Help with Kia PCP excess mileage

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This topic contains 1 reply, has 2 voices, and was last updated by Stuart Masson Stuart Masson 7 months ago.

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  • #110115 Reply

    Brian

    I have a car with Kia on a PCP agreement. My mileage limit was 18,000 over 3 years, so 6,000 each year. I am half way through and already almost at 18,000.

    I was under the impression that exceeding mileage limit was not really an issue if i was to change my car for a new one after 3 years. At 14.9p per mile i am petrified i will need to pay thousands when the 3 years is up.

  • #110241 Reply
    Stuart Masson
    Stuart Masson
    Keymaster

    Hi Brian. If you give the car back to the finance company at the end of the agreement, they will charge you 14.9p for every mile (or £149 per 1,000 miles, if that’s easier to work out).

    If you sell the car either privately or as a part-exchange, you will have to pay the settlement figure (the balloon/GMFV) back to the finance company but you will not be charged anything else. For a complete explanation of your options at the end of a PCP, the article linked below should tell you all you need to know.
    Read about how PCP car finance works

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