I imagine going forward this will be an offer for all exsisting 3yr contracts But wonder if/when we will see a 5yr min contract brought in for all new contracts
5 year leases should definitely be an option for everyone, especially if accompanied by a lower level of benefits sacrifice in years 4 and 5 to reflect the significantly lower depreciation (which, of course, wouldn’t happen) but I just can’t see a scenario where 5 year leases become compulsory. Motability would lose far too many customers when people work out that a 5 year lease costs them £20k (PIP rates), plus the AP, for a car that you’ll never own. For me, 3 year leases just tip the scales in favour of sticking with Motability, as long as we can get a car we are happy with. If 5 years became compulsory it would be a no brainer for us to ditch Motability and revert to running a car privately, as would, I am sure, most others whose financial position gives them that option.