On Octopus lease its £315/month, £20 cheaper than Motability, with £1890 AP for 4 years.
For 5000 miles a year. For 20000 miles it goes up to: £385 per month with £2310 upfront.
Indeed, but not many users actually do 20K /year, and motability does not give a discount for low miles. But if you only do 5K miles/year, it’s cheap as chips , especially for 4 year term. Yes you do have to insure it. But still…it’s better than what motability offers. If your PIP amount increases, with inflation, it goes in your pocket and not motability,s.
Even if I only did 5k a year, which I exceed, there’s still insurance and servicing and RAC with all the repair costs included, plus tyres.
Whilst I agree that leasing could be a suitable alternative, that requires you working and having a decent credit score. For those of us not working, that leads to a problem where, at best, costs rise.
The current offerings aren’t fantastic but I’ve got a year yet and we all know so much can change in that time. Worst case I will go to the grants team and say the 5 is suitable and they’ll extend it.
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