I notice that you arranged the finance through your dealer. Unfortunately they are always quick to focus on the positive aspects of PCP but overlook explaining the downsides. Clearly having the ability to hand the car back if the car isn't worth the final optional payment is a great advantage as is the ability to buy the car if the value is much higher than the final figure.

It's a win win situation for you. However, when you return the car to the dealer or it is picked up by the finance company the car is expected to be below the contracted mileage and be in reasonable condition for its age and mileage. I've talked about end of contract condition in the past, and as your question was about the excess mileage, I'll simply deal with that. I can see from the agreement that you have contracted to cover 10,000 miles per annum (30,000 miles in total) and you expect to cover 34,000 when the car is returned.

Had you decided to make the final payment and keep the car you would have paid no excess mileage charge but if you hand the car back you will be paying, according to the contract, 6.7 pence per mile. You will therefore be invoiced, after the car has been returned, 4,000 excess miles x 6.7 pence per mile = £268.00. That is all you will pay for the excess miles but for other readers, always check your agreement before signing as you may have to pay more if you exceed 10% of the agreed mileage.

You can be expected to pay up to double the rate for the first 10% over. If this were the case you would have paid 3,000 miles at 6.7 pence = £201.00 and 1,000 miles at 13.4 pence = £134.00 that would result in a total charge of £335 so make sure that you check your agreement.