PCP options - wait or VT?

[Wind_Co]

I'm currently into the last 9-10 months of a PCP with Audi but have blown the mileage cap already - originally set at 62.5k but already over 75k miles. This was due to a change in job meaning a longer commute. As it stands, the car is worth less than the settlement but if I wait until the end of the PCP I reckon I'll still owe a big chunk in excess mileage and I don't expect the value of car to be greater than the settlement.

I'm potentially looking to change sooner rather than later and toying with the idea of VT rather than P/X and having to settle the difference in the PCP.

Any thoughts?

Thanks

[anonymous-user]

Depending on your position you can VT for free on the basis you have not gone over the pro rata mileage, which you have.

So I imagine there would be some payment involved. I would check this with Audi, but I was considering VT'ing my audi as I wanted something else. They told me I could as long as I paid a small delta (I have longer left than you) and had not gone over my pro rata mileage.

Try to work out the different options and what the cost is going to be between VT, Part ex and paid off with private sale. You could always discuss changing the terms too by increasing mileage. Either way you are in a weak position I think

[abzmike]

I VTd my BMW in February 4 months early and had to pay the pro-rate mileage up until the end of the full term. Factor this into your calculations if appropriate.