November 26, 2019 at 7:22 pm #97601
someone told me they just got their new vw tiguane the other day and said it was a minimum lease 4 year not 3 year minimum lease,
i didnt now that is that true
November 26, 2019 at 7:52 pm #97604
Haven’t heard of this.November 26, 2019 at 8:01 pm #97605
News to meNovember 26, 2019 at 9:09 pm #97607
the website says this still.
Our standard lease is over three years, or five years if you are leasing a Wheelchair Accessible Vehicle and we take care of running costs such as insurance for up to three named drivers (this doesn’t have to be you), servicing, maintenance, breakdown cover and tyre and windscreen repair and replacement. All you need to do is add fuel and go.November 26, 2019 at 9:27 pm #97609
If they did bring in a four or even five year lease AP’s should drop and they could increase the price cap.November 26, 2019 at 9:59 pm #97611
I think it’s BS would motability introduce a change as fundamental as this without telling us.
The only person who got all his work done by Friday was Robinson CrusoeNovember 27, 2019 at 1:09 am #97620
Picked up mine today 3 yr contractNovember 27, 2019 at 2:08 am #97624
Telling pork pies, just ordered new car and got the paperwork through, it’s a 3 year lease.November 27, 2019 at 7:08 am #97637
Probably said a 4 year as they have decided to maybe keep it for 4 years rather than 3?November 27, 2019 at 7:23 am #97638
RubbishNovember 27, 2019 at 10:06 am #97645
Given the delays in VW deliveries I’d believe 4 years from point of order….lolNovember 27, 2019 at 10:16 am #97647
I doubt the car manufacturers would like Motability moving to 4 years leases as this would affect the number of cars they sell. The manufacturers would most probably raise their prices and Motability would get less for 4 year car at the end of the lease. If Motability did move to a 4 year lease wouldn’t they expose themselves to higher cost in the 4th year, the car may well be out of manufactures guarantee. It would be interesting to see Motability’s financial models for 3 and 4 year leases, if they do have a 4 year lease model.
I pick up our new 3 year lease car up in three weeks !!!!!!November 27, 2019 at 10:53 am #97650
Make no mistake the scheme is going to have to change ? This is going to happen sooner rather later !November 27, 2019 at 1:11 pm #97659
The manufacturers would go bust if the leasing industry in general were to move from a three year cycle to four years.
Motability would have to totally restructure it’s financing, as it is currently based on money recouped from the optimum three year resale date.
In my opinion a blanket change from three to four years would be a disaster for all concerned.November 27, 2019 at 2:20 pm #97664
I agree with pops, and I’m sure I read an artical a couple of years back by Mr Betts stating with a lot of the manufacturers now offering 5 to 7 warranty it is something their strategic team has thought about, but the outcome was the “sweetspot” remains 3 years, motability already allow 4th and 5th year extension, but they are able to do this by still charging the full weekly amount to cover the lose in residual and the £1000 buffer on the vehicles is there to fall back on. I think at present a standard 4 year would result in higher AP (but if it appeases the haters and Motability makes less profit, that might be the point)
Some PCP leases do offer 4 years to make it look cheaper but overall with the deposits and final payment they recover any loses.November 27, 2019 at 2:33 pm #97666
a mountain of MOTs?
Not a chance.November 27, 2019 at 2:47 pm #97670
Roughly 11 Million each year for the extra Mot’sNovember 27, 2019 at 3:02 pm #97672
wmcforumWhich Mobility Car
The Consultation in 2017 to raise the first MOT date to four years concluded in keeping at the three year point for road safety issues.
If the 4 year point would have come into force it would have forced manufacturers into offering minimum 4 year warranty, private buyers and fleets would have held onto cars for an extra year, same thing for Motability I suspect.December 3, 2019 at 7:28 pm #98490
It was probably just a typo. An awful lot gets put out without being properly checked these days. You only have to read the tick-a-tape strip that scrolls across news programs and things to see it!December 4, 2019 at 1:22 pm #98574
A lot of people are now extending their Motability lease beyond the 3 years, so I don’t think they have a problem with 4 year leases.December 4, 2019 at 1:29 pm #98575
I don’t think extending the lease is a given Elliott, there are a few criteria to be met.
The only person who got all his work done by Friday was Robinson CrusoeDecember 4, 2019 at 4:45 pm #98589
They are happy though to allow 80k miles over 4 years.December 4, 2019 at 9:23 pm #98611
Just extended our lease for another 2 years until 2022. They said just make sure the MOT is carried out yearly. All done over the phone asked a few questions about mileage etc, I also mentioned that I had also paid an high AP and there was nothing yet on the scheme suitable. She did point out the fact that after 2022 the car had to be returned.December 5, 2019 at 12:48 pm #98663
There is no such thing as a four year lease on the Motability scheme. All Motability car leases are three years in duration, though many users are able to extend the lease for up to two years more. Motability wheelchair accessible vehicle leases are five years for new vehicles and three years for Nearly New examples again with the option to extend for up to two years. Longer leases do not necessarily equate to lower advance payments due to increased depreciation and maintenance costs, which often are not fully covered by the additional income generated by the longer time period.December 5, 2019 at 8:01 pm #98715
On private leases the deals are usually better over 4 years rather than 3 both in terms of AP and rental per month.
Depends on the vehicle. A Dacia is almost worthless after 4 years whereas an Audi / BMW / VW etc will still have a good residual value.
To make it work the scheme would need better cars than most currently on it.
Maybe the 4 year lease would only be offered on certain cars.