The problem with Park and Ride schemes is that a lot of the people who use them would have used public transport for the whole journey had the P+R scheme not existed. The result is more, rather than less, car journeys overall, although there is less congestion in the place it's a P+R for.
I'm pretty sure this would happen for one where you suggest - there's a lot of people who commute from the M4 corridor into London, and I'm sure a lot of them would love to be able to drive as far as that junction.
M25
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