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The one big question mark around private leasing/PCP etc is that off whether or not we have spare cash if for example PIP were to be lost or reduced after a review. I am currently in the review stage so am holding off making any decisions until I know that my renewal is completed and how many years for. Of course as we know the other additional cost for some is adaptions which could add a considerable amount to the initial cost.
I managed to get an early termination. Looking at all of the upcoming changes, I’m not willing to put up with them. I’m very lucky in that my credit is now pretty good after my bankruptcy fell off last month. With this in mind, I thought that it would be daft to keep paying £80 a week for a car I will never own. After a lot of number crunching I’ve made the decision to buy a brand new Suzuki Swift on hire purchase over 4 years. I think I could have done 5 years if I’d wanted to. I chose the Suzuki as they’re offering 0% finance with nothing down. I believe it was easier to get a loan from their finance as it’s tied to the car – they own it until the last payment is made. I had options for a personal unsecured loan but the best rate was 6% and I thought there was probably a lower chance of acceptance. The salesman said that the finance company are more concerned with knowing where you live than income. I am retired and wasn’t asked to provide any evidence of income. Fill the form in and accepted minutes later. Obviously I wouldn’t have gone this route unless I felt able to pay. Actual figures (car £19,999 plus £750 paint = £20,749 minus VED at £365 and £600 discount via Carwow so a true cost of £19,784) are: Car payment monthly £412.16, deduct monthly mobility £346.66 so actual extra monthly cost is £65.50. Car tax (VED) is free so had that taken off the new car invoice. Car service plan monthly for 4 years (excluding MOT costs) is £23.61 Car Insurance around £300 so monthly is £25 Overall total additional cost to eventually own the car works out to a monthly figure of £114.11. I will do approx 34k in 4 years so will probably need some tyres but even if I put an additional £5 a month away for this I should be fine. I live in a housing association 1 bed bungalow so my outgoings aren’t massive so I can afford this. It’s nice thinking that after 4 years I will own an asset that should be worth upwards of £10k. I looked at second hand, demo’s and pre-reg but the 0% was on new cars and others were around 8.9% so it didn’t really make sense to follow that path. I’m content with my choice. The process was simple. If I had been unsuccessful with my finance application I would have reverted to Plan B, getting a much older and cheaper car for cash. Just thought this was worth putting out there in case it’s helpful for anyone else considering leaving.
Not being rude but how the hell did you get finance without a credit check finding out you was bankrupt so soon as most people with bad credit history or retired find it very hard to get any finance and Experian credit ref agency I was told for a lease car you need well over 800 points and most people where I live only score in the 500-700 score so quite amazed you got this but good luck to you.
The points score in anyones credit score is just something to give a high level indicator to the user, in a lot of ways its irrelevant. Any credit company will be looking at a combination of factors in your credit report they will not be aware of or be interested in your score. In the case of lease cars or for example HP it is not an unsecured loan because the car does not belong to the registered keeper until the last payment is made or indeed in the case of lease hire it never belongs to the driver, so risk is lower than for example a bank loan.
Sound plan and I am just waiting for PIP renewal to complete before deciding to go the same route
You could be waiting a long time, a story recently of a girl who was getting reviewed, they give her an award for 2 years, it took them 18 months to do the review, 2 days after she received the letter she got a letter and a form for another review. It is taking them a long time to do reviews in N.Ireland.
Tell me about it, but hoping it will not be to much longer. I cant risk taking a credit agreement without knowing I have the money to pay it in place 🙁
Its a shame really because the car we were looking at has stayed at the same low advance payment, unfortunately ‘Drive Smart’ is driving us away (excuse the pun!), I think Drive Smart will ultimately be mandatory for every driver regardless of age or when the lease was first taken BUT absolutely hope I am wrong!! The reasoning for us is there are to many unknowns with Drive Smart, along with the weird tracking of any driver, time spent driving without a break and total journeys each day.
We are leaving the scheme because of this, current lease ends in June. I have a very sad disabled young adult who is really struggling with the thought that he is going to lose his independence. One positive is that he will have money to use taxis although that in itself causes huge anxiety.
Sad day but with the solution MB have chosen to use, its to random and causing to much stress to stay.
Ultimately once our PIP review has completed in a years time (probably much longer) we may consider buying a car in some way.
Still on topic if not completely. Does this news mean that Drive Smart is being introduced for all new members to the scheme regardless of age? Its a confusing article because the first section seems to indicate this, but then it goes on to talk about under 30s
The Equality Act 2010 made it an offence to discriminate against someone for being disabled. Any other person who leases a car privately is not forced to have a black box. Yet a disabled person leasing a car is now obliged to. Sounds like discrimination to me.
I think the black box is nothing to do with being disabled, its more linked to age and demands of the insurance company. But dont get me wrong, this affects me and I am not happy about it!! 🙁
The only problem with personal lease is to get lower monthly payments and affordable maintenance, you have to put down a large amount depending on car of course and still have to pay your own insurance on top. Also depending on lease company they may not be so obliging on minor damage on paintwork due to wheelchair scratching.
Yes I found the same, by the time I made the upfront payment around a similar figure to MB, upped the mileage from 5000 (which the cheap quotes use to make it look more attractive) to 10,000, added breakdown cover, added servicing, added tyres and then insurance it was a huge amount more than the Higher Rate Mobility figure. Only option might be to lease a used car but even then the figures are very similar rather than cheaper than Motability.
Sorry @TomThumb but information seems to all point to, new drivers getting a driving ban within the first 2 years. Having to reapply for a provisional licence and retaking both the theory and practical test. All remaining points and endorsements will stay on the new licence. I wish you both the best of luck, whatever the outcome may be. Reapply for your driving licence if you’ve been disqualified – GOV.UK
Its such a hard law for any young person to deal with and we as parents can only support (rather than judge) them to move forwards. The only thing I cannot see is whether she had held her licence for more than two years at the time of the incident (It may be somewhere in the thread)
@swwchris As the OP is the sole driver, it won’t make any difference. If his wife was able to drive and he was just a named driver it would be a little less straightforward but, as his wife cannot drive then it’s imperative that he can drive the car safely.
Excellent was just in case it would be a problem and if so to ensure the cancellation request was framed correctly. Hopefully your confirmation will help get it cancelled and changed quickly
Given the circumstances, Motability will most likely grant an early termination. You will have to pay a £250 fee and won’t get any good condition bonus, however you will get a pro rata refund of your advance payment (but not any optional extras that you may have added) which you could use towards a replacement car. Advance payments are very high these days, but will only get worse from July once the government imposes VAT on advance payments and insurance premium tax on Motability customers, plus lease terms are likely to become less attractive (lower mileage limits etc), so it might be better to bite the bullet now if you can and get ahead of the adverse changes.
Will this apply where it is a named driver with the problem rather than Motability Customer? Mention purely to help ensure the termination request goes well.
Yikes! Easy with the shouting. I always use the brake pedal, for extra control. Although it has to be said that the emergency braking system in my car once responded fractionally quicker than I did, and the brake pedal was already depressed when I got to it. Even when the car is slowing itself ‘cos I’m decelerating e.g. for a junction, my foot is hovering over the pedal to apply more pressure when it’s needed. The question was whether the lights come on, nobody mentioned relying on the system for normal braking.
Yes I was also confused by where that reply came from 🙂
Never had a problem my local Toyota dealer replaces free of charge and free coffee and two biscuits
Just two biscuits NOT good enough should be a min of four chocolate digestives!!!
We just generally replace them ourselves when they need it, £25 over three years works ok for us (of course I understand MB should be paying)
i think as its an additional driver added to the policy rather than being the main policy holder its different as they may consider the young driver is being supervised rather than being in sole control of the car.
Possible reason but not what the Ts&Cs on MB website say, if the under 25 had actually been added I would feel that its possible for these reasons. Time will tell I guess. Of course any customer with an under 30 driver has to have Drive Smart (for ALL drivers) which will put people off adding younger drivers🤣
I would not get to excited, it sounds as though @kdwolf was checking how to add an under 25 to their drivers and suspect the issue of the car not being classified as for under 25s will have blocked it at some point. Don’t get me wrong, this would be a wonderful change which with the addition of ‘Drive Smart’ makes sense, and I would love to be proved wrong. Fingers crossed🤞 The website today is still very clear about what cars can be driven by an under 25
I see the “badge bunnies” are still moaning they can’t have their shiny new Beeeema on their driveway to rub their neighbours noses in it Of course they are putting together a task force, as the main complaint from tte press, Parliament and general public is “abuse of the scheme”. This task force will solve two issues 1) catch any abusers 2) show the lack of abuse hopefully
I feel a mixture of sadness and pity relating to the first sentence, its a sweeping statement to accuse Motability Customers with a BMW to be in your words ‘rubbing their neighbor’s noses in it’ (what a horrible expression to use!) but equally you are right about what the ‘Task Force’ might achieve. By the way I don’t have a BMW but 100% respect any Motability customers who do.
Personally I have no interest in how much Mobility Operation earn or their staff perks, I am only interested in the bottom line how much to lease a vehicle, at least we still have a scheme to enable disabled people to obtain a reasonable price leased vehicle. On the plus side the scheme provides hassle free insurance, no credit check or lease/credit agreement with hidden small print.
Could not agree more
Is it me who is getting mixed up but is the 31st of May not already 1 month into 2nd quarter.
I was thinking the same – Jan, April, July, October (I think!)
