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Please forgive me if this is common knowledge…….
This extract from the link below it
Net of this support provided to existing customers and Motability, we report a post-tax profit of £559.9m. This financial result provides us with adequate capital headroom in the context of our growth expectations and in light of our commitment to invest £300m over the next five years to support the “worry-free” transition to electric vehicles for current and future generations of customers.
This result has also enabled us to provide additional affordability support to all new and renewing Car Scheme customers in the form of a £250 payment towards the cost of their next lease. This will be available for all existing customers as of 31 December 2021 and payable at the point at which they renew into their next lease and to any new to Scheme customers who either have a pending application which is delivered or who place an application during the 2022 calendar year. A support payment of £100, which will be based on the same criteria, will also be available to new and renewing PWSS customers. In total these payments represent an investment of up to £180m towards supporting customers’ affordability.
https://www.motabilityoperations.co.uk/our-performance/financial-highlights/
Update:
Full Information here:
https://news.motability.co.uk/scheme-news/new-vehicle-payment-introduced/
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So even if ordered a car in 2021 and delivery is 2022 ,£250 is paid towards the AP??Or have i read it wrong.I havent seen on here many people taking delivery of new cars and mentioning they received £250 and GCB.
I read this “payable at the point at which they renew into their next lease” to mean when you enter your pin to go into a new lease.
So yes I would think you would qualify for it.I’m sure someone will correct me if I’m wrong ?
Or better still confirm you are right @garry ?
First I’ve heard of it, but good if it’s true. However, I note that they are giving back less than one-third of the surplus profits that they have made. So, rather than a token £250 per customer, why not effectively hand back all of it and reduce all AP’s by £750? Oops. Sorry. I keep forgetting the Motability Operations staff bonus scheme. That extra £500, along with the extra profit from selling returned cars at currently inflated used car prices, will go a small way towards funding the thousands of pounds bonus that the staff will all receive this Christmas! Still, at least benefit recipients have a £10 Christmas bonus to look forward to!
Motability giving their customers £250 towards AP’s.
Car Manufacturers: “Great we can increase our prices by £300 whilst everyone’s still concentrating on the £250 giveaway.
Motability giving their customers £250 towards AP’s. Car Manufacturers: “Great we can increase our prices by £300 whilst everyone’s still concentrating on the £250 giveaway.
Did someone knock your half empty cup over Graeme??
I personally just missed out on it but thought it would be good news for a lot of people
Wouldn’t it be much fairer to give a rebate to those currently on the scheme? Adler all they are the ones paying the money which generates the profits.
After all.
If true, good.
We can argue all day whether or not it’s enough, if and what more could be done etc pp – but if this is indeed happening, i’m happy about it. £250 is £250, a lot of money for some and potentially opens a few options for people less fortunate.
I will however give Motability a call now to hear “from the source” who that applies to, if it applies, etc pp.
Prior: SEAT Ateca Xcellence Lux 1.5 TSI DSG MY19, VW Golf GTE PHEV DSG MY23
Current: Hyundai Ioniq 6 Ultimate
Next: we'll see what's available in 2028.I have just come off a long call to Motability who in the end confirmed this applies to me as I picked up my new car on 6th Jan, happy days, thanks very much for this post garry ??
Hm.. stuck in queue, so i decided to use the livechat.
After asking the question in regards to the £250 “contribution”, this is what came back.
“Really great question and it’s definitely something that I can clarify for you.
Please may I ask where you have see this information and provide me with the link if possible?”
I then went ahead and explained where i found it (well, someone else found it).
Next answer:
“Thank you for kindly confirming.
With rising energy, fuel prices and other everyday living costs increasing, we are pleased to announce that we will be introducing a one-time new vehicle payment of £250.
You will need to have had a live agreement with us on the 31st of December 2021 or placed a new application/received your new vehicle in 2022.
You will only receive the payment when you take delivery of your new vehicle and we will begin issuing the payments on the 1st of February. For our customers that took delivery between the 1st of January to the 31st , the payments may not be received until the 18th of February.
Payments will be issued via bank transfer or cheque, depending on your payment preference.
If you have added your bank details with us the payment will be with you in 5 working days, please allow 10 working days if the payment is being issued via cheque.”
Few key things. A: this isn’t actually official yet, hence the lady being slightly confused and wanting to see where “i” found it. B: it’s retro-active. You pay as normal, and get £250 back, as i understand it. Probably together with the GCB.
edit: @Paul so you were the reason i was stuck in the queue. Pfft. 😛
Prior: SEAT Ateca Xcellence Lux 1.5 TSI DSG MY19, VW Golf GTE PHEV DSG MY23
Current: Hyundai Ioniq 6 Ultimate
Next: we'll see what's available in 2028.Oh, they said online payments for eligible cases are going out from today and should be completed by 18th Feb, cheques I’m not sure about but they will probably be a bit slower ?
I have just come off a long call to Motability who in the end confirmed this applies to me as I picked up my new car on 6th Jan, happy days, thanks very much for this post garry ??
Glad for you ??
This also means that it actually doesn’t really help struggling people, since the main problem usually is that they can’t afford a high AP in the first place. If someone can muster £1000 at the very best, they still can’t go for a high spec Focus at £1250 because they have to outlay the additional £250 first.
The implementation leaves something to be desired i’ll be honest, it’d make much more sense to just discount £250 off the AP.
Prior: SEAT Ateca Xcellence Lux 1.5 TSI DSG MY19, VW Golf GTE PHEV DSG MY23
Current: Hyundai Ioniq 6 Ultimate
Next: we'll see what's available in 2028.I am not due to change my car until March 2024, will I still get this payment? I haver been on the scheme since 2018. I can`t work out if the wording means the end pf 2022 is the deadline for new people of the scheme or for everyone.
The lady said to me that “as long as you receive your car in 2022, you should be eligible.”
As much as it sucks, as i understand it, in 2024 you wouldn’t qualify for it.
Prior: SEAT Ateca Xcellence Lux 1.5 TSI DSG MY19, VW Golf GTE PHEV DSG MY23
Current: Hyundai Ioniq 6 Ultimate
Next: we'll see what's available in 2028.Picked my new car up 16th December.Bugger!
This is nothing to do with helping us the customer it’s to help the scheme retain customers and to try and encourage us to renew instead of extend or leave
£250 is better than nothing
Wouldn’t it be much fairer to give a rebate to those currently on the scheme? Adler all they are the ones paying the money which generates the profits.
I see your point Wigwam but I think the ideal behind £250 for new customers is in line with the adverts on TV to drum up new customers and what could be better an advertising slogan “join Motability and get £250 welcoming bonus”.
Can you imagine the fallout on here should it only be new customers, hate to even think about it but at least for myself when I take delivery of a new car this year I can be a little bit happier at having the £250 plus £60 insurance rebate and the GCB because they more or less pays for my adaptions.
Whilst a ‘nice gesture’ and it will be an important extra £250, in addition to my GCB, as my maximum AP budget is always £1000.
but still against the backdrop and wider context of £559,000,000 profit (moreso in the current climate) makes me sick at such abject profiteering & yes I understand the 4 big banks / business modelling etc…. The bottom line is motsbility operations is more detached from its customer base than ever, especially those on very low income and / or UC etc….
typical my change date is march 2023.
Hopefully by then AP’s will have dropped back down and more choice will be available again?
I’m probably being dim, but what is the logic behind only giving it to people who renew in 2022? AP’s were starting to become excessive last year (if indeed that’s the reason – does it say that?) and the profits confirm that every single existing Motability customer is paying at least £1,000 per lease more than is needed to cover the scheme costs. Whilst I know that they won’t admit to that fact and hand back what we should be due, if there’s going to be a gesture, I fail to see what the logic is of now giving it only to those renewing this year.
There’s the potential of an extension with this.
I assume the thought process behind it is the steeply rising APs due to the shortage. Once the shortage is resolved, prices should come down again (i believe it when i see it, but the point still has to be made).
Things like the furlough scheme were extended too back then – but if you now announce that you’ll do it for 3 years, you run “the risk” that you’re throwing £250 at APs that have already calmed down.
If that makes sense. I certainly don’t agree with it, but i can understand the sentiment behind it. It’s a business, after all. I’d see and wait.
And in case of @mitch, if there’s anything wrong with your car that impedes your comfort, they’ll happily accommodate an early termination. If you do that in the beginning of december, and the car gets delivered after march 2023, there’s no financial repercussions to it for you either (otherwise you pay a £50 early cancellation fee, and a pro-rata reduced GCB which then is probably around £590 or something).
Prior: SEAT Ateca Xcellence Lux 1.5 TSI DSG MY19, VW Golf GTE PHEV DSG MY23
Current: Hyundai Ioniq 6 Ultimate
Next: we'll see what's available in 2028.
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