Obviously in the meantime, they’re making a fortune on unrealistically high resale values.
That’s the problem. I said on a previous post, our car is a much in demand MHEV estate, based on what Motability will have paid and what the current trade in price is, Motability have only lost around £1800! The PIP contribution over the lease term is around £10k. Motability are making too much money out of certain leases.
Accepting that, I have a question. Do you think there may be some leases where they make significantly less or, potentially, losses? Could there be a case for asking your MP if there’s justification for parliament forcing some kind of payback on cars affected by these artificially high resale values? Something where the payments made out of our benefits must be reflected in the profits they’re making and, like the energy companies, the cause of the profit is not good management but rare luck from market forces they’ve no influence over.
I think a more personalised lease plan is the way forward. Have a guarantee that customer won’t pay more than the AP and PIP contributions, but also have a percentage returned if the car has made a profit over the course of the lease. As it stands the profit on our car is going back to Motability to do with as they wish, be it charitable donations or helping others with grants towards AP’s. Meanwhile we are coming off the scheme as we are no longer prepared to pay the crazy AP’s on top of £10k + in PIP. Something needs to change.
Enyaq EV