On the contract that I signed it says:-

 

'The excess mileage charge payable pursuant to clause 11 of the terms is 4.4p (incl.VAT) per mile'.

 

So if I go over by 5000 miles,for example,the excess mileage charge would be?

On the contract that I signed it says:-

 

'The excess mileage charge payable pursuant to clause 11 of the terms is 4.4p (incl.VAT) per mile'.

 

So if I go over by 5000 miles,for example,the excess mileage charge would be?

 

£220, so not worth worrying about.

£220, so not worth worrying about.

Exactly! I'll get on with enjoying it without too much clock watching

If you made the contract with the higher mileage, your monthly payments would be roughly the same as your 4.4p adjustment figure. That's why it's better to underestimate, rather than overestimate your mileage when you take out a PCP. This way you only pay for the excess mileage when you do it Almost win win

I won :clap:

If you made the contract with the higher mileage, your monthly payments would be roughly the same as your 4.4p adjustment figure. That's why it's better to underestimate, rather than overestimate your mileage when you take out a PCP. This way you only pay for the excess mileage when you do it Almost win win

 

That's usually the case, but not always. Some PCPs have a far higher excess mileage charge in which case you are better off with an accurate guesstimate (or with a different car with lower mileage charges).

That's why I said 'roughly' as you need to see what the excess figure is, but I've often asked, or when selling altered numbers, to see what the outcome was of this mileage adjustment and it's not very often I saw much difference. Usually it's a teeny bit more expensive to pay for the extra mileage on a mile per mile basis, but those who overestimate their mileage on the PCP often don't see the 'refund' of the difference when they trade in, so you lose out that way instead. I'd always recommend that unless the price per mile is exorbitant, you don't put extra miles on the PCP that you don't need, you are very unlikely to see the extra cash returned when you part-ex/sell etc

There's always the option of negotiating extra mileage into the deal too.....

 

A workmate of mine has just gone for one of the Octy Scouts on the two year lease deal. It was originally advertised by Simpsons in Preston with 8,000 miles per year but he went in to D.M.Keith in Leeds and negotiated the same deposit and monthly payments as the Simpsons deal but with 10,000 miles annual mileage instead. The excess charge of something like 4p-6p was also kept the same.

Well I'm more than happy with my 10,000 mile,4.4p excess,now Ive done the maths.