- This topic has 14 replies, 4 voices, and was last updated 1 week, 2 days ago by .
Gonna be calling Motability tomorrow about terminating my lease early.
I’ve placed an order today and paid a small deposit for the new car, should arrive in 3 to 4 weeks. Which is great considering current wait times many are experiencing. Which should be just before 2 years of the current lease is up on 21st of june i think maybe 22nd.
I wonder when would be the best time to hand it back and collect the new car, the dealer i buying from will take the car back on the day for mb, finance has been approved.
Obviously if it before it’s into the last year of the lease, i’ll get 1/3 of the ap i paid back on the current car plus 1 years gcb but is there a way to give it back on exactly 2 years and get 1/3 ap back and 2 years gcb.
It does say on mb site a fee of upto £250 for terminating early, but Mb are gonna do well out of the car as it’s done less than 10k in 2 years, no where near the 40k allowance and the values of used cars have increased since the car was bought, which is another reason to leave the scheme imo. Have heard some people only been charged £50 for a 1st termination, but is that if they getting another car on the scheme.
It’s just to good a deal to turn down at % apr on hp so it will cost more overall, but i will own it and plan to keep it for quite a while as only doing 5k miles a year right now, so in 5 years I would of only done 25k.
Taking into account current ap’s on many cars and the lack of cars currently on the scheme seems the right thing to do for me. Plus i don’t see it getting better anytime soon and is something I’ve had my eye on for a while with rising prices and inflated ap’s and the allowance we get not keeping up, adding an ap you pay to the allowance and it’s not much more really.
The scheme been great and has many positives, but i just don’t see it being as benfical for me moving forward as before. So i have made my move.
If anyone has done this terminated their contract and left the scheme early any info/feedback would be appreciated.
I have been on the scheme for over a decade now, not had a claim in that time either or got another car early. So not sure what the procedure is regarding giving back the car and putting the free road tax on the new car.
Regarding insurance had quotes already but did hear some mention lv accept an rsa letter, of your claims history, but even without that it’s affordable considering my age / mileage etc…