Very few, if any, private leases offer the same degree of flexibility as motability, I terms of mileage, maintenance, service, the condition of the car on return and especially the ability to change cars in the event of a change in circumstances. For someone with a good driving record living in a low risk postcode and covering less than 6-8000 miles a year there are some good options, but for many this does not apply, coupled with the need to pass a credit assessment.
This is where I disagree. My last privately leased car was a BMW 4 series, a car that has never featured on Motability. I negotiated a deal with the leasing company for 30,000 miles per year on a 3 year lease for what they were quoting for 20,000 miles a year. I got insurance for just over £400 per year and took out a fully inclusive maintenance package at reasonable cost. I looked after the car but just before the end of the lease took it down to my local body shop who gave it the once over and touched up any small scratches for less than £100. At the end of the lease I returned the car and that was the end of the matter, no additional costs incurred.
At the time there was nothing on Motability that I fancied. Luckily for me the BMW 3 series came on the scheme just as my lease was about to end so I went for that and don’t regret it. However if I had to choose today, I would definitely got back to leasing privately.
My son does less than 5k miles a year. He leases his car privately and like me he looks after them. Again there was nothing on the scheme that he fancied being under 25. If there had been he would have gone down the Motability route.
Private leasing isn’t for everyone but neither is Motability.