This is how my Blackhorse contract is worded (from Feb 18):-
"If you choose to return the goods at the end of the agreement and you exceed 40,833 miles you must pay us: if the excess miles are 4,999 or less 7.0 pence plus VAT per mile; if the excess is 5,000 miles or more 7.0 pence plus VAT per mile."
Previously it used to be advertised at 14.0 p + VAT after 5000 miles, but they changed it sometime between when I ordered the car and when it was delivered. I've no idea why they suddenly made it a flat rate, maybe some new legislation came into force?
The only possible catch I can see is if you are planning to put galactic mileage on the car, then you may get caught out by the fair wear and tear policy which appears to be quite strict. So you really need to look after the condition of the car if going way above the PCP contract mileage, although you could argue that the excess mileage charge should cover any extra wear and tear.
"If you choose to return the goods at the end of the agreement and you exceed 40,833 miles you must pay us: if the excess miles are 4,999 or less 7.0 pence plus VAT per mile; if the excess is 5,000 miles or more 7.0 pence plus VAT per mile."
Previously it used to be advertised at 14.0 p + VAT after 5000 miles, but they changed it sometime between when I ordered the car and when it was delivered. I've no idea why they suddenly made it a flat rate, maybe some new legislation came into force?
The only possible catch I can see is if you are planning to put galactic mileage on the car, then you may get caught out by the fair wear and tear policy which appears to be quite strict. So you really need to look after the condition of the car if going way above the PCP contract mileage, although you could argue that the excess mileage charge should cover any extra wear and tear.