Oops, I may have under estimated my mileage

[Heaton]

Has anyone got previous experience from going over your estimated annual mileage on either a PCP or PCH deal? I've been lucky enough to land a new role at my work and getting myself off shifts to working Mon-Fri again. Only issue there is my mileage to and from work will almost double

Is there any point going back to the finance company within the first month of the deal and asking to re-calculate the payments or would I be wasting hot air and phone costs?

I'm not too concerned as I will just stop taking the car and take a hit on extra costs taking the train as this will still be cheaper than the extra charges I will face (looking at being approx 5k miles over per year now/10k over the 2 year lease) or will try and organise a car share to reduce the mileage. However as I enjoy driving and want to go to meets down in Ingerland I would like to negotiate some extra roaming miles if possible

[Den]

Give them a ring. Im sure they will be happy to take more money from you.

[fatmcgav]

What are you planning on doing with the car at the end of the agreement?

As I was in the same predicament when getting mine, averaging 15k per year currently. However I was told that the mileage limit is only an issue if you decide to hand the car back... If u pay the final payment or px against a new one, then the mileage shouldn't make a massive difference. The additional mileage is unlikely to devalue the car to the point where it's worth less than the balloon payment, so I wouldn't worry too much...
Therefore I went for a PCP at 10k pa to reduce the monthly payments...

Hth
Gav

[Heaton]

My finance is on PCH as works our cheaper on hire rather than purchase. No final balloon payments just an initial payment and then small payments as my payments cover the loss of value in the car over the term. This is why I'm not sure if they will or not. I know it may be possible to extended the lease at the end or arrange to purchase as they will just be selling it on so this may help me out but I will have to see how good the car is to me over the 2 years before I think about keeping it.

[fatmcgav]

Ah, ok... thought with a PCH u still had the option to buy at the end though...

Does sound like worth giving them a call though... Wouldn't of worries with PCP...

Gav

[Bigfeet]

... The additional mileage is unlikely to devalue the car to the point where it's worth less than the balloon payment, so I wouldn't worry too much...
Therefore I went for a PCP at 10k pa to reduce the monthly payments...

!!!!!

Not much I can say to that....

[CliveP]

I'd call them and explain - in essence I'm sure any extra mileage charges will simply be divided by your (revised) monthly payments.

In terms of what Gav says, it's fine if you definitely intend buying the car - I took out a PCP and got a settlement figure after a couple of months, so my 12,000 miles a year PCP (which was less than a fiver extra per month on 10,000) was irrelevent, as I owned the car outright then - just my way of working as I'm impulsive when I change my car (sensible with all my financial investments, so cars and Japenese Koi Carp are my 'blow' items! lol).....

Ah, I also don't see the point of leaving your pride and joy at home because of the mileage, kind of defeats the point of having it in my opinion....if you want to drive it, then do! Just call them to sort out the increase in payments now....

Regards,
Clive.

[Heaton]

Will do boss I will give them a call on Tuesday. All I'm doing today once I get some sleep is go and see the Dark knight movie once I've had a few hours sleep.

lol had to edit the above. some serious typos from the phone on te way home.

[fatmcgav]

Watched that Sat night... Tis a good watch, if not a little slow to get going...

[joshaspinall]

I have my motor on 3 years PCP also at 10k miles per year..., already done 24k in 18 months! As it's been said as long as you don't hand back the car and walk away, they they arn't fussed really. So long as you get another car from them. If not, the magnifiying glass comes out for an inspection!

The best thing i'd say is to decide whether or not you want to hang on to it at the end of your term or to part ex for another from the same dealer.

[Bigfeet]

Err guys, the balloon payment at the end of the agreement on a PCP is effected by the mileage that YOU state at the start of the agreement. If you said your will cover only 6k per year then the balloon is calculated on that information, so if you charge over than agreed mileage all you are doing is digging yourself a big negative equity hole which you will have to buy your way out of.

[Heaton]

Contacted by broker for the lease deal I am on and they wont adjust the payments until I have had the car for 1 year and then they will adjust it based on the first years mileage. Hmm, this means the payments would be over the next 12 months once they increase rather than almost 2 years resulting in the payments being a lot higher! I'll just wait and see what they quote and see if it is worth it or not and decide whether to start using the bus/train to work or not rather than paying a fortune.

[pcmaczone]

This is why we calculated more than our average mileage for our agreement. Over 4 years we have averaged 12k per year but that does involve a few long European trips. We figured though we would prob do more miles in a diesel car because of the better mpg. We only got around 32mpg out of our C4 so have been driving less and less recently. We went for 15k on a 3+24 deal for the DS3 at £214 pm which I think will do us fine. By the way Heaton, who did you get your car through? Would be a shame to start using the but or train when you have a nice DS3 sitting there begging to be driven?

[Heaton]

I got the car through BestCarLeasingDeals with the finance through Network Finance. I would normally only do approx 6/7k a year with my shifts so opted for the 10k to be safe. Didn't bank on me getting the option to move job so soon. Got mine on 10k on 3+24 for £194. Yours a DSport Plus as well? Can't argue with the deal though. I was paying £175 pm on PCP with 1k deposit on a Mazda 2 when I down sized (down a bit too much) so to only pay £20 pm more is a bargain.

[Bigfeet]

Sorry to ask but is that pre VAT numbers you mentioned?