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I got lots really good advice when ending my PCP , I have to say I would never do another one , I have been asked by a friend for advice , She is at the end of a 3 year PCP term , The issue is she has gone a huge amount over the Milage , Hard to believe but 150,000 miles over ! and whilst its hard to be sympathetic im trying to find out her best option. is to just buy it at the Balloon payment its runs well and has been serviced and maintained well mechanicaly , The issue she has are Milage Penallty would exceed the final payment is her liability capped at the final payment amount ? The car has a fair amount of damage to panels etc and with the milage is not worth the final payment not even a fraction of it . Im try to advise her best options , Ive said she can't really expect the company to do nothing as its so far over the agreed milage , the car will be worth little or nothing at auction due to the milage , If she just hands it back at the end in a weeks time will she be liable for the difference in value against sale at auction which has been suggested by collection agent ? (This Value s not easily determined in advance but clearly its not gonna be worth much ( 240K miles on it ) and there are some scratched on panels etc , The Car will be 6 years old soon it had 55k on when she got it .I feel sympathetic as when I sent my car back having been convinced to pay a higher milage (so i had money in it at then end which was not the case ! ) than I was doing I certainly could not claim for a refund on lower miles one rule for one another for purchaser! The dealer was well aware of her huge Milage as she already had vehicle the swapped after three months into a PCP so could see the huge milage she was doing but convinced her to keep payment low , In my opinion she should never have been offered a PCP agreement. but what's her best way to exit this as its a bit of a mess granted mostly through Naivety any suggestions ?
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