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Due to go over agreed mileage - PCP

  • 24-07-2017 2:23pm
    #1
    colly191091
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hi,

    I am due to go way over agreed mileage (20,000km per annum) on my current PCP deal as I recently moved to Westmeath. I will be commuting to Dublin every day for work.

    From a rough calculation, I will do over 45,000km in the next year with this commute.

    My car currently has 40,000km after 2 years on the deal (152 car).

    So after 3 years, my car will have about 85,000km. (25,000 over agreed mileage).

    I understand there is a charge for every km over the agreed. Am I better off just paying this charge or trying to switch before the mileage gets too high?

    Moving to a diesel may be a decent option to cut down on fuel costs.

    What do you think my best option right now is?

    Thanks
    Tagged:


Comments

  • #2
    Wynner05
    Registered Users, Registered Users 2 Posts: 54 ✭✭Wynner05


    The charge only applies if you are handing the car back and walking away, at worst you will lose some trade in value towards the next car.


  • #3
    Lantus
    Registered Users, Registered Users 2 Posts: 3,027 ✭✭✭Lantus


    What about trading in now when your mileage is average getting a diesel on PCP and work on keeping the next car.

    45k a year is very high so you may be better buying this car outright as it's probably too much for pcp to sustain. Most cars will be on 60 to 80k and yours will be 135k making servicing costs high and equity probably very low. If you can put away some money each month to help pay off the gmfv at the end it will help.


  • #4
    VictorRomeo
    Registered Users, Registered Users 2 Posts: 301 ✭✭VictorRomeo


    colly191091 wrote: »
    Hi,

    I am due to go way over agreed mileage (20,000km per annum) on my current PCP deal as I recently moved to Westmeath. I will be commuting to Dublin every day for work.

    From a rough calculation, I will do over 45,000km in the next year with this commute.

    My car currently has 40,000km after 2 years on the deal (152 car).

    So after 3 years, my car will have about 85,000km. (25,000 over agreed mileage).

    I understand there is a charge for every km over the agreed. Am I better off just paying this charge or trying to switch before the mileage gets too high?

    Moving to a diesel may be a decent option to cut down on fuel costs.

    What do you think my best option right now is?

    Thanks

    What's the charge per KM over 20k? With VW it's €0.06c. Meaning 25km will cost you €1500.

    The only thing about leaving a contract early is you might not get the trade in value that gives you the equity to do something meaningful.


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