Personal Contract Hire
Often referred to as Personal Leasing or PCH, this enables an individual to lease a vehicle for a fixed cost and period.
What is Personal Contract Hire ?
Typically abbreviated to PCH, this is a long term rental agreement with fixed payments for between 12 and 60 months. PCH is a hassle-free and popular way for individuals to enjoy driving a brand-new car without the long-term commitment of ownership.
The PCH leasing option covers a set mileage allowance, and at the end of the agreement, you simply return the vehicle with no concerns about depreciation or resale. PCH provides the flexibility to drive a desirable car without the responsibilities of ownership, offering convenience and cost-effectiveness.
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Advantages
- Flexible initial payment
- Fixed term contract
- Fixed mileage contract
- Fixed cost motoring
- Flexible profiles to suit you
- You only pay for the use of the vehicle
- At the end of your contract simply hand the vehicle back
- Option of including maintenance with the contract
- No depreciation or disposal risk
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Disadvantages
- Vehicle must be returned in a well maintained condition
- Early termination can be expensive
- You must have fully comprehensive vehicle insurance
- You will never own the vehicle