im on the ford options plan with 12.000 miles per year allowance, but the thing is i have to travel a 600 mile round trip most weekends so at the moment im 18 months into my 36 month contract and im already pushing 30k, im starting to worry about what to do, will i get charged more if i give in the car at the end with the more mileage without paying the final payment? or what do you guys suggest to do to get best value for my money

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You only have to pay if you give the car back.

Even with the extra mileage, I would guess that the car is worth more than the GMFV, then the dealer just pays it off and keeps the car to sell.

From what I have been told, hardly anyone just gives the car back. Always worth more to have it bought off you by the dealer and roll the difference in equity in to a new car.

well thats the thing though mate, with it being a petrol and only being 3 years old when it comes to the end of the contract, having around 60k on the clock its not going to be worth more than the 6600 final payment

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If you look at your terms, you should be able to work out how much more it is going to cost for the mileage you expect to go over?

Usually 6.0p per mile over the stated amount... So extrapolate that over x miles.. Eg. 100 miles = £6 , 1000 £60, 10000 £600!

Seems a lot when you look at the pence per mile but isn't too bad Tbf!

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So if you assume 60k vs 48k, that is only 12k and £720.

If it was me, I'd set up a standing order for £40 per month in to a savings account, then come the end of your term, you have £720 to pay the fee, or it may be cheaper to sell the car to the dealer.

Even if the dealer offers you £6k, with your extra £600 from the savings, you will be £120 up on just giving the car back and paying the fee.

You don't really loose out, as if the contract was originally set up for 20k miles per year, you would be paying more anyway.

Don't give the car back as you will be charged. Best thing to do is get the dealer to buy it back off you. If your GFV is £6600 that's what you will get even if it is over mileage. That's a far as the dealer told me when I did the ford options plan.

I was told that if the car is over its agreed mileage you'll be quoted a trade in price as the future value is based on a contract. If you breech the contract, i.e go over the agreed mileage so the GMFV won't be enforced.

That's what I took it as though. My mileage has already exceeded the full term contract and I'm only 16 months in haha

When I took mine out I had 12k PA as the agreed mileage (usually do around that many.. But so far I've done 6k in just under 5 months so I'll be a good few thousand over by the time I hand it back..

That said I was always planning to renew my ford for the Focus ST or another FiST if the new MK has been released, that way I won't get penalised and have a shiny new car to boot ;)

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the thing is im gonna have the 6600 final payment saved in time but i dont believe that a car with 60k miles on it will be worth that after 3 years, so im struggling what to do without losing too much

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You'll only get penalised if you plan on walking into the dealership and giving them the car back with the hope of just walking away.

If you plan in taking out another car or settling the amount for your current car then you won't be "charged" for having gone over your mileage. You'll either just get the trade in value with the current mileage if your getting another car. If your settling the balloon payment then you can ask for a reduced price as your mileage is higher than they expected. You may still have to pay more than what the car is technically worth though.

Double post due to phone having a psychological discrepancy...

im not really planning on getting another ford really unless i can get a really good deal on a focus st, im planning on moving on to an audi though. im off down the dealers on monday to service it so im gonna have a chat with a guy there and see what i can do

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