When I took out a 42 month PCP on my new Fabia I agreed to doing 10,000 miles per year.

 

I've almost done 1000 miles in just over two weeks,so now worrying about going over the agreed threshold (35,000 miles altogether) by the end of the contract,when I intend to part with it for another new car.

 

There's a danger I'll keep looking at the milometer instead of enjoying the car by avoiding nice family days out to keep the mileage down.

 

Am I being overly cautious?

 

 

I would say yes

 

They only tend to clamp down on the excess mileage charges if you intend on handing the car back and walking away, they usually come to some sort of deal with you if you are going to part exchange it in for another car, at least this is what has happened in my past experiences on PCP. I was almost 10,000 miles over my contracted miles, but they never mentioned this upon p/x for my new car. Maybe I have a nice dealer!

Edited 17 March, 201610 yr by Matt17121991

That's comforting,thanks.

 

We like to go on some long drives at the weekend and also an annual holiday in the car so don't want to be worrying about clocking it up.

To avoid nasty surprises, I'd recommend putting some money aside to cover the excess mileage charges now, as your plans may change over the period you have the car and it's better to have started saving from the beginning.

To avoid nasty surprises, I'd recommend putting some money aside to cover the excess mileage charges now, as your plans may change over the period you have the car and it's better to have started saving from the beginning.

 

I'd tend to agree with this tbh, you are probably using it more than usual because it's a new toy of course but If you continue to do that sort of mileage your going to be what, double the agreed mileage? at the end of your contract. That will probably equate to about £2000 excess charge, you more than likely won't be asked to pay this but If you part exchange it for a new car that's going to be a big factor on any deal you can make. Personally I'd try and put aside half that and enjoy the car.

All good advice,thanks.

I'd tend to agree with this tbh, you are probably using it more than usual because it's a new toy of course but If you continue to do that sort of mileage your going to be what, double the agreed mileage? at the end of your contract. That will probably equate to about £2000 excess charge, you more than likely won't be asked to pay this but If you part exchange it for a new car that's going to be a big factor on any deal you can make. Personally I'd try and put aside half that and enjoy the car.

I am enjoying my new toy!.

 

I was averaging 12k per year in my old Mazda so perhaps I'll get the bike out and do a little more local walking!

I am enjoying my new toy!.

 

I was averaging 12k per year in my old Mazda so perhaps I'll get the bike out and do a little more local walking!

Ha ha, yeh don't let the worry of mileage charge get in the way of enjoying the car!! I'm on a 6,000 miles per annum contract with my Abarth and am well over that but the bloody little thing is too much fun to be sitting in a drive!! The push bike will be back out for my commute now the goodish weather is round the corner though. :(

Fabia left in the driveway,ye olde bicycle dusted off and oiled to go

Edited 17 March, 201610 yr by RickW

VAG charge a fraction of the amount per extra mile that some others do and it is surely only what you would expect in terms of what a higher mileage car would be worth ( a few hundred less). I wouldn't worry at all! Enjoy! Sounds like a lovely car.

VAG charge a fraction of the amount per extra mile that some others do and it is surely only what you would expect in terms of what a higher mileage car would be worth ( a few hundred less). I wouldn't worry at all! Enjoy! Sounds like a lovely car.

Thanks for the reassurance.

 

I've never owned a brand new car before so it's an unusual experience for me.

 

I'm driving carefully and am wary of parking it too close to other cars on car parks,in case it gets a door banged against it.

 

Most of all I'm really enjoying the drive and the on board technology is amazing to me.

Thanks for the reassurance.

I've never owned a brand new car before so it's an unusual experience for me.

I'm driving carefully and am wary of parking it too close to other cars on car parks,in case it gets a door banged against it.

Most of all I'm really enjoying the drive and the on board technology is amazing to me.

Just part ex it for a new one a month or two before your end date...no problem. I've being doing it for years and never lost out...

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On the lease deals for the Fabia the excess mileage charge is 6p per mile..... So wouldn't break the bank.

my understanding is simple

 

if you walk away and hand the car back you WILL pay the excess mileage charges as there is no other way to adjust the price to take into account the excess mileage compared to what was agreed when the contract was signed

 

if you part ex the car (either with skoda or any other brand) you ring up and get a settlement figure (that is simply what is left outstanding on your finance minus any early settlement rebates) the dealer gives you a part ex valuation based on mileage and condition of the car and you either have equity (a higher part ex value than settlement) which then can be used as deposit, or you have negative equity ( what is left on finance is more than part ex) then you will either to put money in for deposit / cover shortfall or increase your next finance to add it in which some allow you to do

Just to clarify something.

 

I'm on a 42 month plan so would it be prudent to settle and trade in for a new car before the 30,000 mile service or 36 months (first MOT) ?

Just to clarify something.

 

I'm on a 42 month plan so would it be prudent to settle and trade in for a new car before the 30,000 mile service or 36 months (first MOT) ?

It would depend on a few factors, whether you were in negative equity with your existing car (probably), if you are on a service plan, if there are any new car promotions on at the time etc.

I'm not on a service plan.

the 30,000 service is a minor (oil and filter change) so should about the same price as the 10,000 service so not a biggie, the 40,000 is a big one so I would say before that or MOT

 

how far into the PCP are you?, I usually take out 42 month PCP and change my car just before the 3 year point so I don't have issues with MOT, Warranty etc. I start the process at about 2 1/2 years

 

starting pint is to ring VW  finance, you will need your agreement number and car reg if I remember correct, then have a quick look on auto trader to get a free part ex valuation to see how far apart they are

 

then you can do a basic calculation using your monthly payment to work out when you will be out of negative equity then you can work out when to start looking, stock cars or pre-reg are available in a few weeks, factory orders are 3-4 months

 

if you are just going to swap it for another fabia on a higher mileage PCP I would say don't bother, just keep what you got and pay the additional service costs as it will be cheaper than paying negative equity and finance charges for a new PCP

Just to clarify something.

 

I'm on a 42 month plan so would it be prudent to settle and trade in for a new car before the 30,000 mile service or 36 months (first MOT) ?

You can get the mot done up to a month early (but still dated from 3rd anniversary. Should be fixed price and if any warranty work needs doing can get that done at same time. If you have service done at same time then should be good to keep car upto about 47 months before any more maintenance expense.

You need to balance the extra cost of the work vs the monthly premiums and change in value at the 35 month (before mot and service), the 42 month (end of agreement) and 47 month (no extra servicing over 42 months, but will have needed to finance balance, then repay when sold).

If you really want to avoid expense then need to think about swapping front and rear tyres about 18,000 miles so you hand back with 4 worn tyres rather than needing to buy 2 new front ones.

Good advice all thanks.

 

My wife gets her new Citigo next month on a 42 month PCP too.

We did an agreed 15,000 per annum on our 42 month PCP. Think it's about an extra £12 per month, & we can enjoy the car without worrying about clocking up too many miles.

I've heard there's a way of changing it up from 10,000 to 15,000 if necessary? May be wrong.

 

Coming up to the first month and I've done 1100 miles (gulp!).

 

Only gripe up to now is the annoying rattle from the glove box,otherwise love it..

If it is any consolation, it's better to underestimate your mileage on a PCP rather than overestimate. Occasionally people put a few thousand extra 'safety' miles onto their PCP, just in case. Then they find that, not only do they not cover the extra mileage, but they pay more per month for the privilege. Even then you might think that the car will be worth more when it comes time to change, but of course this isn't always the case. So if you do go over your mileage, don't worry, put a little bit aside (if say after 6 months your mileage hasn't started to average out) relax and know you have still done the sensible thing

I suppose this is why clocking is a big problem in this new age of PCP

The big problem is for anyone doing it and being caught.

It is a rather expensive action when caught acting in a fraudulent way.

(Plenty leasing privately and then using commercially as Hire Cars, couriers, driving schools etc get caught out.)

 

Finance / lease companies and car auctions are very close these days, and it is a rather easy check on mileages even when a competent clocker did their best.