PCP *total* mileage query

[spunko2010]

Hi all, My BMW is on PCP for 8k miles/year for 4 years, so a total of 32k miles. I'll likely be hitting that point at around 2.5 years in... (I've had the car for 2 years currently). I was planning on selling/trading the car in within the next 6 months, but not sure if I should rush to get rid before hitting 32k? I'm worried I will get hit with the excess mileage charges if I wait. Since the contract hasn't run the full length of the contract but I've gone over the total 4 year mileage in <3 years, will these be levied?

I've done a search but all I can see is people trading it in early when they are over their annual - rather than total - mileage.

Edited by spunko2010 on Saturday 8th November 10:16

[sw67]

Mileage only matters if you want to hand back the car and walk away. If you are trading in it does not matter.

[spikey78]

The mileage is only relevant if you go back to the supplier you got it from.. If you sell it privately or trade it in somewhere else it doesn't matter

[daemon]

As per the above comments. The mileage charge only kicks in if you and it back to the finance company at the end of term.

My golf will be well over the mileage, but i've no intentions of handing it back so its not an issue per se.

[spunko2010]

Ok, thanks. So just to confirm I can't go back to the dealership I got it from? I got it from Coopers so does that mean all Coopers or just this branch etc

Or is this a red herring?

[daemon]

spunko2010 said:

Ok, thanks. So just to confirm I can't go back to the dealership I got it from? I got it from Coopers so does that mean all Coopers or just this branch etc

Or is this a red herring?

Red herring.

You can go back to the supplying dealer or any dealer you like.

The handback at the end of the contract would be done to the FINANCE company, NOT the supplying dealer (or any other dealer for that matter)

[Stuperbulous]

spunko2010 said:

Ok, thanks. So just to confirm I can't go back to the dealership I got it from? I got it from Coopers so does that mean all Coopers or just this branch etc

Or is this a red herring?

Red Herring. you can go back to coopers. you will be charged for the excess mileage if you decide to hand the car back to BMW/Mini. i.e if your part ex figure is lower than the GFV you would normally voluntary terminate and hand the car back to the manufacturer.

If you part exchange your car with the dealership you bought it from (or any dealership) then you wouldn't pay any excess mileage charges.

[daemon]

Stuperbulous said:

Red Herring. you can go back to coopers. you will be charged for the excess mileage if you decide to hand the car back to BMW/Mini. i.e if your part ex figure is lower than the GFV you would normally voluntary terminate and hand the car back to the manufacturer.

If you part exchange your car with the dealership you bought it from (or any dealership) then you wouldn't pay any excess mileage charges.

A couple of things :-

You hand the car back to the finance company, NOT BMW. BMW finance are a separate company.
You *could* VT the car with excess miles and not be charged for it. By doing a VT you are exercising your rights under the Consumer Credit Act to terminate the contract.