black horse finance

klew356

Hi everyone,

Hoping someone can give advice as i am just not sure at all.

I have a car on finance which i have set my milage at 8k a year. Unfortunately my father spent a month in hospital which was 140 mile round trip which i was doing most days. I have done nearly 5k already and although my father thankfully is out of hospital i look set to go over the 8k in the first year. its a pretty new car that i am not planning on getting rid of until minimum end of 2019 – question – do i up my milage or will this even itself out and that will be ok? I don’t want to be hit with an over milage charge?

bengalknights

If im reading correctly you have around 11000 miles to use over the next 31 months

If so do you think you will average less than 350 miles a month?
If not call and ask how much extra mileage will cost versus paying by the mile

Ectophile

If you pay off the finance in full at the end of the contract, the mileage doesn't matter. It's now your car, and the finance company won't care any more.

flashg67

If it's a PCP, the mileage is only an issue if you plan on just handing it back at the end of the term. If you plan on selling it yourself, or trading in, you may lose some value due to the higher mileage, but you won't need to actually fork lout the cash.
Worth a call to see how much it will be - basically spreading the cost over the remaining term.

klew356

Hi,

Thank you for your reply, i live and work in the same town so i don’t do alot of travelling just for work i do go other places, obviously but i can generally keep my milage fairly low as i am not always the driver. I think i will monitor it this month and go from there and give them a ring to find out

caprikid1

There are also threads regarding Voluntary termination and mileage excess. Worth reading.