Excess Mileage?

[qwijibo]

Hi Everyone,

I have taken out a PCP deal through Evans Halshaw and just wondered what the excess mileage charge is on the Elect 3 package? I believe i have a 10k/year limit but i have had the car for 7 months now and have done just over 10k miles already!

I cant seem to find any figure on the finance docs, only reference to the fact that charges will be payable if i go over - which i will do considerably. Is there any way i could increase the limit, and if so would this be worse than just coughing up at the end of the 3 yr PCP?

Any help much appreciated as always!

[pokertit]

hi i have the same deal and mine is 12k limit raised by me before i started it, the excess milage charge is 8.4p per mile plus vat, so 1k miles extra is £84 and so on.

[ZACK]

I have taken out a PCP deal through Evans Halshaw and just wondered what the excess mileage charge is on the Elect 3 package? I believe i have a 10k/year limit but i have had the car for 7 months now and have done just over 10k miles already!

Don't You Think You Should Have Worked This Out At Order Stage ?

:L

[mattds3sport]

tbh i keep thinking this but i no at end od 3 years im having it off them anyway so wont make blind bit of difference, but tbh i just hit 8000 and its a year and 2 months old :\. so not too much to worry bout ( my limit is 12 a year) otherwise id ring finance company and say u wanna raise the miles per year it mite put a pound or 2 on ur monthly payment i bin told

[qwijibo]

Looks like i might need to ring the finance company and see if can wangle an extension!

Thanks for your comments

[Bigfeet]

The figure is on your finance documents at the bottom of the page which details figures and is different from deal to deal.

Remember the mileage only comes into play if you plan to hand your car back.

On a side note if you knew you were going to be going over the mileage limit then you should have made sure that you had the figures adjusted correctly or your dealer should have checked it with you before you signed.

[x6411]

With our old car, we set our mileage at 6000, and we done nearly double that in the first year so we were getting worried.. Took a long shot and rang Peugeot(PSA) finance to see if we could pay to have the mileage increased to 10'000 rather than pay 5p per mile at the end of the term.. They said they would increase it free of charge.. So we asked how much it would be to change it to 12'000.. they said they'd do it free, because the residual value of the car had went up!

[qwijibo]

With our old car, we set our mileage at 6000, and we done nearly double that in the first year so we were getting worried.. Took a long shot and rang Peugeot(PSA) finance to see if we could pay to have the mileage increased to 10'000 rather than pay 5p per mile at the end of the term.. They said they would increase it free of charge.. So we asked how much it would be to change it to 12'000.. they said they'd do it free, because the residual value of the car had went up!

Well that's good! Will give them a ring when i get a chance.

Just in answer to Bigfeet's comment.... We tried to get as high mileage as possible from the dealer but we also had a lot of negative equity from the part ex car, so he was reluctant to raise it to what we needed and we accepted that there would be a charge at the end - just wasnt sure what that would be!

If at the end of the 3 year pcp we got another citroen through evans halshaw (maybe the nice-looking DS5!) - would the excess mileage be forgotten about?

[Bigfeet]

^ Seriously!!

What your dealer did was most likely a breach of the FSA trading guidelines. The GFV has no bearing on your negative equity it sounds like to me he was scared that you wouldn't do the deal if the monthly payments were higher. Think I'll add this to my big book of 'Your dealer do what!'.

At the end of the agreement you are going to be in neg-eq again because of your dealer's actions, the GFV is worked out on a car's value with the mileage agreed at. If you have gone thundering over that then your car's value is going to be much less than the GFV so if you PX you will have neg-eq to worry about. The handback option means that you are definitely going to be paying a heap extra to return the car and if you opt to buy it then you will be doing that at an inflated price.

[qwijibo]

Just checked documents and we seem to have 15k a year, with excess mileage charge at 4.98ppm so thats a big relief - was expecting to pay couple hundred or so at the end anyway.

Thanks to everyone for their help and comments!

[Bigfeet]

Your very welcome, shout us up if you need anything else.

[jazd71]

if you go over your mileage it only matters if you "hand your car back in" at the end of the agreement, then the finance people will charge the p per mile charge over what you originally had on your agreement ;if you trade it doesn't make any difference to the finance company only to your px value. I have a 25k miles a year agreement only cost me £6 per month to go up to 30k but as I am looking to change my car I wont bother.