Looking at a general quote for the same Q4 on a private lease it’s reading as £4,330 up front then £481.12 for 3 years and you’re only allowed 5,000 miles a year. That’s £21,650 without insurance and maintenance that Motability will provide, if it goes in for something at takes a while, you’re either reliant on the courtesy car from the dealership (if you can get one and if it’s suitable) or hiring one yourself. Plus you’re going to be penalised for exceeding 15,000 miles. I understand it’s a lot of money, it really is for something you don’t own but a lot of people are leasing now and at least Motability gives you a reasonable deal, even if it is a lot up front, for the same service. You can’t really compare a lease with purchasing, although that could well be the alternative if you are sufficiently credit worthy.
I agree that when it comes to leasing comparisons, Motability is hard to beat (although purchasing, for those who are able, is much cheaper). However, some things to keep in mind when looking at PCP deals (which most people ‘leasing’ privately use). Firstly, the prices quoted are always negotiable, often by a considerable sum. I get regular updates on current deals and interestingly Audi usually offer some of the best! Secondly, most Motability customers are very low mileage users, often lower mileage than the default premiums quoted. Again, more room for further savings for those in that position. I have never had any problem getting a free courtesy car or a free pick up and return (with sensible advance notice). Finally, PCP deals are configured so that the final balloon payment is always well below what the car will be worth. This provides those who don’t want to buy the car (most don’t) with a surplus value over the balloon payment as a balance for their next car. Wouldn’t we all like some upside on the current high residual values on our Motability cars!
Having said all of the above, if I was inclined towards an EV, with all the current turbulence and uncertainty in that market, I would feel much happier sourcing one through Motability ?