Hi all

I'm on a 10k p/a 0% pcp.

I'm keeping a record of my mileage and worked out I'm going around 900 miles a year over the 10k (so would be 2700 miles over by the end).

Am I better budgeting for any change in part ex value or having extra to pay at the end, or should I contact vwfs and amend the pcp mileage now?

Thanks.

Steve.

I was told when i collected my car that they would only fine you if you decide to hand the car back at the end of the term, if you was to stay with skoda and upgrade they would just write the extra miles off.

What is the excess mileage charge? Its probably around 7p per mile, which would mean you'd get charged £189 for going over.

Hardly going to break the bank in my eyes

 

As said it depends what you do at the end of term, the dealer may choose to ignore it.

Not sure about now, but many years ago when I had a van on contract hire, I was told that you could increase your mileage allowance once without risk of being charged any excess.

 

Don't think you can call it a 'FINE'  really though?

This is not contract hire, so the mileage only matters if you decide not to keep the car.

Not sure about now, but many years ago when I had a van on contract hire, I was told that you could increase your mileage allowance once

without risk of being charged any excess.

Don't think you can call it a 'FINE' really though?

Well the term used two weeks ago when i collected my vehicle from the dealer was that i would be FINED if i exceeded my mileage allowance at end of my term.

Edited 11 May, 201610 yr by Foster88

Well the term used two weeks ago when i collected my vehicle from the dealer was that i would be FINED if i exceeded my mileage allowance at end of my term.

They make it sound as though you've been breaking the law if you exceed the mileage using that word.

Fine and  the naughty step beckoning?

 

It's just to cover the decreasing estimated value of the vehicle due to higher mileage, surely?

Edited 11 May, 201610 yr by Adenuf

This is not contract hire, so the mileage only matters if you decide not to keep the car.

Yea, but the principal was the same.

Go over agreed mileage, pay the excess per mile to cover decreasing value due to.

Don't sweat it. Look at your options and see if it will really impact you.

1. Hand it back at the end and walk away, pay the £189 'fine'.

2. Trade it in for another car wherever you like, as long as it covers the remaining value the mileage won't matter.

3. Opt to keep it, refinance the car or pay a lump sum.

There's not really a bad outcome at the rate you have discussed, if you were using it as a taxi and doing 80k a year whilst thinking of giving it back atvthebend of the PCP then it would be a worry

Phone them up and increase your allowance?  BMW Financial Services do it free of charge!

You also have the Voluntary Termination option - as long as you have paid 50% of the owed amount, you can simply terminate the contract and hand the car back.

Your circumstances may change in year 2 or 3, and you may do less miles.

I wouldn't bother changing it for £189 extra, just keep an eye on it, if it starts to get way above, then maybe.

No doubt there is an admin charge from VWFS to change it.