This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
MileageLimit With a PCP deal, you’ll be given a mileagelimit —the maximum number of miles you can drive each year. If you go over this, you’ll face extra charges, so it’s important to choose a realistic limit based on your driving habits.
Mileage charges: Most short-term car leases come with a mileagelimit. You will be charged an additional fee per mile if you exceed the mileagelimit. The costs of a short-term car lease in the UK can vary greatly depending on the type of car you choose, the length of your lease, and your mileage.
Factor in insurance costs, maintenance, fuel or charging expenses, and depreciation to understand the total cost over time. Understand the terms, including mileagelimits and wear-and-tear policies. Consider Total Cost of Ownership: Look beyond the sticker price. Understanding Financing Options 1.
MileageLimits: Lease agreements typically have mileagelimits (e.g., Exceeding these limits can result in significant penalties. If you often exceed mileagelimits or require modifications, consider purchasing instead. Remember to account for additional expenses, such as insurance and maintenance.
Given the sheer pleasure of enjoying this £80,000 car for a few days with no mileagelimit, I don’t think that’s bad – certainly better value than an ‘experience’ gift involving a few laps of a race track, and if split between people enjoying a break together, better value still. A second person is insured to drive at no extra charge.
Depending on where you live, specific mileagelimits could also be an important feature when looking at the overall cost of a used car. AAMI Insurance stated on its website deducting essential expenses such as rent/mortgage, utility bills and groceries from your salary is the first step in calculating your financial parameters.
No restrictions : You won’t have any mileagelimits or conditions to worry about. Mileagelimits : PCP often comes with mileage restrictions, and going over can lead to extra fees. Additional costs : Don’t forget about insurance, maintenance, fuel, and road tax.
Lease terms may vary, encompassing mileagelimit, specific vehicle models, geographical locations, employment history, and credit scores. Stay updated on new leasing offers, as limited dealership stock may affect the availability of certain trims. This includes maintenance costs, insurance requirements, and potential penalties.
Insurance Changes: Owning the vehicle might mean a change in insurance premiums, which can alter your monthly costs. Bye-Bye Mileage and Wear Penalties Many lease agreements impose penalties for exceeding mileagelimits or for excessive wear and tear.
New car warranties usually last for a specific time or mileagelimit —whichever comes first. You’ll need car insurance for those situations. A new car warranty is a type of guarantee provided by the manufacturer to cover certain repairs and replacements that might be necessary due to defects or faults in the vehicle.
MileageLimitations Leased vehicles often come with mileage restrictions (commonly 10,000-15,000 miles per year): Overage Fees: Exceeding the allowed mileage can result in expensive penalties, which could negate the cost benefits of leasing. Determine what aligns best with your needs and budget and proceed accordingly.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content