# Amending PCP mileage allowance



## Del-GTi

Anyone done this? 

I was already close to reaching my annual mileage allowance but now since Covid-19, we’ve had to disband our carpool for the time being. This means I’m definitely going to be doing more miles. 

I contacted the finance company who said this wasn’t permitted. Fair enough.

Just seems a bit wrong that if someone knows they are going to exceed the mileage allowance, something could be done to prevent a potential penalty payment at the end of the agreement, I.e pay more per month.

I know the mileage won’t really matter if I end up taking another car on pcp as dealers don’t really care as long as you’re buying something else from them - but I’m having second thoughts about being stuck in the endless pcp loop. So if I want to walk away I’ll definitely have a payment to make.


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## Kerr

I've seen plenty of other people increase their mileage allowance before. I've also read people saying that the increase in monthly payment is worse that the penalty cost of extra miles. Might be better to just save the cash in case. 

Some car brands make the GFMV close to the real trade in value. I wouldn't bet that many of them will be trade in and move to new deal with no cost anymore. More cars will be going back to the finance companies.


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## andy665

Del-GTi said:


> .
> 
> I know the mileage won't really matter if I end up taking another car on pcp as dealers don't really care as long as you're buying something else from them


They won't care as long as the GMFV and excess mileage charge is less than the cars actual value to them.

The dealer does not have to take your car, does not have to offer above GMFV, the contract is between you and the finance house and the dealer has nothing to do with it.

As Kerr has already said, it may work out cheaper paying the excess mileage at the end than if you had been able to increase your mileage allowance and pay extra per month - I know several people who have deliberately taken out PCPs at the lowest mileage band knowing they will do considerably more miles but calculated paying the excess mileage is cheaper than selecting and paying for the most represenative mileage option


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## TakDetails

I contacted VWFS when I wanted it done and they said this can only be done before collection.

I was amending to increase mileage... guess they didn’t want my money

Haven’t really worked out if going over my allowance would be better or not than paying extra.. which I can’t anyway.

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## [email protected]

normally the penalty of the few pence per mile will still be cheaper than amending your deal.


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## JordanE

Yes I have. 

Rang Bmw finance. Said I want to increase my mileage. 
They recalculated the end payment and monthlies. Which was like £5 extra a month. 
Your payments will change and so will the GFV, but the end date doesn’t. 

Be careful. If you want to VT your essentially signing a new contract. So the. VT period changes.


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## JordanE

Also , it worked out no different in money to paying it monthly now, or leaving it to the end of the PCP. 

I never got to to the end as I traded in early so the value they gave me was what I was expecting. 

It was all very clear 


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## Del-GTi

Cheers for the comments guys. I had a feeling it was possible as I was sure I’d read about others doing it. 

My excess charge is 8p per mile, so 5k miles would be a £400 charge.


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