New GTi time - help!

[p3asa]

Also remember if you do less than the agreed mileage you won't get the difference back.
So it may be more advantageous to estimate under and then pay the ppm over.

[Mk1Macca]

Interesting. So, say I had a PCP deal based on 10k a year, but at the end of the deal, I've done 15k a year.

GFV was agreed at £15k.

Do they then look at market value for a vehicle with the same mileage, and worst case, write off the £15k if you take a new deal on a new car? There wouldn't be extra to pay?

I'm guessing the usual idea of having equity in the car at trade in time, to use as deposit on the next one, only exists if you keep roughly within the agreed mileage?

[Guzzle]

If you decide to keep the vehicle at the end of the agreed term then you make the final payment (GMFV) and excess mileage isn't a factor.

The car will be worth what it is worth, if that is more than the GMFV then you will have the difference between the two (equity) towards your next vehicle. However you will forfeit this equity if you hand the vehicle back and walk away.

If the vehicle is worth less than the GMFV then you can walk away at the end of the term and simply pay for any excess mileage as per the terms of the contract.

[davyk31]

I am not thinking there is much equity left in anything now since the dieselgate scandal. I put 5k into my GTD deal, low miles at 7k a year, haven't got a valuation but at just over 3 years old I don't see much equity coming back which is all wrong given the sizeable deposit put in.

Lease next time seems the only option.