Personal Leasing

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Personal contract hire (also known as personal leasing) is a long-term vehicle rental agreement. It is a solution for private individuals and is becoming an increasingly popular alternative to purchasing brand new vehicles among car users.


The key features of personal contract hire (PCH)

  • PCH is the most common form of private car leasing and growing
  • Fixed monthly rentals cover the rental of the vehicle, plus any maintenance options if chosen
  • The monthly rentals are calculated by taking the following into consideration:
    • The cost of the vehicle
    • The contract period
    • Anticipated residual value of the vehicle (how much the vehicle is likely to be worth at the end of the contract)
    • Mileage allowance (as chosen by you before the start of your contract)
    • Any additional options, such as a maintenance contract
  • You never technically own the vehicle – it remains the property of the finance company. However, this means you do not need to worry about the vehicle’s depreciating value

The key benefits of PCH

  • Low initial rental
  • Fixed rentals for the whole package, making budget planning easier
  • Choose a term and mileage to meet your needs
  • Maintenance of vehicles can be included in the monthly fees, spreading the cost
  • Allows you to use a vehicle that might otherwise be unaffordable to buy
  • You do not need to worry about depreciation or disposal at the end of the agreement

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