A while a go, they requested the AP cap to be raised, now its raised they say I can’t afford it, now I am confused.
I’ve consistently said that I see no need for any price caps, as long as the AP reflects the additional lease costs. I think that those of us advocating that were hoping that the higher APs would mean much better cars. The issue we have now is that APs for bog standard cars have risen massively and those cars that are joining the scheme at very high APs are mostly EVs (which aren’t for everyone – yet) that are either base models and / or poorly rated i.e.cars that are hard to shift to private buyers.
I think that’s the state of the market at the moment. Manufacturers seem to have moved away from the factories running out the most popular options for days on end in the hope that they can sell them towards manufacture to order with a premium as well as a wait for customers. Somehow, the market has taken that and accepted it. For us that means the only ones they’ll offer are the base models unless there’s a reason not to (like the ID4 longer range). Maybe in the next few quarters the offerings will improve, as the Enyaq stepped from one model with 3 design options to 8 over 2 battery sizes, maybe the Mach-E will add the longer range option at a higher spec. For non electric cars, it seems the choices come and go nearly as much as the Funky cat. I’ve noticed diesels dropping off rather dramatically, leaving either weaker petrol or hybrid of some form.
The problem is that prices in general are much higher than, say, 20 years ago. To think that there are Vauxhalls pushing towards £50k (Grandland) which means the Audis/Mercs and BMWs will easily charge towards £100k. I know residuals will help but a 3 year lease on an Audi at £65k will require a huge AP, even by EV standards. I can’t imagine the backlash at £15k up front and all your allowance for 3 years.
The only upside, for those who can take advantage of them, seems to be that EVs aren’t necessarily following the badge loyalty that ICE holds. It appears decisions are about ride quality, comfort and range above the image, so a Korean brand can lead the pack with the EV6 and Ioniq 5 or 6 plus the bigger EV9 coming while the BMW iX has a relatively modest following as its value is utterly eye watering. Maybe Audi are bucking that trend slightly with the Q4 e-tron but it’s still a different market place for those traditional premium brands.
I'm Autistic, if I say something you find offensive, please let me know, I can guarantee it was unintentional.
I'll try to give my honest opinion but am always open to learning.
Mark