Is it worth extending lease, with these crazy prices right now

This topic contains 10 replies, has 6 voices, and was last updated by  Susan 1 month, 1 week ago.

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  • #117502 Reply

    Adam

    I just received my letter to go and get a new car for October.

     

    However the bottom of the letter states that if I do not place an order, then theyll extend my current lease automatically for an extra 6 months.

     

    I was thinking about getting the CLA premium which was 2949 and now its 3,600, which I find ridiculous.

     

    I’m genuinely thinking about not ordering and just letting my lease extend for 6 months, and ordering at the start of next year as Q4 prices may go down. As a worst case I cant imagine them going up even more, so I’ll either be paying the same as I would now, or maybe less and get my car next April rather than this October.

Viewing 10 replies - 1 through 10 (of 10 total)
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  • #117589 Reply

    Bandit
    Participant

    Certainly something to consider.

    #117591 Reply

    simpleman

    I will definitely be extending my lease as there is nothing on the scheme to match my present car.  Im due for a change this October.

     

    #117592 Reply

    Zoe

    Just out of interest if you extend you lease by 2 years can you still but the car at the end of the 5 years, where it would usually be 3?

    #117594 Reply

    BigDave
    Participant

    Just out of interest if you extend you lease by 2 years can you still but the car at the end of the 5 years, where it would usually be 3?

    Yes, you can still buy the car at the end of the 5 year extended lease.

    #117598 Reply

    mitch
    Participant

    if your current car suits your needs it may well be worth extending for the 2 years and waiting.

    if something then appears at a great price you can change at anytime during that 2 year period.

    thats my plan next time, ive just taken delivery of a countryman and it suits me fine, i dont do huge miles and the car is great so unless something suitable electric comes up close to 0 ap in 3 years time i will be extending and wait for something special.

    #117604 Reply

    BigDave
    Participant

    Don’t forget Mitch, it makes even better financial sense to extend the lease for those on WPMS as you get (currently) £7.25 per week returned to you from Motability for the duration of the extended lease.

    If you save it up over the 2-year extension it is amounts to £754, plus the 5yr GCB of £900 would certainly put a nice dent in the AP of your next vehicle!

    Dave

    #117605 Reply

    mitch
    Participant

    i had forgotten about that bigdave, when i extended my first motability car when i eventually swapped i got an extra chq and had to ring them to find out what it was for. and thats what it was. so the new car didnt cost me anything as i got the refund,gcb and the grant.

    #117611 Reply

    Logiejames
    Participant

    I rang up and extended mine this morning, it was due for renewal August 22nd, but (a) the prices are crazy and (b) there isn’t anything available I’d want to change too anyway. Had that Soul Ev been legit I was tempted, but it is a lie ;_; …

    The lovely gentleman on the phone at Motability was extremely helpful and said it was no problem extending it by 2 years and I’m still free to change at any point within said 2 years if I find a suitable replacement.

    Amused me slightly that the phone system had many recorded apologies about long waits, and the man I spoke to also apologised profusely for the ‘long wait’ even though it was barely 10 minutes and thus was nothing.

    #117615 Reply

    rox
    Participant

    Naw i’d change it as if you get pip or dla you paying the same amount for a 3 year old cars as you would be a new car, Unless there’s nothing for you affordable or the ap is to high and you cannot get help with a grant.

    but i personally would’nt  go with the cla. just on the ap alone i cannot justify it..

    There’s nothing to say Ap prices won’t be higher in 2 years time.. or it will be on the scheme.

    CLA premium which was 2949 and now its 3,600 is crazy

    I bet it has no adaptive cruise as standard it’s part of a driving pack at another 1k+

    I Just paid £1399 for the honda civic sport, Pretty awesome to drive. I do like the cla but the ap is just to high for me even to consider it.

    if i did spend such a high ap on a leased car, i would extend my deal and maybe consider buying it after 3 years.

    as mitch says you could extend and as soon as you see a good dealer discount deal and pounce on it.

    Often something has to give to get what you need and for me the last 2 cars have been lower 1st 2 on scheme was higher but as i have long legs some higher ones are just as bad for me to get into as well.

    so it is one thing worth seeing if you can compromise on.. Plus the missus would go mad as we could all go on a holiday with the difference, So that i have to consider as well..

     

    #117630 Reply

    Susan

    We were going to extend our lease but if we do we cannot take advantage of the free transfer of our powered person hoist to the next car as it must be done at the end of the first 3 year lease that it’s fitted. Current price on a new one is £699 so makes more sense to swap the car now. The price on the lift keeps increasing as well. 3 years ago we paid about £300 for it.

Viewing 10 replies - 1 through 10 (of 10 total)
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