Motability New Vehicle Payment Extended Until End of 2024
Customers will now be able to claim the New Vehicle Payment until the end of 2024.
- The New Vehicle Payment was introduced to help cover the costs of buying a new vehicle through the Motability Scheme.
- The payment initially awarded £250 to disabled motorists to put towards their next vehicle, though it was later increased to £750.
- Motability recently announced the payment will be extended until the end of 2024 to help more Motability customers.
Since 1977, Motability has helped disabled drivers enjoy worry-free motoring, with the perfect car to suit their needs.
Today, the Scheme remains as devoted as ever to its customers, with a recent extension made to the New Vehicle Payment. Customers will now be able to claim the New Vehicle Payment until the end of 2024.
Read on for the full run-down.
About the New Vehicle Payment
The New Vehicle Payment was introduced in February 2022 to help Motability customers pay the Advance Payment on a new vehicle.
Initially, this was capped at £250, though it was later increased to £750 in March 2023 amid rising vehicle costs.
You can use the payment to cover part or all of the Advance Payment on a vehicle. This is the amount paid upfront for vehicles with a more advanced specification.
The New Vehicle Payment allows all customers to access high-quality vehicles, no matter the cost. This brings you greater choice when it comes to finding your next vehicle.
Am I eligible for the New Vehicle Payment?
The New Vehicle Payment is available for Motability customers ordering their first vehicle. If you are new to the scheme and order your next vehicle before the end of 2024, you will receive the payment.
If you are already on the Scheme and have not had your New Vehicle Payment, you’ll get it whenever you get your next vehicle.
The payment will be processed once you receive your new vehicle, even if this happens after 2024 – so not worry if you haven’t yet received it!
For more information on eligibility, head to the Motability website.
How does the process work?
The payment will be sent directly to the relevant dealership, meaning there is nothing for you to do. Our Motability representatives can even complete all the paperwork to make things easier.
If the Advance Payment is less than £750, you will receive the difference via bank transfer. However, if the Advance Payment exceeds £750, you will need to pay the difference.
If you choose not to use your £750 towards the Advance Payment, Motability will send this to you in full within a few weeks of getting your new vehicle.
For more information on the Advance Payment, get in touch with our friendly team.
Motability at Vertu Motors
Ready to find your next Motability vehicle? At Vertu Motors, we have a wide range of vehicles from top manufacturers ready for you to explore. From Audi, BMW, and Honda, to Kia, MINI, Toyota, Volkswagen, and more.
Book an appointment at your local dealership or fill in an enquiry form to get started.
For more helpful news and updates on all things Motability, keep an eye on our /news/newsroom.