Audi Q2 2023 financing and mileage
Discussion
Hello all - looking for some advice!
I have a finance deal with a new Audi Q2 and I'm paying on the basis of doing 10k miles per year. Unfortunately, as I come to the end of the first year it looks like I will have done 18k miles and I expect to do 15k next year. My question is - what is the best course of action here? Is it a) contact Audi and negotiate a new monthly payment on a more realistic mileage per annum, b) wait until the end of the deal (3 years) and hope that the extra mileage will not lower the value excessively 3) pay up the excess now! or 4) any other options? I"m grateful for any advice. Thank you.
I have a finance deal with a new Audi Q2 and I'm paying on the basis of doing 10k miles per year. Unfortunately, as I come to the end of the first year it looks like I will have done 18k miles and I expect to do 15k next year. My question is - what is the best course of action here? Is it a) contact Audi and negotiate a new monthly payment on a more realistic mileage per annum, b) wait until the end of the deal (3 years) and hope that the extra mileage will not lower the value excessively 3) pay up the excess now! or 4) any other options? I"m grateful for any advice. Thank you.
TL;DR - no, you don't need to do anything now.
If you plan to part exchange the car or keep it and pay the final payment, you don't need to do anything, at all. You can part exchange a car on finance at any time, just get a settlement.
If however you'd be looking to hand the car back at the end of the agreement, you will pay extra at that end/termination date, see finance agreement to find out VWFS excess mileage charge.
If you plan to part exchange the car or keep it and pay the final payment, you don't need to do anything, at all. You can part exchange a car on finance at any time, just get a settlement.
If however you'd be looking to hand the car back at the end of the agreement, you will pay extra at that end/termination date, see finance agreement to find out VWFS excess mileage charge.
So long as it's not a lease agreement, then you can relax.
A PCP agreement is the typical finance arrangement. While there will be a specified charge for those miles over an agreed total, in practice it's not a problem unless you wish hand the car back at the end of the agreement. There's no need to do anything now other than keep it serviced, and take time to work out the best tactics to maximise sale price at the end so that you can settle the remaining debt (often called final payment or balloon).
You can settle a PCP at any time before the end of the agreement, so long as you pay the remaining debt.
A PCP agreement is the typical finance arrangement. While there will be a specified charge for those miles over an agreed total, in practice it's not a problem unless you wish hand the car back at the end of the agreement. There's no need to do anything now other than keep it serviced, and take time to work out the best tactics to maximise sale price at the end so that you can settle the remaining debt (often called final payment or balloon).
You can settle a PCP at any time before the end of the agreement, so long as you pay the remaining debt.
drmike37 said:
What happens if it is a lease? I ask as I’m in a similar situation albeit with smaller numbers.
They just bill you for the additional miles at the rate set in the contract. VWFS like the make contact a couple of times a year for mileage updates, have you not received these letters (or emails)? If you are over mileage they will usually ask if you want to amend the contract reflective of the miles you are doing or just pay for excess miles at handback. Gassing Station | Audi, Seat, Skoda & VW | Top of Page | What's New | My Stuff