How to estimate your mileage for your car finance agreement

Attempting to work out how many miles you cover annually can initially seem daunting, but there are a few ways in which this can be done.

In many cases, when you're seeking car finance the estimate mileage you'll cover each year is taken into account. This is the case on Personal Contract Purchase (PCP) agreements, for example. Exceeding the stated annual mileage, which will be shown on your finance contract, will mean you incur charges for the additional miles.

One of the simplest methods is to take the number of miles you drive each day and multiply by the 365 days of the year. For example, a 50-mile round trip once per day equates to approximately 19,000 miles annually.

If you're not certain how many miles you cover per day, it's easy to find out. Drivers who make regular journeys to and from the same places can look up the distance online and multiply this by the number of times they travel.

You may also be able to discuss your driving habits and come up with a more accurate estimate by speaking with a finance specialist. They deal with a large number of applications every week and have plenty of experience in establishing mileage limits with motorists.

Whenever you need more advice on entering into a car finance agreement, please get in touch with any Lookers dealership.

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