PCP excess mileage

[senwar]

Never had PCP before until getting my CT. Took one out with mileage allowance of 12000, excess mileage 17.3p. I've done just shy of 7000 miles in just under 6 months but as am trading in it doesn't seem to be an issue.

On the demo I'm buying, I've been given quotes for 10000 and 12000 and there's £45 per month difference on a 30 month PCP. However, the quote for 10000 miles says a maximum of 27200 and the 12000, 32200. This doesn't calculate right - would expect 25000 for 10000 or 30000 for 12000? Any ideas

Using those figures, if I did the higher of the two but only took a contract for 10000 per annum, I'd do 5000 extra miles over the term, which at 17.3p excess would cost me £865 extra. However, if I take out a 12000 contract it would cost £1350 over the term (£45x30 months) which obviously leads to taking the lower mileage allowance and paying excess - and I doubt that would matter if trading in?

Am i missing something?

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[W1NGE]

Never had PCP before until getting my CT. Took one out with mileage allowance of 12000, excess mileage 17.3p. I've done just shy of 7000 miles in just under 6 months but as am trading in it doesn't seem to be an issue.

On the demo I'm buying, I've been given quotes for 10000 and 12000 and there's £45 per month difference on a 30 month PCP. However, the quote for 10000 miles says a maximum of 27200 and the 12000, 32200. This doesn't calculate right - would expect 25000 for 10000 or 30000 for 12000? Any ideas

Using those figures, if I did the higher of the two but only took a contract for 10000 per annum, I'd do 5000 extra miles over the term, which at 17.3p excess would cost me £865 extra. However, if I take out a 12000 contract it would cost £1350 over the term (£45x30 months) which obviously leads to taking the lower mileage allowance and paying excess - and I doubt that would matter if trading in?

Am i missing something?

If you stick with Porsche on each replacement cycle you can forget the mileage excess as it will get waived and can be a useful bargaining position. Ask your dealer to confirm of course.

The excess calculation you are making doesn't factor in depreciation over the same period due to the mileage differential etc.

 

[senwar]

If you stick with Porsche on each replacement cycle you can forget the mileage excess as it will get waived and can be a useful bargaining position. Ask your dealer to confirm of course.

The excess calculation you are making doesn't factor in depreciation over the same period due to the mileage differential etc.

Thank you!! That makes a lot of sense as know the value of my Velar was hit due to higher than average mileage (owned that, not pcp so felt the hit as well!) and I’d not thought of that.

I suspect I’ll go over even if I do 12000 so may just stick with 10000 and lower payments then and chance the luck. Whilst a while away I could see me trading in for the Macan EV (which was the plan after the CT) so hopefully as you say it won’t be an issue as such. Will check with the dealer though. They haven’t impeded me on being quite a bit over expected currently.

Thanks again

 

[Boss Hogg]

I had the same scenario 3 years ago so took the cheaper, lower milage, option and will pay the excess mileage. I queried it at the time and they said "it happens sometimes".

 

[Ross]

Take the lower unless you are SURE you will do the mileage.
I am handing back with 2000 excess miles and paying £340.
The next block up would have given me 12,000 more miles and cost much more than £15 a month.
I had a mate with a big commute who took a 15,000 mile a year deal for 3 years.
Lost his job and got another within walking distance of his home. Cost him thousands.

 

[senwar]

Take the lower unless you are SURE you will do the mileage.
I am handing back with 2000 excess miles and paying £340.
The next block up would have given me 12,000 more miles and cost much more than £15 a month.
I had a mate with a big commute who took a 15,000 mile a year deal for 3 years.
Lost his job and got another within walking distance of his home. Cost him thousands.

Ooh crikey. That must have been sickening for him although also great to be close to home!

yeah going to do that for definite. I do feel I’ll do the extra miles but will stick a bit extra in my own account and pay any excess if necessary. Hopefully won’t be an issue come trade in time anyway.

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