Motability Announce £750 New Vehicle Payment Can Now Be Used For Advance Payment
The New Vehicle Payment was increased to £750 last month in March to help Motability customers get their next vehicle and can now be used towards the Advance Payment.
Motability customers are set to get their next vehicle even easier after it was announced earlier in April that the New Vehicle Payment of £750 can now be used towards the Advance Payment.
This is the amount required upfront for some large or high-specification vehicles, according to the scheme. The Advance Payment covers the difference between the cost of the vehicle and your Motability allowance, which is paid over the course of the contract.
Fuss-free financing
For those eligible, the New Vehicle Payment can now be sent directly to the dealership to cover some or all of the Advance Payment.
This will be arranged for you before your new car is ready, meaning you don’t have to do a thing! You’ll also receive a confirmation letter once your order has been processed.
Depending on how much your Advance Payment is, you may have to pay the difference if it goes beyond £750. For instance, if you order a vehicle with an Advance Payment of £1,000 and wish to use your New Vehicle Payment, you will still have £250 left to pay.
Alternatively, if you choose a vehicle with an Advance Payment of below £750, the difference will be sent to you within 1-2 weeks of your new vehicle arriving. This means that for a vehicle with, say, a £500 Advance Payment, you would receive £250 back in about a week, sent directly via bank transfer.
Whatever suits you
The New Vehicle Payment is designed so that it can be used according to your needs, giving you flexibility when it comes to getting your new vehicle.
If you decide not to send the payment directly to your dealer, you’ll receive it in full via bank transfer if your details are saved within your online account, otherwise, it will be sent via cheque.
If you’ve already ordered your new vehicle or Wheelchair Accessible Vehicle (WAV), not to worry! You can still put your New Vehicle Payment towards your Advance Payment.
All you need to do is contact your dealer directly and notify them of the change, and they will help you with anything further required. Note that the New Vehicle Payment is only available once per customer, so if you have already received it, you won’t be able to request it again later.
Unfortunately, you can’t use the New Vehicle Payment to help cover the cost of adaptations or extras with your vehicle, nor can you send your Good Condition Payment to your dealer in addition.
Am I eligible for the New Vehicle Payment?
Both new and existing customers renewing their lease are eligible for the £750 New Vehicle Payment, as long as the order is placed before the end of 2023. However, the payment can only be received once so if you've already received your new vehicle since the payment was introduced, you won't receive it again on your next lease.
Ready for worry-free motoring?
Enjoy everyday freedom and mobility with the perfect vehicle designed for your needs. At Bristol Street Motors, we offer a range of Motability vehicles from top manufacturers such as Citroen , Dacia, DS, Ford, Hyundai, Mazda, MG, Nissan, Peugeot, Renault, SEAT, SKODA, and Vauxhall.
This means not only can you find a car that caters perfectly to your requirements, but also have one of the latest models to enjoy on your travels! All for a fantastic price. What more could you want?
Head to our Motability Car Search now to get started.