Everything is more expensive and public funded money has been relatively stagnant for a decade. This was always going to put pressure on us as car prices increase beyond the rate that our monthly payment can cover. The only place to put the difference is on the AP. Then there’s the resale value, which is showing how everyone is feeling the pressure and demand on 3 year old cars is down, pushing the amount we have to fund up. EVs are struggling more than ICE but the reduced servicing costs are also helping keep the AP down as is the pressure on manufacturers and retailers to get them sold, so it’s much easier for Motability to grab a massive discount.
All this puts pressure on us to find increasing amounts of money every 3 years. For many it’s just an annoying inconvenience, but for some that pushes them either into applying for a grant or unable to continue on the scheme.
For those mentioning Tesla, the sole reason they’re not on the scheme is that the retail setup doesn’t work with the Motability requirements. Last time I looked, we’d have to have 2 trips to Bristol (160 miles each way) to test drive and then collect. If this is the choice for some, the car can’t be suitable for the scheme. Then there’s whether Motability can negotiate suitable prices to ensure the cars are not priced as ridiculously as the EV6.
The scheme will change eventually, whether that’s pushing up the lease duration as protection from depreciation (the drop from years 3-5 is significantly less than just year 1) or even adding some form of savings scheme to help us achieve increasing APs we will have to wait and see. The problem is that currently, demand is sufficient that people won’t believe there’s an issue.
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