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Thread: In a quandry???????

  1. #1
    grumley
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    In a quandry???????

    I currently have an Astra 2.0 CDTI SRI (165BHP) with Motability which is due to expire in Nov 2014.
    I've Just turned 65 but after April 2013 so I will be one of the first of the general batch to go onto PIP in late 2015. Now I think along the lines of 'preparing for the worst and hoping for the best' and after doing my own assessment I won't get any award under PIP (currently have HRM & MRC indefinitely). If I appeal against the PIP decision and lose at a Tribunal, I will be prohibited from ever claiming PIP again due to age, so no mobility element - I'll claim Attendance Allowance for care only.
    So I have from now until late 2015 to receive my HRM.
    I have two choices, change in 2014 and get another lease car and then lose the car completely in late 2015, or buy my own car now and use the DLA for the next 2 and a bit years to pay the finance.

    I don't think that getting a new lease in 2014 is the right option, too much of a gamble.

    So I am left with buying one.
    Motability have said that they will fund the purchase up to £11200 over 5 years but the car must be under 2 years old.

    I have two choices of cars that I think will suit me. An Insignia 2.0 CDTI SRI - 61 reg costing £11200, or a Mercedes 220 CDTI Sport - 59/10 reg also costing £11200. I wouldn't want to buy an Astra, they cost too much and lose a lot of money as does the Insignia, but the Insignia is the right size for me if I am buying a car. I would love an Audi A5 or A6 but they are too expensive!!!
    Both cars will have around 10K mileage.

    I will have to get private HP for the Mercedes but the same amount each month.
    I can afford to carry on paying if I lose the PIP mobility out of my Pension Credit

    The Vauxhall will lose too much money over 5 years but the Mercedes will hold it's money well.

    Am I looking at this in the right way and if I went with the Vauxhall and a Motability HP deal, what happens when PIP comes in and I lose the mobility? Do they demand that I pay off the outstanding balance there and then or they take the car back?

    My way of looking at it is that Motability is good with guaranteed finance, but bad if I have to find say £7000 after 2 and a half years or the car goes back with the car only worth about £4500. I wouldn't give Motability in that situation £7000 for a £4500 car! That isn't a problem other than I won't have a car but at least the loss will have to be stood by Motability (HP deal - 50% paid)

    If I go for the Mercedes it will be worth at least £8000 meaning that I would carry on paying for it myself.

    At the end of the day the Vauxhall would be worth £3000 in 5 years with the Mercedes £6000

    Both will cost the same to run.

    Any comments please?

  2. #2
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    If your car expires in 2014, then I wouldn't worry about PIP till then. There is no point in cancelling your current contract now, just to get a HP deal. I would wait and see what happens with PIP as there may be changes to it by then.

  3. #3
    Senior Member Kodiak's Avatar
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    About three months before you present contract runs out you will receive a letter from Motability. In it there should be a quote for your present car if you wish to buy it from them. If this is suitable you would need to pay cash for it but it should be possible to get finance for it. I believe that Tesco Bank will do car loans if you receive DLA, which you will still be receiving.
    Deep into that darkness peering, long I stood there, wondering, fearing, doubting, dreaming dreams no mortal ever dared to dream before.
    Edgar Allen Poe

  4. #4
    grumley
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    Quote Originally Posted by CTCELT88 View Post
    If your car expires in 2014, then I wouldn't worry about PIP till then. There is no point in cancelling your current contract now, just to get a HP deal. I would wait and see what happens with PIP as there may be changes to it by then.
    Thanks. But when PIP comes in I have to assume that I will have it all taken away from me. It's a dead cert that the 20 metre rule will stay and having had years of experience with ATOS with medicals for various benefits, I don't trust them to get anything right. Besides which PIP will be awarded for short periods to be re-assessed at regular intervals.

    Hence by doing the deal now, I will at least get two years of DLA payments to cover the HP contract.

    By cancelling now I have worked it out that I will receive from now until October 2015 approx. £6500 in mobility payments. Isn't it better to put it into a car I will own instead of renting one with it?


    Keeping it going until 2014, then what, buy a car then? I wouldn't want to buy the Astra.
    Last edited by grumley; 14-07-13 at 14:38.

  5. #5
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    Quote Originally Posted by grumley View Post
    Thanks. But when PIP comes in I have to assume that I will have it all taken away from me.

    Hence by doing the deal now, I will at least get two years of DLA payments to cover the HP contract.

    Keeping it going until 2014, then what, buy a car then? I wouldn't want to buy the Astra.
    You will have to contact Motability and ask if you can cancel your current lease. If I were you, I would think carefully as to what to do in regarding HP. Their interest rates are not the best. You might be better off cancelling Motability, and getting a loan to buy a used car thats a year old. Tesco and Sainsburys do good rates for loans.

    I'm going to be in the same situation come 2015. My current car is a VW Golf 1.6 Match TDI DSG. When my lease expires in 2015, I am undecided whether to take out a new lease or not. Like you, I dont think I'll get higher rate PIP moblity either. I don't think I can afford to buy the car off Motability, as it would be worth around £12,000. A bit pricey. Haven't a clue what I will do in 2015.
    Last edited by CTCELT88; 14-07-13 at 14:43.

  6. #6
    Deleted
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    I can understand you examining your options Grumley but don't make any decision just yet because Motability are about to make an announcement aimed at folk that are worried about losing their entitlement and there's still a possibility the 50m rule won't be introduced ?

  7. #7
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    What announcement is this? Where did you hear this? Haven't heard that Motability are planning something to help those who lose higher rate. If they do, it is probably something like buying the car of off them using HP.

  8. #8
    Deleted
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    Gel

    Here's my suggestion then.....get High Steet finance like already mentioned.....aim for a car that'll still be worth a few bob when you're finished paying e.g.

    http://www.directcaruk.co.uk/used-ca...01328522642659

    I just used the above example because it's got a bullet proof DSG gearbox (6 speed).....the 7 speed on the other hand can be bothersome......it's got plenty get up and go like your present car but superior residuals.
    Last edited by Deleted; 14-07-13 at 16:43. Reason: typo

  9. #9
    Deleted
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    Hi Celtic, I think I read something about the announcement over on Rightsnet ?.....I honestly can't remember ?

    Ill post a link if I can locate the article.

  10. #10
    Senior Member susieboots's Avatar
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    The 20m rule is a complete farce. Many people have to negotiate this distance just to reach their vehicle!

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