Buying after 3 years

This topic contains 50 replies, has 10 voices, and was last updated by  vinalspin 6 days, 6 hours ago.

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  • #30548 Reply

    Justsaying

    anyone please with view to buying vehicle at end of term. Do they like personal lease cars have a guaranteed value/purchase price already set or do they value individual vehicle at end of term? Or is it trade price they would offer to dealership or other

     

Viewing 25 replies - 26 through 50 (of 50 total)
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  • #64368 Reply

    Brydo

    JoH that should have said not job lol.

    #64372 Reply

    Rapster
    Participant

    Not really surprised that idea didn’t get any traction, @brydo.

    #64712 Reply

    keith newton

    This is not true motability allow you to buy your car at the end of the lease or when you loos your allowance.

    They no long offer HP financing using your allowance you have to finance the purchase yourself

    I have checked this with motability. They have assured me they will never stop giving you the option to purchase.

    #64714 Reply

    Trev
    Moderator

    You are correct Keith.

    This thread was started over a year ago and i think that’s where some confusion may have arised from earlier responses.

    #64716 Reply

    Brydo

    Rapster I am always interested in peoples views so why do you think my idea got little support?

    #64784 Reply

    Rapster
    Participant

    Hey @brydo. 👋

    My position is, that the receiver of the DLA/PIP award who then goes on to swap the HRMC/ERM part for a Motability vehicle is the one who is entitled to the vehicle.

    The partner of the receiver (assuming they are not entitled to DLA/PIP) is therefore not entitled to a Motability vehicle in their own right.

    If partner of the receiver was entitled to DLA (HRMC)/PIP (ERM) then they could apply for Mota in their own right.

     

    I know it sounds cold (even to me 😉) but the Mota charity was set up to help the disabled, not their partners, kin, children, etc. and so as soon as the receiver departs this beautiful World the car should be handed back.

    I imagine others thought along those lines, that it was the receiver that was entitled to the Mota vehicle and not the receiver’s partner?

     

    P.S. I wrote a wonderful post in reply to your comments over on ‘How close are you to an ev charger?’ but it was eaten by the forum gods and never showed. It was a mixture of olive branch (that we disagree on some things), a little bit telling you that it was healthy discussion from my side and there was no malice intended whatsoever and then I wrote why you were wrong…with bullet points and everything. 😂 I was a bit sick that it disappeared and couldn’t remember what I wrote so left it at that. Anyhow, it was basically telling you that although I don’t agree with you on some subjects I don’t mean you any ill-will whatsoever, quite the opposite in fact: I respect people who stick to their convictions. 🙂

    #64807 Reply

    boomarang
    Participant

    Simplman

    I agree the best thing is to shop around

    Shop around is the only way to get a competitive quote and then you have to do that with zero NCD

    ALL Named drivers will loose their past accrued NCD once they have only driven Mobility lease cars for over 3yrs

    If anyone disagrees and thinks otherwise then please list the names of those insurance companies  that will take into consideration accrued mobility NCD  and will also give a competitive quote.

    It would be appreciated.

     

    #64809 Reply

    Rapster
    Participant

    Well, Motability themselves point you in the direction of Autonet, an insurance broker, where apparently your clean driving record will be taken into account.

    Taken from here:

    https://www.motability.co.uk/about-the-scheme/personal-independence-payment/unsuccessful-reassessment/

    #64811 Reply

    James Mckernon

    I have been allowed to keep my car for an extra two years.will I get a good deal at the end of five years,if I wish to buy my car?

    #64812 Reply

    Macca

    Swift Cover have always been happy to allow a no claims discount on production of a letter from RSA confirming your driving record, whilst on the motability scheme. I took advantage of that in 2012 when we my wife had to come off the scheme whilst we battled dwp.

    #64817 Reply

    JS (justsaying)
    Moderator

    James you can ask to buy the vehicle at anytime after the 3 years, they will give you a price, but unlike pcp contracts the price is not set at the start so the amount can change, out of interest on our last car I ask for a price and found it too high, in fact it was 500-800 more than A1 condition book price, at the end of five years the good condition bonus is £800 I would advise getting the price then trying to get the 800 taken off that.

    #64944 Reply

    ironica

    Motability are reluctant to allow a service to your vehicle at year 3 unless it fails its MOT.  Factor that into the price too

    #65097 Reply

    gilders
    Participant

    I have lost my entitlement to Motability after being transferred from DLA to PIP. Motability have offered my car to be purchased for £14,850. It’s a VW Golf GT 150 ACT DSG on a 16 plate, with a little over 20,000 mileage. The cheapest price I could find for my model car (same age) on Autotrader is £16,000. So in my case, Motability have offered me the car at a good price. Knowing the full history of the car also adds a lot of value.

    The only thing I’m unhappy about (as well as losing my Motability entitlement) is the fact that I will have had the car for just over 3 years, kept it in perfect condition, but I’m not entitled to the £500 good condition bonus.

    I now need to make the decision whether to buy the car in January with £2,000 transitional payment deducted, or wait until May and get £500 transitional payment deducted. Or look for another vehicle.

    #65158 Reply

    Rapster
    Participant

    I suppose it depends on whether you can get the money together by January. Personally, I would prefer to buy in January with the maximum £2,000 deduction.

    As for the Good Condition Bonus, I dunno, at least you get something from Motability when in reality they didn’t have to offer us anything at all. ¯\_(ツ)_/¯

    Maybe that’s an additional option? Hand the car back, get the £2,000 and then you’d also be eligible for the £250 Hand back to Dealer bonus and put that towards your insurance?

    #65179 Reply

    gilders
    Participant

    Hi Rapster. You’re correct in the fact that waiting until May, rather than January, gives me a an extra few months to save, but there is the following financial benefits of waiting until May –

    4 months insurance (worth about £200)

    M.O.T. (worth about £40) Plus the cost of any repairs to get it through £??

    Any replacement tyres, wiper blades, etc £??

    The revised option to buy price in May £??

    It also gives me a few months to decide what to do. For example I’ve been offered a brand new SEAT Leon FR DSG (pretty much the equivalent of my current Golf, minus adaptive cruise control), for £18,604. A brand new car for £3,754 more than a 3 year old one, just out of warranty, is very tempting.

    So long as nothing expensive occurs at the M.O.T., taking £2,000 in January, probably would be best choice.

    You’re also correct in stating, in regard to the transitional payment, that Motability didn’t have to give us anything and I am grateful for that package. It’s just that by forfeiting £1,500  for an extra 4 months, it feels like it’s costing me more per month (£325) compared to a “regular” customer (£259), I’ll have had the car for over 3 years and yet I don’t get the good condition bonus (now £500, I believe). If I’d had the car for less than 3 years, even just a day, then I’d not expect the good condition bonus.

    #65229 Reply

    Rapster
    Participant

    Yeah, it’s a tricky one…

    That’s a good price for the SEAT Leon. I think, given your position, I might well be tempted by that offer.

    You have to stop thinking of it as losing money per month as it’s money or car you wouldn’t have in the first place. Before PIP, if you lost entitlement then you lost the vehicle immediately. The same will happen for anybody who loses PIP on reapplication after the DLA-PIP period. So, you’re in effect getting the vehicle for nothing for a few months and then you will also get £500 (trans. protection) + £250 (return to dealer). Thinking that you’re somehow being ripped off isn’t really the reality. Hence the shrug…

    Also, I’m not sure how it actually works, because you’re no longer entitled to the car could mean that the car should now probably have the VAT applied to the lease cost. Dunno…

    You know what, thinking about your situation whilst writing this, I think I’d do what you suggested; keep the car for the few months, hand back and take the £750 and take a deal like the SEAT Leon one. That actually makes sense and would give you a few years of warranty backup if stuff were to go wrong.

    #65249 Reply

    gilders
    Participant

    Hi Rapster. There is no mention of a £250 return to dealer payment on the paperwork Motability sent me. I’ve been on the scheme for over 12 years and had the good condition bonus (now £500) each time, but have never heard of the return to dealer payment. Could you post a link to some details of this payment so that I can see if I am entitled to it?

    #65251 Reply

    ChrisK
    Participant

    Hi gilders

    Be wary of the insurance company that Motability recommend (Autonet) because when I bought my Motability car (no brainer for me because it had adaptions) at the beginning of the year their quote was £850 for Golf TSi 1.4 and I paid £370 fully comp in the end using the “good driver” note that RSA give you.

    The insurance I had was with LV and went for them after using a run of the mill comparison site (there were ones that were even cheaper) but had to phone before pressing the accept button to check they would accept the good driver notice for which they said was no problem.

    #65256 Reply

    gilders
    Participant

    Thanks Chris. I got a quote from Autonet which wasn’t too bad, £600.

    I did a comparison an Confused.com and when I entered details as though I still had my No Claims, the best price was £381 from LV. So I’m really pleased you’ve replied as at least I now know that my best price quote which is from LV, accept Motability/RSA proof.

    #65258 Reply

    vinalspin
    Participant

    Quick question, the “good condition bonus” is now £500, does that only apply to new contracts or to vehicles handed back from now on? (due to change Feb 2020).

    #65260 Reply

    Trev
    Moderator

    Hiya vinalspin and welcome to the forum.

    The £500 GCB applies to all vehicle now being handed back at the end of their 3 year lease. Thus will apply to you, unless you have had your car for 5 years where it rises to £800.

    #65262 Reply

    ChrisK
    Participant

    HI gilders

    Oddly enough LV never ever asked to see the good driver note so I assume it must be on their data bases.

    #65266 Reply

    gilders
    Participant

    From what I understand, insurance companies don’t ask for proof of various things when you purchase the policy. They’re on to a no-loss situation because if you subsequently make a claim and don’t have proof, they still keep your initial payment, but won’t pay out.

    Prior to being a Motability customer, I had insurance in my own name for over 10 years without making a claim. I was only asked for proof of No Claims twice. But I’m sure if I’d of made a claim, they would be asking for proof.

    #65267 Reply

    JS (justsaying)
    Moderator

    Welcome Vinalspin

    As Trev states you will be eligible, apart from encouraging people to look after the vehicle it’s also a great way to be able to budget and maybe upgrade to a more suitable vehicle that before hand may of been out of reach, at present on average Forum members have received the payment after 3 days upon returning vehicle.

    To confirm All full term end of lease vehicles are eligible for the GCB returned from 20th September 2018 as follows.

    3+years = £500

    4+years = £600

    5+years = £800

    6+years = £1000

    #65282 Reply

    vinalspin
    Participant

    Thanks Trev & JS, I suppose I will need to calm down the driving it like I stole it just a smidge then! 😉

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