BMW PCP Milage Question
Discussion
Hi all,
Recently got a nice 2019 plate Shadow Edition 116i. I love it, and it was a great price for all its features compared to when new, was an ex demonstrator / show room vehicle and only had 4500 miles on the clock. I took it out on PCP (4 years) with a 15,000 mile limit. I generally only do around 10,000 so this was already allowing some fat in case I did more on the unexpected journey.
I'm now looking at maybe moving further away from work based on financial viability of rent prices, which would potentially double my commute milage while keeping the time to drive to work the same, all while potentially saving me £500 a month (moving into a place with my other half -- two income instead of one yada yada).
Firstly... my overage on miles is about 6.51p per mile. If I did 22,000 miles a year instead of 15,000 that's obviously 7,000 miles more a year at a cost of £456 per annum or £40 ish a month. Those types of milages figures aren't to difficult for me to put away each month on my current salary, however my question relates to when they're due..
I have seen on here a couple of times that overage isn't an issue unless I walk away and decide to not continue after the PCP term in which case over 4 years of that much overage I'll owe a few grand. But, say in if in 3 years I go and swap the car, which we all know the dealers will want me to do, and it has 70,000 miles on the clock vs 45,000.. what's their view going to be? Will it not be a problem for them so long as I commit to a newer PCP agreement?
This stuff isn't hugely explained in their contracts which is annoying!
Before any forum keyboard warriors all bite my head off, I haven't moved yet. It's all part of the sensible financial planning I'm doing on its' viability. This car does 50mpg average on the motorway vs my last 1 series's 30mpg so that's already worth the car in itself.
Thanks in advance
Recently got a nice 2019 plate Shadow Edition 116i. I love it, and it was a great price for all its features compared to when new, was an ex demonstrator / show room vehicle and only had 4500 miles on the clock. I took it out on PCP (4 years) with a 15,000 mile limit. I generally only do around 10,000 so this was already allowing some fat in case I did more on the unexpected journey.
I'm now looking at maybe moving further away from work based on financial viability of rent prices, which would potentially double my commute milage while keeping the time to drive to work the same, all while potentially saving me £500 a month (moving into a place with my other half -- two income instead of one yada yada).
Firstly... my overage on miles is about 6.51p per mile. If I did 22,000 miles a year instead of 15,000 that's obviously 7,000 miles more a year at a cost of £456 per annum or £40 ish a month. Those types of milages figures aren't to difficult for me to put away each month on my current salary, however my question relates to when they're due..
I have seen on here a couple of times that overage isn't an issue unless I walk away and decide to not continue after the PCP term in which case over 4 years of that much overage I'll owe a few grand. But, say in if in 3 years I go and swap the car, which we all know the dealers will want me to do, and it has 70,000 miles on the clock vs 45,000.. what's their view going to be? Will it not be a problem for them so long as I commit to a newer PCP agreement?
This stuff isn't hugely explained in their contracts which is annoying!
Before any forum keyboard warriors all bite my head off, I haven't moved yet. It's all part of the sensible financial planning I'm doing on its' viability. This car does 50mpg average on the motorway vs my last 1 series's 30mpg so that's already worth the car in itself.
Thanks in advance
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