[kdwolf]

Hello All,

I consider if I shall leave Motability (within a month) and purchase outright a car which is not on the scheme, or to remain and go for the next vehicle. I appreciate the cars below may not be for everyone’s taste, but please, be kind and refer to my calculations rather than to my choices / my taste.

Assumption

• For the purpose of this discussion the inflation within the next 4 years will be 0 (zero)
• From April 2025 an annual enhanced mobility element will remain circa £4,007 per annum for the next 4 years.
• I have charging point at home
• The charging cost of £0.07 per kw makes consumption difference between the two options below insignificant.
• I have generally good experience with EV cars for a long time and terrible with Plug-in.
• I prefer to stick to EV, as for my driving style and distances it is the best option.

Motability

• I consider to go with Skoda Enyaq 85x SportLine (providing there still be one in stock) – what I saw will cost just below £3,000 (because of 21″ tyres).
• I cover 20,000 miles pa.
• I normally keep Motability car for 4 years

 

Alternative

• As you may know, Jaguar seized manufacturing their EV cars until 2026.
• My personal assumption – they will not survive the market (hence their price within 4 years period will significantly decline)
• They have brand new (pre-registered) I-Pace HSE models dropped from over £70,000 they used to charge + extras to £40,000 with 10 to 30 miles on the clock.
• This model, due to its door, is easier for me to get and out than Motability alternatives.
• Its driver seat is very comfortable and I can get into required sitting position with no pain.

Finance

My Mobility PIP £4,007 x 4 (years) = £16,028

Savings on deposit  £3,000
Paying for I-Pace – £40,000
Insurance for I-Pace (assumed same annual price for 4 years)  – £,1200 x 4 = -£4,800
Normally I have to replace all 4 tyres during the lease  -£350 x 4 = -£1,400

Total £16,028 + £3,000 – £40,000 -£4,800 -£1,400 = -£27,172

At the end of 4 years period I expect this car with 80,000 miles won’t fetch more than £12,000 top
TCO (total cost of ownership) -£27,172 + £12,000 = -£15,172

So I have a loss of -£15,172 vs loss of £19,028 with Motability (£3,000 deposit plus losing my monthly payments).

This sounds too good to me and I would like to have your opinions, please.

Thanks in advance.

Sent from a mobile device.
Apologies for briefness and spelling mistakes.

Motability Skoda Enyaq SportLine 85x April 2024 (unhappy customer - Ombudsman pending)
Motability Mazda CX-60 PHEV July 2023 (unhappy customer - early termination on mechanical grounds)
Motability VW Touran Family Pack May 2019 (happy customer)

Topic

[kdwolf]

on the spectrum wrote:

There is one thing that worries me whether you are going onto Motability or buying a car is the local dealer that ford and now Suzuki are culling there dealers for I think over 50 in UK, and if you do have problems like I had quite a few years ago I had 4 issues of taking it back to the dealer which was annoying but it was only 3 miles away.

Oh, I did. I had Mazda, assuming it is Japanese, hence very reliable. Eventually I went for early termination  with Motability. Mazda never took or returned the vehicle when dealt with the issues – I had to do it myself. I do agree Motability paid for the taxi when the car went for more than a day… But back to the point – nice and polite as they are, there is no proactive support (at least in my case).

Sent from a mobile device.
Apologies for briefness and spelling mistakes.

Motability Skoda Enyaq SportLine 85x April 2024 (unhappy customer - Ombudsman pending)
Motability Mazda CX-60 PHEV July 2023 (unhappy customer - early termination on mechanical grounds)
Motability VW Touran Family Pack May 2019 (happy customer)

[MFillingham]

Genesos wrote:

It does mean that as I am not receiving the £4000 tax free amount, (it is going to motability) that I would need to earn £5000 to replace the amount not received (20% tax payable). So it is very relevant to any UK income tax payer, and must not be missed in any calculations.

 

I can’t see where this comes from.  If you’re looking at opportunity costs of leasing then you’d need to increase your income but I’ve not seen anything relating to that.  If you’re buying you gain the £4K income, does that mean you count that as 5k extra earnings?

Your assumptions have seriously over simplified your calculations.  When I’m not out and about I’ll try to put together something more realistic as both your insurance and Motability payments will increase and not necessarily by an inflationary amount.

I'm Autistic, if I say something you find offensive, please let me know, I can guarantee it was unintentional.
I'll try to give my honest opinion but am always open to learning.

Mark

[Glos Guy]

@Mfillingham No need to worry about the £4,000 / £5,000 discussion. I explained a few posts back why that argument didn’t hold water.

[MFillingham]

Glos Guy wrote:

@Mfillingham No need to worry about the £4,000 / £5,000 discussion. I explained a few posts back why that argument didn’t hold water.

 

Ok, I’ll ignore that.

 

I’ve done some numbers based on 2% inflation and 4 % rise in insurance, which is pretty generous given the huge jumps some have seen recently.

Year 1                Year 2            Year 3         Year 4           Total
Motability               4,000.00          4,080.00      4,161.60      4,244.83        16,486.43
Advnced Payment 3,000.00                                                                                3,000.00
Total expense                                                                                                        19,486.43

Cost Price              40,000.00                                                                           40,000.00
Insurance                1,200.00         1,248.00      1,297.92       1,349.84         5,095.76
Servicing                                            200.00                                 200.00           400.00
Tyres                                                                                              1,500.00          1,500.00
MOT                                                                             60.00           65.00              125.00
47,120.76

Income
Sales Price –                                                                                 -12,000.00   -12,000.00
PIP Mobility  -7,000.00         -4,080.00        -4,161.60      -4,244.83      -19,486.43

Total income                                                                                                     -31,486.43

 

Total additional cost of purchasing own car                                              27,634.32

The total cost of a Motability car is the AP plus your mobility element.  When you include that cost as income, the remaining costs are over and above the cost of a Motability car.

 

However, money isn’t everything.  I don’t think anyone would consider this comparing like for like.  The iPace is a much better car than the Enyaq, although the price has been artificially reduced.  If Jaguar put these on the scheme at £40k that would work out somewhere around the £3-4k mark which is incredible for such a car.  But that’s a different discussion completely. You are also ignoring the cost of driving, which is unknown but may well differ if they run at different efficiencies.  From what I’ve heard from iPace owners when charging, they get less per charge than the Enyaq by around 50 miles per summer fill on a run. The Jaguar is significantly heavier, so this does seem to make sense.

 

It might be interesting to see what a like for like comparison comes out at but in this case, you’re paying an additional £27k for the privilege of owning a Jag for 4 years.  You’re also owning the risk of a 4 year old 80k mile Jaguar being worth much less that £12k whereas Motability have that risk at the time of purchase.

I'm Autistic, if I say something you find offensive, please let me know, I can guarantee it was unintentional.
I'll try to give my honest opinion but am always open to learning.

Mark

[Al3xT]

Actually I bought a new I-Pace three years ago so happy to answer any questions.

 

You may wish to update your calcs with the following:

Extended warranty. UK cars come with 3 year warranty. Extended JLR warranty with Jaguar Assistance is absolutely must have. It used to be £700 last year but it’s about £1000 per year now. https://jaguar.motor-admin.com/warranty/vehicle-details-1

Vehicle subscriptions will expire in year three (online sat nav, data, security tracker). It costs about £280 per year I think.

Second year service is about £300, 4 year service is in the region of £700 as it involves replacing the brake hoses.

 

Probably it is the best value for money out there at the moment. There are some annoying design issues (intelligent wing mirror heating, no rear wipers, passenger side mirror is not auto-dim etc) still it is a very nice car. Great drive, comfortable ride, spacious cabin, ridiculously fast.

However it’s fairly outdated in terms EV technology. Very inefficient, low motorway range, very slow “rapid” charging. I’m thinking of voluntary terminating my PCP and either buy pre-reg one or buy back my own for peanuts.

[Author]

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