Automatic Lease Extensions Reduced to Six Months for Motability Customers

23/04/2024 11:40

The news comes after an improvement in the supply chain, making the process of securing a new vehicle quicker and easier.

• In April, Motability announced that customers coming to the end of their lease will be given an automatic six-month extension.
• This will remain in place until the 15th August 2024 before it is then discontinued.
• The extension used to be for two years but has now been shortened in response to an improvement in the supply chain.
• You don’t need to do anything, as you should have received notice of this in your latest renewal letter.

 

Motability has announced that the period for lease extensions has been reduced from two years to six months. This will remain in place temporarily until 15th August 2024.

Read on for all you need to know about extensions, how they work, and the recent changes.

Why was the extension period reduced?

The reason why lease extensions have been reduced from two years to six months is quite simple. With recent improvements in the supply chain, customers no longer have to wait for access to new vehicles.

So, if you need to extend your lease, you’ll be given an automatic extension of six months. You’ll still enjoy the same benefits as part of your worry-free package and will be able to secure your new vehicle faster.

Remember, you’ll only receive the automatic extension until 15th August, before these are then discontinued.

What are lease extensions on the Motability Scheme?

In case you didn’t already know, you can request a lease extension if you need to keep your vehicle for longer.

This may be because you need some more time to look for a new one, and this applies to both cars and Wheelchair Accessible Vehicles (WAVs).

If you do seek an extension, you can still order your next vehicle at any time meaning you won’t have to wait if you find one you like.

You can view your options in the ‘Current lease’ section of your Motability Scheme Online account, which you can log into here. If you’ve yet to create one, read our handy guide to setting up your Motability Scheme online account.

You should also be sent information on this in your renewal letter, which is normally sent around three months before the end of your lease.

MOTs and lease extensions

It’s important to know that you’ll still need an MOT test with a lease extension. This should be completed within the last three months of your lease before you return it.

Motability recommends booking your MOT at least a month before it’s due to allow plenty of time. Your MOT costs will be included in your lease with the Motability Scheme, as well as other associated costs like tax and insurance.

Another thing to note is that you’ll still be able to receive payments like the Good Condition and New Vehicle Paymentsif you extend your lease.

How do I request an extension?

To extend your lease, you’ll need to get in touch with your Motability dealership to make a change to your application.

If you need any help or assistance, feel free to contact our Motability Specialists. Our friendly team will be happy to point you in the right direction and offer any support or advice.

Motability cars at Bristol Street Motors

Time to start looking for your next Motability car? At Bristol Street Motors, we have a wide range of the latest cars from top manufacturers.

Whatever it is you’re looking for, we’ll be there to help you every step of the way. From finding the perfect vehicle to choosing any adaptations to make it more suited to your needs.

Thinking about going electric? Check out our list of some of the top EVs on the Motability scheme with an Advance Payment under £1,000.

Start your search now by looking at our latest Motability deals, or get in touch if you have any further questions.

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