What is Personal Contract Hire (PCH)?

Personal Contract Hire (PCH) is a rapidly growing way for individuals to acquire a new personal lease vehicle. With PCH you never actually own the vehicle, you simply hand it back at the end of the leasing agreement.  The benefits of PCH include low fixed monthly costs and a smaller initial payment which is usually the equivalent of three, six or nine monthly payments. 

The payments on a PCH agreement tend to be lower than other finance methods as you are only paying an initial payment plus a monthly rental, and not paying to own the vehicle.

Advantages Of Personal Contract Hire (PCH):

  • Low initial payment and fixed monthly rentals for the term of the lease
  • Flexible options to meet your budget and driving requirements
  • No used car to worry about appreciation or sell at the end of the agreement
  • High value vehicles are often much more affordable on a personal lease, compared to purchasing them
  • Maintenance packages with monthly payments spread the cost of servicing and repairs
  • Road tax is included in the monthly costs
  • Manufacturers’ warranties apply

Considerations For Personal Contract Hire (PCH):

  • The vehicle must be maintained in accordance with the manufacturer’s requirements
  • At the end of the term, the vehicle must be returned in line with the lease company’s Fair Wear and Tear policy.
  • If you exceed your agreed mileage, a charge will apply
  • There is no option to purchase the vehicle, it must be returned
  • It is your responsibility to insure the car with fully comprehensive cover

If you would like a PCH quote or simply want to know more about leasing, get in touch with our friendly and professional team today.