If Motability offered a car that we would be happy with then I’d stick with them as, even with the average £400 hike in APs following the budget, the block VAT exemption should still make Motability the cheaper leasing option.
When you purchase a new car, as soon as it is registered and driven off the forecourt the car loses value, and this also includes the VAT value.
Yes, I appreciate that. As you know, we are eligible to buy a new car VAT free, but even with zero VAT and an assumed 13% discount on top (reflecting current DrivetheDeal discount) the X5 I would like, with all the options I’d want, is still around £70k. I just can’t bring myself to sink that sort of money into a car, which is a depreciating asset. I think it’s going to have to be a second hand one but, even at 5 years old they are still well over half that 😱