that’s because the allowance is not keeping up with inflation and now low production output and demand above supply always increases prices.
Which imo has all been caused to generate the place the car industry is in now over where it was before. Covid has been used to stop production and limit sales, thus increasing sales / values of used cars that was just sitting around and no one was buying. Never mind the switch to ev’s and goverment policies effect on the market.
Many pcp deals don’t include insurance and maintenance, although it can be added for an extra fee. I have been looking at deals for my younger brother as his company said they’d fund him a car but the problem is the high mileage the scheme allows and he needs for his job, really bumps up the price.
In last 18 months since getting my latest car i’ve only done 8.5k so lower mileage might be ok for me now.
Personally when my lease ends, I won’t be extending it and won’t pay crazy inflated ap’s to lease another one. I’ll be going back to owning something and probally used over new.
Guess i’ll have to see then, but be getting something i can afford and going back to doing everything myself.
Personally all cars lower or higher ones i have issues getting in and out of, but once you in it, seated, to me that is what really matters. So my last 2 have been car’s, over suv’s or mpv’s. Which i’ve had before.
I do think we all need to lower our expectations of what we can get moving forward, especally for an affordable ap, 3k+ for me is not affordable, nor is it justifiable. nor do i feel it is Motabilites fault. It’s what the market has become.
Limits have been put on car makers in some form or another for years and now they face huge fines also if they do not comply. The only way they can avoid these fines now i feel, is to produce less cars, as producing any car create’s a footprint. They do not want us the ppl owning cars and slowly they doing everything they can to put that plan into action. The demise of the car, except for the elite few, who will beable to afford to do what ever they want but us, we cannot and will not be allowed to..
Don’t really help you with you date due soon to exchange or pick another car but for me, I considering other options now for when my time comes. I may see a good deal and may end early.