[ciscopete822]

Hi All,

I am wondering if lease companies are doing any problems when lease is finished and car exceeds mileage limit.

My deal is 10k pa. After that :
0 - 3000 miles 12p/mile
>3000 - 16p/mile

Lets assume i have done 24999 miles:

final payment 3000 x 0.12 = 360
1999 x 0.16 = 319
Total = 679

Is that correct? i went through my agreement carefully but there is nothing else there (hidden costs). Whats your experience?

Many Thanks

[....,,,,..,,..]

There is also vehicle condition, there is a code of practice for that and must be road legal (tyres n tax).

I believe that's about it really other than if you hand back early or if you have to cancel.

[Steve C]

Check whether the mileage rate quoted includes VAT.

[ciscopete822]

Originally Posted by Steve C

Check whether the mileage rate quoted includes VAT.

Yep. VAT is incl.

Additionally it says:

[Mattt1]

0?

[teaston]

That seems quite expensive! My contract with Tilsun is 9.5p per mile over.

The mileage you've mentioned would be £204 less with Tilsun.

[Spoonhead]

Mines just 6p a mile, but it's a company lease. And I think + VAT.

[ZigmundUK]

Originally Posted by ciscopete822

Hi All,

I am wondering if lease companies are doing any problems when lease is finished and car exceeds mileage limit.

My deal is 10k pa. After that :
0 - 3000 miles 12p/mile
>3000 - 16p/mile

Lets assume i have done 24999 miles:

final payment 3000 x 0.12 = 360
1999 x 0.16 = 319
Total = 679

Is that correct? i went through my agreement carefully but there is nothing else there (hidden costs). Whats your experience?

Many Thanks

How far into the lease are you. My guys told me that if you reckon you're gonna blow it it's better to call them and get a renewed monthly when you cross the year mark. Always steeper after handing back. But it's my first lease so no experience yet...

[Proftinkerpot]

Those mileage rates are very high. From memory the BMW pcp rates are under £70 per 1000 miles.

[M4dski11z]

Your ppm does seem high. The general rule with leasing is to take out a lower amount than you plan to use, as it always cheaper to pay the ppm charge at the end, than to purchase say, 20k a year. Of course this depends on the ppm charge. My Qashqai is only 6p a mile, that's £60 per 1000 miles. I couldn't lease the mileage that cheap. My 335d is 10p. Even at £100 per 1000 that's still pretty cheap. Iirc it was an extra £20 a month for an additional 2k a year so it still works out slightly cheaper to pay per mile at the end.