Who's on target with their PCP mileage?

[mk4gtiturbo]

Car was one year old yesterday, it's on an 18,000 mile PCP and when I checked the mileage yesterday it was on 18,350.

 

Anyone else over the mileage?  Or way under?

[Mence]

Mine is on a 12000 deal, not quite there in 13.5 months

[pipsyp]

Not at all. On a 10k and had done nearly 19k by its first birthday.

I got caught out by a change in working circumstances (I relocated and quadrupled my daily commute) but I am putting money aside to soften the blow...or the neg equity may soften to allow me to move it along sooner rather than later.

TBF Id rather pay as little for the car with the risk of having to pay some excess than pay over the odds of it and have a mileage allowance I may never use. i guess if you are canny enough though there are ways and means around it.

Depending on how things go, I may even buy the car at the end of the agreement on a loan and give it to the wife. I guess the positives with PCP over the more traditional personal lease is that it affords a few more options towards the end.

[decuk]

About on target for May's 10000/yr. Done 7400.

Dealer said if trading back to them after 3 yrs, even doing 40000 in 3yrs wouldn't affect trade in price.Its only if ending early with PCP company that they try to get more money out of you.

[7oaksoda]

<holds hand up>

Mine's on 10k per annum, on current usage I'll be doing around 9700 p/a - to be honest I thought 10k was a bit too conservative but although I expect my mileage may increase a bit as the year goes on (holidays etc), I don't expect it to go vastly over 10k - saleman told me the mileage limits are (almost) irrelevant anyway as that's the finance company's limit and i'd be handing the car to the dealership as a part ex on a new one so they would do the math on value etc not the finance company - not sure how true that is but as I say I expect to be on course for hitting my limit give or take

[meb90]

Think I overestimated when I did mine. I said 20,000 a year, but its 1 year old at the end of April and I am currently on 15,000. But I moved house late last year which has halved my commuting mileage so I'm doing a lot less now.

 

I may be paying slightly more a month, but hopefully I'll get some back at the end

[airscool]

Said 12K. Almost reached 8K!

[Dr Zoidberg]

13.5k at a year old, so only a bit over the 12k stated, but I plan to keep the car at the end so it's irrellevant.

[DanEds]

Said 15k a year. Car was 18 months old yesterday and it's on 32k!!!!!!!

[themanwithnoaim]

922 over the 10k I stated and I'm ****ed about it, I was aiming to state 2K less than I was actual doing but I seem to have got it badly wrong !!!!

[Orville]

Mine will be One tomorrow . It has done 8.2K miles out of it's 10K allocation, and around 150 of those miles have been taking it backwards and forwards to the Dealer to have things fixed. I envy all of you people with reliable new cars.

[V6Jules]

I said 6k (use the wife's car too) and I've done 600 over... Not really worried

[JamesVRSmk3]

Well over - 19,500 and not quite a year old yet. PCP is 10,000 per year.

This was mainly due to a long trip abroad which added nearly 3,000 miles itself and my partner having an unreliable car so always using mine to go out rather than hers. She's now got a new car so I should go back to doing around 7/8,000 a year which I was doing in my previous car.

Hopefully come 3 years I'll be only slightly over.

[themanwithnoaim]

Who you trying to kid James, us or you ?

[Chappers.]

The mileage limit is mainly an issue if you pan on handing the car back to VWFS at the end of the PCP period.

If you are planning on either a) buying it, or b)using it as a part-ex on a new car with the dealer then it isn't an issue as if option a, then you just pay the agreed final settlement figure that was stated at the start of the agreement. If it's option b, then the dealer will give you a part-ex value which will hopefully be more than the final payment figure.

My Blackline was on 12k a year but a change of circumstances meant I did about 7k poet annum. My latest is on an 8k agreement - it's too early to say how this will go but I'm not worried.

[CainDingle]

Waaaay under. 10k PCP, did 7k in the first year (which finished last month). My commute to work is bugger all, I work from home at least one day a week and the only real long journeys are taking the mrs and kids down to see grandma and grandad, Newcastle-London and back maybe 3 or 4 times a year.

 

Chappers, roughly how much less is it costing you on an 8k than a 10 would've? If you know?

[HotRod]

1 year 5 months old and it's not done 10k yet.

I wonder if the penalty charges per mile work in reverse?

[johnrowley]

Exactly Chappers, the only time the mileage enters the equation is if it is returned to the original finance company. Most dealers expect to be trading them in anyway at some stage so barring unusual circumstances few go back to the finance company. Even the voluntary termination can work in your favour with high mileages though getting that on a pcp would be quite an achievement

Think of pcp not as a contract but as the old hp with a guaranteed future value which is a it really is

[harrysprout]

I overestimated at 13k a year on I have done 7800. Well within, quite unexpected.

[skovirg]

If you are planning on either a) buying it, or b)using it as a part-ex on a new car with the dealer then it isn't an issue as if option a, then you just pay the agreed final settlement figure that was stated at the start of the agreement. If it's option b, then the dealer will give you a part-ex value which will hopefully be more than the final payment figure.

 

 

I think that many people hoping for a few quid of equity at px time may be very disappointed. On the Octavia we have poor residuals and in some cases, high GMV figures... not a good mix. I think that SUK have overestimated the value their cars will retain at the end of the PCP.  Ford made this mistake years ago and the result was dealers charging for every excess mile and being quite aggressive in claiming for any possible blemish that would normally be considered fair wear and tear. I suppose that time will tell.

[pipsyp]

I think that many people hoping for a few quid of equity at px time may be very disappointed. On the Octavia we have poor residuals and in some cases, high GMV figures... not a good mix. I think that SUK have overestimated the value their cars will retain at the end of the PCP. Ford made this mistake years ago and the result was dealers charging for every excess mile and being quite aggressive in claiming for any possible blemish that would normally be considered fair wear and tear. I suppose that time will tell.

I fear the same.

Mines lost not far short of 40% year one which is outrageous really, victim of its own success I think and the supply outweighing demand on the used side of things has just f'd its residuals. V poor.

Ive said it before but two things...glad I didnt shell a hard earned chunk of cash to buy outright (cant say watching 9k of a 23k suitcase of my own money burn would be any fun), also now v glad I didnt spec anu options...not even metallic. I think it couldnt be any truer at the moment...the less you spend on one of these things the better.

I actually feel bad for a guy at my work....his identical car but with DSG and every conceivable option available (perhaps a 31k car list), the loss on that for me would have been unbearable.

[Sheldon.Cooper]

Dealer said if trading back to them after 3 yrs, even doing 40000 in 3yrs wouldn't affect trade in price.Its only if ending early with PCP company that they try to get more money out of you.

Of course it would, a 3 year old car with 30,000 miles on the clock would get a higher trade in price than the equivocal car with 40,000 miles on it.

 

The difference wouldn't be the PCP companies 9p or whatever per mile but there would be a price difference.

[Guest Cossiecol]

On a 22.5k per year and on it's birthday it has covered 32k, however as I'll be getting a new one when the time comes I'm not overly worried as I'm not ending it early and walking away.

[BigLee]

I did consider the depreciation of this, my first brand new car, and compared to how much my divorce cost it`s a drop in the ocean and at least I`ve got something nice on my drive to show where my money went

[RandomSkodaperson]

I am on 24k based on 12k per annum pcp. Lots of University trips with my daughter with many more miles to come.

 

I'm not worried as I bought on the smallest deposit possible over 4 years 0%.You never win with cars so just drive and enjoy.

 

I like the look of the new Superb though.