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Personal Contract Hire

Personal contract hire, otherwise known as personal leasing or PCH, gives you the opportunity to drive a brand-new vehicle.

It works a lot like a long-term rental agreement, you choose the make, model and add your extras then pay “rent” on the vehicle until the end of the contract, you then return the car to the finance company and let them worry about any depreciation.

Leasing is available to all financially eligible drivers and not just businesses as what was commonly thought.

Key features of Personal Leasing

  • Fixed monthly rentals cover the rental of the vehicle, including maintenance options if chosen when taking your leasing.
  • Fixed monthly rentals for the duration of the lease, making budget planning easier
  • Flexible payments options
  • No risk of depreciation or on disposal costs
  • Driving a new and upmarket car regularly
  • Full warranty just like getting a car from a dealership

Considerations for Personal Leasing

  • You won’t own the car at the end of the lease, on occasion you can request a buy price, but unlikely.
  • Vehicle must be insured with full comprehensive cover
  • Early termination can be expensive
  • If you go over your estimated mileage you will have to a “Pence Per Over Mile” charge, although this is normally between 5-10 pence per over mile, it is worth considering when looking at leasing

What happens at the end of your lease?

At the end of the lease, the vehicle is returned to the leasing provider, our renewals and customer services team will help you through this process, but this does mean you are free to start looking at your next car, with no outstanding finance obligation.

Our renewals team will get in contact with you once you are 6 months from the end of your contract.

At the end of the contract the leasing provider will send a representative out to inspect the vehicle prior to collection, it will be assessed in line with the BVRLA fair wear and tear guidelines. Damages that fall outside of the guidelines will be deemed chargeable by the leasing provider. You can visit the fair wear and tear guide here.