PCP upping mileage

[edstrom76]

As above, I'm 24 months in to a 36 month PCP agreement and may need to alter the annual mileage (currently10k) in a month or two.

What is the process and is there anything in particular I need to consider?

Would GFV stay the same?

What's the extra charge per mile?

Thanks in advance.

 

[Red C220]

I'm not sure you can alter it, it would have been fixed at the beginning of your agreement, which will also state how many pennies per mile your over mileage charge will be.

 

[edstrom76]

Hmm I felt sure you could. There's an faq on it here, I'll ring them tomorrow: http://www2.mercedes-benz.co.uk/con..._finance_customers/manage_your_contract.html#

 

[Markjames]

You can change it, I changed mine from 12000 to 16000 11 months into a3 year PCP due to a change in work place. Future value goes down by around same amount extra you pay over the remaining months. Mine was a year ago so can't remember how much it was per mile but my monthly payment went up by around £35.

 

[dozypillock]

I'm not sure you can alter it, it would have been fixed at the beginning of your agreement, which will also state how many pennies per mile your over mileage charge will be.

I read something on here (or the other one) recently about people having mileages "adjusted" for this very problem. Not sure you would get away with it, as it seems something is always stored centrally somewhere. I know my diagnosis software can supposedly "correct" mileage, but never tried it, as it is probably illegal.

Neil

 

[sallison1504]

To adjust the miles recorded on the car to deceive the Finance company is absolutely illegal!

 

[Markjames]

Think there are two different conversations going on here, believe the op is talking about the annual milage allowance in the PCP agreement.

 

[edstrom76]

Not sure how this thread veered off towards clocking, perhaps I was being unclear.

To confirm, I'm looking to up the stated mileage as part of my PCP agreement (currently 10k/year).

The reason being, I've applied for a job interview for which I went for an interview yesterday. If I'm successful, my daily return commute would almost double.

 

[stevehg]

Not sure how this thread veered off towards clocking, perhaps I was being unclear.

It seems that dozypillock has a name to live up to

A quick call to MB finance should give you all the numbers you need to do a quick calc and see if it's worth it or not compared to extra mileage fee. All of this is only relevant if you hand it back or it's worth less than GFV. If you part ex or sell for higher than settlement figure, you don't have to worry about it.

Cheers

Steve

 

[sallison1504]

Not sure how this thread veered off towards clocking, perhaps I was being unclear. To confirm, I'm looking to up the stated mileage as part of my PCP agreement (currently 10k/year). The reason being, I've applied for a job interview for which I went for an interview yesterday. If I'm successful, my daily return commute would almost double.

Dozy pollock suggested a solution to the problem the OP presented. Said solution was actually illegal lol.

 

[edstrom76]

Phoned up to check, it can be done and they are sending me a quote based on 10k>20k.

Penalty for going over stated annual mileage is 11p/mile, which I suspect the quote will be based on.

 

[Red C220]

Phoned up to check, it can be done and they are sending me a quote based on 10k>20k.

Penalty for going over stated annual mileage is 11p/mile, which I suspect the quote will be based on.

That's good to know, I always thought these were set in stone.

 

[Dieselman]

You have always been able to change the mileage a PCP is set to, it's normally cheaper than the excess mileage charge.
They will adjust downwards as well as up.