Excess mileage charges will apply at the end of a Personal Contract Purchase (PCP), Personal Contract Hire (PCH) or Business Contract Hire (BCH) agreement where you have exceeded your agreed mileage limit. In such cases, a pence per mile charge will be applied to the number of miles you have driven above the allowance stated in your agreement documentation.
Example
Your agreed Annual mileage is 10,000 miles, giving an allowance of 36,000 miles for a 36 month agreement. Your excess mileage charge is 14.90p (excluding VAT). Therefore, you will be charged 14.9p for every extra mile driven over 36,000 miles.
Example of how much you may have to pay if you exceed the mileage allowance and wish to return the vehicle:
14.90p x 500 miles = £74.50(+VAT)
14.90p x 1,000 miles = £149.00(+VAT)
14.90p x 5,000 miles = £745.00(+VAT)
Should the excess mileage exceed 5,000 miles over the agreed mileage allowance, the rate per mile may increase.