PCP excess mileage rate at 8.05pence

[jbk]

Never financed before, was just wondering whether that rate is average? And do they vary much between finance provider I wonder?

[R2x]

Excess mileage cost per mile depends on the car.

Prestige cars are often in excess of 30 pence per mile.

Entry level superminis may be 5 pence per mile.

The average I have seen for mid range cars is around 12 pence per mile.

[alorotom]

My octavia is 3.6ppm (10k p/a - 3yr lease)

The golf that recently went back was 17ppm (iirc) (5k p/a - 2yr lease)

Varies wildly

[jbk]

Ah, of course it depends on the depreciation value of the car, idiot I am 🙄.

This was 8.05ppm on a 128ti.

[Tomo1971]

Varies between brand, models, brokers.

Octavia - 8.6ppm VWFS 6.05ppm with Alphabet, 13ppm with Lex (ish)

Seat Leon 5ppm.....

[Mandat]

jbk said:

Never financed before, was just wondering whether that rate is average? And do they vary much between finance provider I wonder?

Don't forget that with a PCP the excess mileage rate is irrelevant unless you are intending on handing the car back to the finance company.

Part exchanging or paying off the finance won't invoke the excess charges.

Some will also argue that VT'ing also won't invoke the excess charges. YMMV.

[jules_s]

Sometimes cheaper to pay the excess vs increased payments