Based on 6,000 miles per annum
With Personal Contract Purchase (PCP) you have the option after you have paid all of the regular monthly repayments to:
(1) Return the vehicle and not pay the Optional Final Repayment. In these examples if the vehicle has exceeded 24,500 miles, a charge of 4.8p (including VAT at 20%) will apply per excess mile. If the vehicle is in good condition (fair wear and tear accepted) and has not exceeded 24,500 miles you will have nothing further to pay.
(2) Pay the Optional Final Repayment to own the vehicle or
(3) Part exchange the vehicle subject to settlement of your existing finance agreement; new finance agreements are subject to status.