With effect from 1st March 2023, Motability increased the New Vehicle Payment up to £750. The title may be confusing, leading to many believing it is only for new members of the scheme but we're pleased to say that it actually applies to both new to scheme customers AND renewals. This is great news especially with some already fantastic offerings on the Suzuki Motability range making your money go even further.
The increase has been launched with the aim of assisting Motability scheme members as everyday living costs continue to rise and has now been extended until the end of 2024.
Read on below as we provide you with all the essential details about the increased New Vehicle Payment and how it may benefit you.
The New Vehicle Payment is a one-off payment provided to Motability scheme members to be used towards the purchase of a new car (not to be confused with the Good Condition Payment which is money you get back at the end of your lease subject to you returning your car in good condition (the clue is in the title!).
This New Vehicle Payment was previously £250 but has been increased to £750. This enhanced payment is intended to help customers cope with the rising costs associated with new vehicles. By reinvesting funds into customer affordability, the Motability Scheme ensures that leases and Advance Payments remain as low as possible.
New Scheme Members
Providing you have been approved on the scheme and ordered your car before the end of 2024, you will quality for the New Vehicle Payment of £750.
Existing Scheme Members
Depending on when you ordered, you might already have had your New Vehicle Payment. If not, you’ll get it when you get your next car, whenever that may be.
You can choose which option suits you best and this may depend on the Advance Payment on your vehicle of choice...
Payment sent to dealer
Your New Vehicle Payment can be sent direct to the dealer to assist towards the cost of your Advance Payment. If the Advance Payment on the car you've chosen is more than £750, you'll be required to pay the difference. If it's less than £750, Motability will send the difference to you once you've taken delivery of your car.
Payment direct to you
If you choose to have the payment sent direct to you, this will be paid to you in full within a few weeks of taking delivery of your new vehicle.
What if my car is delayed?
Don't panic! As long as you have ordered your new car before the end of 2024, you will still be eligible for your New Vehicle Payment!
How will the New Vehicle Payment benefit me?
To demonstrate how the increased New Vehicle Payment can work in your favour, we've taken a look at the Suzuki S-Cross.
At the time of producing this article, you could opt for the top-of-the-range S-Cross Ultra ALLGRIP which comes with everything you need and more using your New Vehicle Payment, leaving just £749 for you to pay. Suzuki's ALLGRIP technology provides you with 4x4 driving capability keeping you safe on the road no matter what the weather or conditions, all year round. Even more essential if you need to attend hospital appointments etc.
The S-Cross Ultra features...
Plus all of these advanced safety features as standard...
The Motability New Vehicle Payment increase to £750 is fantastic news for anyone relying on the scheme for their mobility needs. It's a demonstration of Motability's dedication to providing essential support and making a positive impact on the lives of those it serves.
So, if you're a Motability leaseholder, get ready to embrace the exciting changes and enjoy the freedom that comes with your new payment. Happy driving!
Please note that the information provided in this article is based on the details available at the time of writing. For the most accurate and up-to-date information, we advise referring to the official Motability Scheme. The availability and supply of Motability cars is controlled by the manufacturer & not determined by Colin Appleyard Ltd