Excess milage PCP

AdrianC

mogbat975 wrote: »

Excess mileage is 7p per mile and the balloon payment is about 16k

So 25,000 x £0.07 = £1,750.

Or, to look at it another way, if basing the PCP on the correct mileage would have worked out more than £36.50/month more, you're better off having done it this way.

k3lvc

Petrol or Diesel ?

Assuming condition and not poverty spec your £16k balloon could see you at least break even on a diesel and potentially be up on the deal on a petrol - even with the higher mileage.

Out of interest what are WBAC offering for it ?

mogbat975

Wbac £15655, Petrol

AdrianC

So the absolute most it's going to cost you is £345. Pay £16k balloon, drive round to WBAC, walk away with £15,655 in pocket.

System

AdrianC wrote: »

walk away with £15,655 in pocket.

And do not get another car on PCP if you're doing that kind of mileage. £15k gets you a very nice very low mileage 1-2 year old mid-sized car like Mondeo or Insignia.

AdrianC

Tarambor wrote: »

And do not get another car on PCP if you're doing that kind of mileage. £15k gets you a very nice very low mileage 1-2 year old mid-sized car like Mondeo or Insignia.

45k over four years...?

Hardly road-warrior-photocopier-salesman territory.

parking_question_chap

Tarambor wrote: »

And do not get another car on PCP if you're doing that kind of mileage. £15k gets you a very nice very low mileage 1-2 year old mid-sized car like Mondeo or Insignia.

Thats why so many people end up with cars they cannot afford on finance, delusions of grandeur.

k3lvc

parking_question_chap wrote: »

Thats why so many people end up with cars they cannot afford on finance, delusions of grandeur.

But in many cases the finances on a Mundano/Insignia don't work the same.

There are many offers from VW/Audi/Merc/BMW/Jag offering 2yrs warranty/servicing on their approved used stuff. Quite easy to pick up a reasonable mileage 3yo car with 2yrs servicing/warranty/breakdown included for the same price as a repmobile and it'll be worth a shedload more after 2yrs

mogbat975

parking_question_chap wrote: »

Thats why so many people end up with cars they cannot afford on finance, delusions of grandeur.

There was no delusions about it.. I just want the best out..

doctarus

All well and good claiming that they can't enforce the excess mileage but what about the agreement you signed at the start of the PCP term that outlines the payments and mileage? Surely there isn't a way around that is there as you've signed the agreement?