r/CarLeasingUK

So, I may have made a rather expensive mistake back in September 2024 when I signed up for a 4-year Personal Contract Hire (PCH) lease on a brand-new Hyundai IONIQ 5. 😅
I opted for a 12,000-mile annual allowance, thinking that would be plenty. Famous last words!
Between commuting to work, it being our only family car, and regular long-distance trips to see my daughter (that’s a whole different story deserving its own subreddit 🤷🏽‍♂️😂), I’ve already clocked up 42,100 miles in just over two years!
Here’s my situation:
● Car: Hyundai IONIQ 5
● Lease: 48 months (started September 2024)
● Mileage allowance: 12,000 miles/year (48,000 total)
● Current mileage: 42,100 miles
● Excess mileage charge: 9p per mile
● Early termination: Apparently 50% of the car’s value, which makes getting out of the lease rather painful.
The frustrating part is that I genuinely like the car. It’s been brilliant, and I’ve had no issues with it whatsoever.
However, at my current rate, I’m going to blow past the mileage allowance well before the lease ends, and I’d rather not get slapped with a hefty excess mileage bill.
So, what are my realistic options?
Has anyone been in a similar situation with a PCH lease? Is there any possibility of renegotiating the mileage allowance, extending the lease, buying the car outright, or finding another way out without taking a massive financial hit?
I’m not particularly keen on getting another car, especially as this one has been great. I just want to find the most financially sensible way forward.
Would really appreciate hearing from anyone who’s navigated something similar, particularly with Hyundai or UK leasing companies.
Any advice, experiences, or creative (legal!) solutions welcome. Cheers!

I have a Mazda via Santander due back in December. I'm told Manheim will collect, I've always had BCA pick up in the past.
Santander can't tell me how much I'd have to pay for some paint damage. BCA costs for alloy and some scratches weren't too bad. But that was them and that was four years ago.

What can I expect from Manheim? Or should I just call Chips Away?

I "locked" in a deal for Renault 4 from Stoneacre leasing around March with estimated delivery date of 3 months. After 3 months, they informed me EDD is Oct '26.

Now I called Renault directly and they say the car was matched and then unmatched by the dealership. I suspect this because the R4 prices like most EVs have skyrocketed recently and they were able to cash in on it but unfortunately I cant prove this.

Whenever I raise this as an issue with the dealership they always use the line on the contract that states 'provisional delivery dates are subject to changes by manufacturers and legislation.'. But Renault are saying it was not them/the manufacturers and was actually the dealership that unmatched the car.

I feel like I'm in a deadlock as the car is about £1200/year more than it was when being offered in March and Ive already waited all this time, AI suggested I contact Ombudsman but just wanted to query if this would be best route?

Hello I need to get a car. I’m a fairly new driver and have never owned my own vehicle. I have read through some post here and don’t understand a lot of the language. I have a budget of £300 per month max and would really like it something that has the least environmental impact possible but is still reliable (hybrid?). I would really appreciate any guidance and please feel free to patronise me - I’m pretty clueless. Thank you!

Update: thanks for all the helpful comments, feel much better informed now. I have narrowed down to 2 options and would be super grateful for any thoughts/opinions/or just a vote for either one!

1: Get a small loan and buy a cheap but reliable 1L engine used car with low mileage that I will then own (any recommendations for model etc gladly received). I don’t car about features or appearance at all - just cost of running and reliability.

2: NHS salary sacrifice lease before tax and NI on an EV. This is appealing in my circumstances as my salary increase next year to tip me into 40% tax band and I have both student and postgraduate loans. I also like the simplicity of insurance, tax and repairs being covered.

For context my commute is about 35miles each way about 4 days a week. Thank you again for all the advice, I appreciate the time and effort.

Not sure if this is the right subreddit to post this on but needed a bit of advice regarding purchase of a new car on PCP finance. Signed a PCP agreement with Volvo last week for a new car which was one of the existing new vehicles they already had in stock. Since then Volvo are now offering a £10000 finance contribution. When I bought the car last week this contribution was only £5000.

If I bought the same car now with the same deposit I put last week, my monthly payments would be significantly less or I would be able to get a car with a better trim level.

After a bit of googling it says you can cancel a car finance contract within 14 days - is that even after paying the initial deposit? Would Volvo be able to transfer the existing finance agreement to a new car or add the finance contribution to this existing car? Or am I just stuck with buying the car at the wrong time.

Thanks in advance