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      02-14-2013, 12:44 PM   #2
neilwilliams
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United Kingdom
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Drives: F20 116iSE
Join Date: Aug 2012
Location: UK

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Firstly congratulations on the new job.

Does the PCP have any early exit fee? Considering the higher first year depreciation you may find you owe more than the car is worth and have to make up the difference.

The other question to consider is where you are currently on your mileage - are you under where the contract expects you to be? If you are, how long until your mileage would match the expected mileage and would that period of time help with saving?

Finally is it possible to simply renegotiate the PCP to allow for the higher mileage and spread the extra cost over the remainder of the period?

Overall I think I'd be tempted to keep the current car and put a little money aside each month to cover the extra mileage cost.

I suspect the real answer is to get the figures and make your mind up with them. Remember to factor in the fuel costs for your expected mileage.
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