Voluntary termination

[iaind]

This is why I vastly over-estimated my mileage.

At minimum be realistic with it - agreeing to 10k miles when you know you're going to be doing more is stupid, it's people getting lured by OMGlow payments.

I wasn't sure if I'd be doing 20 or 25k when I got my Peugeot on PCP, I didnt see the point in overestimating it so I did it on 20k, figuring if I did go over it wouldnt be much. Yes the payments were a bit higher than some of the offers but it meant I could get out of it easily when I did

 

[xs2man]

At least we finally get to the bottom of why you have that wonderful 530d parked on the drive but keep trying to convince us how wonderful everyone thinks that old Seat you bought is and how you just prefer it so therefore use it for all the mileage

Not at all. I care not about the mileage I put on the car. I can easily afford the ppm charge as highlighted in my agreement, and it was set-up this way as it's cheaper overall to pay the mileage charge rather than the extra monthly payment. Although I didn't expect to do quite as many miles as I actually did (several cross-country trips to London didn't help there).

But that's not the reason why the Seat gets so much use. The reason for that is that the kids much prefer the Seat, and most of my driving is with the kids in the car. Plus the extra room the Seat gives me. And it drives so much better now it's got the remap on, and looks better with the wheels.

But that's why I've been looking at RS3's and S6's recently. Because the 530d is just parked up most of the week, and not even in the garage, just on the drive. So why bother having something sitting there depreciating that is barely used, because my other car is bigger and more economical (which is 2 of the 3 reasons for buying this particular car, it cannot compete on the comfort/performance aspect).

 

[[TW]Fox]

Not at all. I care not about the mileage I put on the car. I can easily afford the ppm charge as highlighted in my agreement, and it was set-up this way as it's cheaper overall to pay the mileage charge rather than the extra monthly payment. Although I didn't expect to do quite as many miles as I actually did (several cross-country trips to London didn't help there).

But that's not the reason why the Seat gets so much use. The reason for that is that the kids much prefer the Seat, and most of my driving is with the kids in the car. Plus the extra room the Seat gives me. And it drives so much better now it's got the remap on, and looks better with the wheels.

But that's why I've been looking at RS3's and S6's recently. Because the 530d is just parked up most of the week, and not even in the garage, just on the drive. So why bother having something sitting there depreciating that is barely used, because my other car is bigger and more economical (which is 2 of the 3 reasons for buying this particular car, it cannot compete on the comfort/performance aspect).

So you do 18k a year in a 530d that you only use at weekends?

What do you do, drive to London every weekend or something?

The kids must love sitting in the car for what is almost rep-level annual mileages, I hope they have a DVD system!

 

[xs2man]

No. I have only just got the Seat. I did 18k per year in it before the SEAT when it got used every day. Here is the last 10 fills for example.

58 23/11/2015 563.00 66.169 38.68 1.067
57 30/10/2015 582.00 68.001 38.91 1.099
56 16/10/2015 688.00 74.209 42.15 1.082
55 10/10/2015 491.00 56.001 39.86 1.069
54 07/10/2015 541.00 62.531 39.33 1.129
53 26/09/2015 566.00 64.072 40.16 1.077
52 21/09/2015 577.00 64.572 40.62 1.069
51 08/09/2015 594.00 64.999 41.54 1.077
50 29/08/2015 568.00 65.999 39.12 1.099
49 13/08/2015 467.00 53.011 40.05 1.089

So that's the last 10 fills, date, miles, litres, fuel consumption, price p/l. You can clearly see that after October (when I last went to London, and after which the Seat was properly on the road), I have only filled the 530d once. But that was 9 fills between mid-August to end of October. I think I've put 5 or 6 fills (I think the wife has a fill I haven't added yet) on the Alhambra since October though, and is due another one in 100 miles or so... So that's somewhere around 3,000 miles in that.

5 09/12/2015 555.00 63.220 39.91 1.049
21/11/2015 Remap 165.00
4 17/11/2015 321.00 38.430 37.97 1.067
3 06/11/2015 565.30 64.000 40.15 1.067
2 21/10/2015 563.50 60.021 42.68 1.067
1 10/10/2015 520.00 59.999 39.40 1.099

They do MUCH prefer sitting in the Alhambra over the 5 series though. The oldest (who is 3) does have a tablet thing. But no, they don't have DVD systems. Although I am toying with the idea for the back of the Alhambra now they are getting a bit older.

As for what I do to do all these miles? I'm not entirely sure. My work is 50 miles each way, but I don't go in every day. But in week long stints. So maybe one or two weeks a month (usually only one week, or a few days only) I'll do the commute, but recently that's been in the BMW rather than whatever second car we have had. We are around 50-60 mile round trip from the nearest city. Around 250 mile round trip from the wifes grand-mother, who gets a visit at least once a month. Around 200 mile round trip to Ikea / Costco, which happens at least once a month. And the wife like to go do things with the kids, which can be anywhere from 20-200 miles a day.

 

[[TW]Fox]

I'm amazed the 3 year old has a preference

 

[Cyanide]

I'm amazed the 3 year old has a preference

I have a 3 year old... I know how this pans out...

"Daddy's arguing with some people on the internets, I'll give you a chocolate bar if you agree with me"

 

[MrMoonX]

they will pro-rate the mileage allowance at point of termination on PCP.

The best thing to do is trade it in, get dealer to clear finance and get something else

 

[xs2man]

I'm amazed the 3 year old has a preference

Really? Amazed that a 3 year old prefers the higher seating position that allows her more outward visibility? As well as having her own "table".

I have a 3 year old... I know how this pans out...

"Daddy's arguing with some people on the internets, I'll give you a chocolate bar if you agree with me"

Again, I figured my 3 year old was just normal for her age. Knowing what she likes and dislikes, and being able to make up her own mind, at least with regards to simple things like which car she prefers to be driven in, or which cereal she prefers. Maybe she is special afterall?

 

[Richie]

The Consumer Credit Act 1974 Part 7 Section 100 disagrees with you.

I'm glad you ended your post with:

I'm not a lawyer, ymmv etc etc.

There is no mileage penalties for standard HP/Conditional Sale agreements where, once all payments have been made, the ownership of the car transfers to you but PCP is different. There is absolutely no chance they will allow someone to VT a PCP agreement without excess charges if that person has vastly exceeded the mileage allowance on a pro-rated basis.


Once the OP goes and reads his agreement, he can post back up and let us know....

 

[DRZ]

I'm glad you ended your post with:



There is no mileage penalties for standard HP/Conditional Sale agreements where, once all payments have been made, the ownership of the car transfers to you but PCP is different. There is absolutely no chance they will allow someone to VT a PCP agreement without excess charges if that person has vastly exceeded the mileage allowance on a pro-rated basis.


Once the OP goes and reads his agreement, he can post back up and let us know....

PCP agreements are not different in CCA terms though - that's the point.

There are plenty of anecdotes out there on forums like MSE and CAG where people have not paid any excess mileage charges when VTing regulated PCP agreements.

I don't believe a precedent has been set and I would imagine that in the fullness of time one will be set that says the charges are reasonable and come under the Section 100 provisions. Until then, the position is entirely negotiable and if I were ever in this position I would be unequivocal about it with the finance company.