Firstly, stop beating yourself up over it. Circumstances change, and most of us only have 20:20 vision when it's hindsight.

Unfortunately, I can't really help much beyond that. You need someone that understands these agreements and the law on them.

However, I've known a few people who've had PCP agreements and changes in circumstances - like your case. What they HAVE been able to do is roll out of an agreement and into another one early, with minimal fees.

The other possibility is just to run it for the full term, and then to pay the option final payment at the end of the agreement (thus avoiding any mileage charges).

Whats you charge per mile after 20,000 miles

If 5p then at 50,000 miles - the original 20,000 miles at say 5p mile is a total extra payment of 30,000 * £0.05 = £1500 - at your mileage doesn't sound tooo bad. If you bought something else you would pay more.I know some people that always lease cars knowing the mileage prediction will be way under and simply pay the excess. If you over estimate you just throwmoney away.

There also may be a termination clause - usually at half way through the agreement, check your small print although mileage charges will still apply - yet again these usually aren't too bad.

Doing 18,000 miles a year will cost you more money whatever you do.

Going forwards if this sort of mileage is long term you need to plan.

I have been doing a similar mileage myself for about 25 years and have learn't a lot over the years. I now aim for sub £1k capital costs by purchasing cheap new or nearly new cars - usually I wait for end of model deals. In 2005 I bought an 18 month old Skoda Superb 1.9pd for £8.5k and did just under 170k miles. Ten years later I've bought a 14 month old 1.4 tsi Superb(2014) for just over £10k that I'll try to keep for a long while - we shall see! I always plan to effectively thrown the old one away, if I get some money back - bonus time!

P.S. tyres another thing you need to keep an eye on - whatever you have now or in the future make sure you know the cost of the tyres and expected mileage. I targetted the Superb "S" as it is fitted with 205 55 R 16 - now only about £70 each for Michelins and I expect to get about two years out of a set. If I'd bought a higher model tyre price much much higher and you will get almost half the number of miles out of a set

Edited by Big John on 01/10/2015 at 20:18