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Polestar costs are about £45k and a 4-6k deposit, and around 500pcm. I’m happy to pay that for a car i’ll own and no real running costs
The Polestar2 price starts from £49,900 so you may need to adjust the figures or increase your deposit.
If you are paying 45k for a car and putting 5k as a deposit and borrowing 40k, at 6.7% APR over 8 years it would cost you £535.98 per month.
The Dacia looked like a possibility until I realised that it is a manual car and I can no longer manage a manual car.
Yeah saw that after posting. Might be added in the future with different engine options though.
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.@vinalspin They is not bad those c4 grand Picasso, had one on the scheme but don’t need anything so big now. Plus they have 3 full sized seats in the back, great for kids car seats. Diesel’s out for me as the dpf became an issue, as i’m just not doing the miles i used to.
@crippleddad Yep that’s deffo another reason why some are not happy with the scheme and the huge profits, the banks that operate the scheme are sitting on.. Many feel they being taken advantage of and they offer a £200 new car bonus when some have gone up 6 times in ApPaying such high ap’s makes it more viable to leave the scheme imo. Especally as many ev’s won’t be on the scheme or affordable for many, unless big changes happen. which i just don’t see happening.
Like i said i had a bad credit, but i don’t now. So it opens options, if you do then getting something like sue suggests a little run around depends on what you can afford, and could allow you to build up a little fund from your allowance. I don’t have a bank of mum or dad so that’s not an option, but I’ve learnt how to play the game regarding credit.
I try to utilise 0% credit and that builds my credit rating up, 1st I got an argos card and made sure i payed it off before the term ends on anything i bought from 3/12 months.
Then i applied for a 30 month 0% credit card which i used to pay for some of our wedding and paid that back in the 30 months. I then applied for another 0% card to do the honeymoon on and no joke i got a 6.5k limit, but i only used it for stuff i knew i had the money for and so i could budget better over that period of time. when buying cars on finance one needs to becareful, for instance right now a vitara is 0% but the swift is 7.4% some used car companies do crazy apr’s especially if you got a bad history.
Also you can get the top spec swift for slightly cheaper than the spec lower as they giving you a 2k fda on the sz5.
Not having a driveway limits us getting an ev, I do have some off road parking but only a small car can really fit on it.. but thats just to small for us. might go look at some new cars later this week or the begining of next week. That way i know what will work for me best and is within my budget.
@wmcforum
Unfortunately you can’t just do a calc on wage of £1,000, salary sacrifice reduces you wages for tax purposes.
The quote tool is open for anyone to use (google octopus ev) without putting your details in to get a quote based on your own wages. my situation, I unfortunately currently pay 40% tax on a small portion of my wage, if i went through the scheme i would not pay 40%.
Its not for everyone, but is an option, below is workings based on annual cost based on my earlier choices
Salary Sacrifice scheme:
Annual Cost £7872 (656 x 12)
PIP paid to me £3354 instead of used for motability
Net annual Cost £4518 (£7872 less 3354)
Motability (assuming keeping car for 4 years:
PIP Annual Value £3354
AP (1 years worth)£1725 assuming AP split over lease of vehicle
Total Motability cost £5079
Fully understand that Chris, I just wanted to stop you dashing off and joining the salary sacrifice scheme based on your previous calculations.
Polestar costs are about £45k and a 4-6k deposit, and around 500pcm. I’m happy to pay that for a car i’ll own and no real running costs
The Polestar2 price starts from £49,900 so you may need to adjust the figures or increase your deposit. If you are paying 45k for a car and putting 5k as a deposit and borrowing 40k, at 6.7% APR over 8 years it would cost you £535.98 per month.
Prices start from £40,900 for the standard range single motor up to £45900 for the long range dual motor
My apologies, I should have know better than to trust Google:
Weird when Polestar’s website shows almost 10k less lol.
Yes, on greater research I found out that on release the Polestar 2 in 2020 the entry price was £49 900 then in April last year (i think) they added a lower spec car, without pro pilot and other things that i don’t understand at the lower price. Google are slow to update their information, and i should always check with the manufacture web pages prior to posting.
Yes, on greater research I found out that on release the Polestar 2 in 2020 the entry price was £49 900 then in April last year (i think) they added a lower spec car, without pro pilot and other things that i don’t understand at the lower price. Google are slow to update their information, and i should always check with the manufacture web pages prior to posting.
One things for sure @wmc I would never pay close to £50k for a car even if I wanted to or in fact could afford to do so.
Be very carefull going down the pcp route, I have friends who have been stung really hard with condition on handing car back, at very inflated repair prices.its another way of making money out of you I soppose. They expect cars back as showroom condition. This reason alone is the reason I would alway stick with motability Over Pcp.true you might not get the exact spec car you would choose yourself everytime but some where near is to me better than friends handback anxiety ” little ding here, bad stone chip there”£400 please sir…..
Yeah saw that after posting. Might be added in the future with different engine options though.
Yeah shame really, it was really looking like a possibility although as with all cars that look possible, a potential advance payment would play a big part.
There are, or at least was, cars that were absolutely perfect and met the brief exactly, however their advance payments were way out of my league and so they had to be discounted from my list.
Yeah saw that after posting. Might be added in the future with different engine options though.
Yeah shame really, it was really looking like a possibility although as with all cars that look possible, a potential advance payment would play a big part. There are, or at least was, cars that were absolutely perfect and met the brief exactly, however their advance payments were way out of my league and so they had to be discounted from my list.
Push for a grant.
I think we talked about that, but with them admitting now that the scheme has big troubles at the moment now, might be worth another shot.
Doesn’t cost you anything, i’d certainly keep pushing 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.My wife is the one with the PIP, but I’ve ‘looked after’ the car side of things for the last 30 years.
Althouhg she has severe mobility issues, I have had mental health problems, and I know full well that the annual round of getting insurance renewals, servicing and MOTs would push me back to a state I don’t want to go back to. This is a benefit of the scheme that can’t be costed – the peace of mind of just having to put fuel into a car and driving it.
When it comes to renewal, choose the car and pay the money – no haggling, no tyre kicking.
The AP for us in our situation is well worth the lack of any hassle.
To assess lease costs, do a check on car wows leasing deals, don’t forget to add servicing, insurance, tyres and if diesel Ad blu to your monthly figures.
see if you can find a similar car compared to Mitabilities all in costs.
if looking at second hand, add again most add ins above plus a war chest to cover part failures which will happen
I think people are too defensive of Motability. Nobody is saying going privately will cost the same but what going private gives you is more choice and greater flexibility. As for the cost of tyres, I reckon most people on Motability never get through tyres due to low mileage. Insurance for a lot of people is less than £500 a year and dependant on manufacturer, service costs are inexpensive too. My eldest lad leases his car privately and as he’s under 25 he isn’t subject to the constraints that Motability would put on his choice.
So like I say, Motability suits some people perfectly but not everyone.
Up to about 6 months ago (perhaps a little longer), I would always see lease deals that were better value than Motability. Bear in mind these were DEALS that are often short lived. I never thought I’d return to Motability, it didn’t make financial sense, but I’m struggling to find decent lease deals at the moment.
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