Can I cancel my Motability car lease early?
The Motability Scheme gives eligible drivers a way to retain the freedom of mobility with a brand new car on lease in exchange for a qualifying mobility allowance.
Typically Motability Scheme agreements run for three or five years. However, if you need to cancel your lease early, there may be concessions that allow you to end it before this term.
Cancelling Motability if you’re near the end of your lease
When you cancel your Motability car, you may incur a charge of £250. So if you are entering the final months of your Motability lease, it may be worth waiting until the end of your lease before cancelling.
Reasons for cancelling your Motability car
Some of the common reasons for cancelling a Motability car lease or changing your vehicle include:
Your mobility needs have changed
It’s understandable that needs to change over time so you may be eligible to cancel your Motability car if:
- You no longer have mobility needs
- You have additional accessibility requirements and the vehicle doesn’t fit your requirements
Car no longer suitable
Sometimes personal needs change and the suitability of your existing lease vehicle doesn’t meet them. You may be eligible to cancel your agreement if:
- The car is no longer suitable
- You need a larger vehicle
- The vehicle doesn’t suit additional adaptations
- You need to change to an automatic transmission
Moving to WAV
If you’re thinking of cancelling your Motability car to move to a wheelchair accessible vehicle, the WAV Experience scheme may be suitable.
WAVs, or Wheelchair Accessible Vehicles, are designed for wheelchair users and have increased stowage space and greater accessibility to suit your needs.
Other considerations when you cancel a Motability car
If you decide to end your current Motability lease early, you may receive an Advance Payment refund or the Good Condition Bonus.
Advance Payment pro-rata refund
When you return a Motability vehicle, you may receive a refund of any Advance payment you have paid (on a pro-rata basis). So don’t be put off cancelling a Motability car if it’s no longer suitable and you paid an Advance Payment, as you may get some of that money back.
Good Condition Bonus pro-rata refund
Cancellation of your lease may also provide eligibility for a pro-rata Good Condition Bonus. This bonus is based on returning your car in good condition at the end of the lease.
The amount received is dependent on the length of the lease and is currently £600 for a 3-year lease and £900 for a 5-year lease. If you end your agreement early, this payment will be pro-rata, depending on the car’s condition.
Make sure you get your car serviced regularly (as this is included in the price of your lease) as well as taking care of the paintwork, wheels and cabin.
Contact Pentagon’s Motability specialists
At Pentagon, we have a team of friendly specialists that help with information and advice on your Motability lease. We can even deal with the paperwork side of things to make it hassle-free.
If you are eligible for the cancellation of your current agreement, we can also help you choose your next vehicle so you get the best model for your needs.
Contact us today to find out more.