I think you are facing a similar dilemma that many of us will face as our renewals loom Mike. For those who are insistent on having a brand new car and are prepared (and able) to sacrifice £10,725 in benefits (or £17,825 if extending to 5 years), plus AP plus any options and/or (paid for) adaptations, and do not have the means or credit rating to consider private alternatives, then Motability is a fantastic option. This, of course, assumes that the car that would be your ideal choice is available on the scheme.
However, it’s a hell of a big financial commitment for something that might be a compromise, and that’s where we are struggling as, like you, we are fortunately in a position to buy privately. There’s nothing on Motability at present that we would be prepared to pay as much as is being asked for them and whilst a few would probably address our ‘needs’, none would excite us and also tick the ‘want’ box. As a result, for the last year we have been saying that we will almost certainly leave the scheme when our current lease ends and look to buy something privately – probably a BMW X3 or X5, neither of which will ever make it on to Motability.
Quarter 1 took me a bit by surprise though. Whilst there’s still nothing to excite me, there were some definite improvements in choice and as we don’t need to start looking for another 4 quarters, I am now thinking that there’s an outside chance that something of interest may just appear by then. The one thing that I’m not keen on doing is a lease extension beyond 3 years, as I feel that it’s a very poor deal for the customer and a very nice earner for Motability. However, the ability to extend is invaluable if considering leaving the scheme, as you can order a new car privately, keep driving your Motability car and just hand it back on the day that your new car arrives.
Everyone’s needs, wants and financial circumstances are different, so only you can decide which option is best for you. I’m sure you would anyway, but have a good test drive of a Mercedes GLB before buying one though. I had one for a week and was unimpressed with it!