A GUIDE TO PERSONAL CONTRACT HIRE (PCH)
Personal Contract Hire (PCH) is a car lease that allows you to drive a new vehicle over an agreed period of time and mileage. This gives you cost-effective access to new vehicles without the large drop in value normally associated with owning a new vehicle outright. You also have the option to include vehicle service, maintenance and repairs in a fully maintained lease agreement, which means you can budget predictably for all your motoring costs.
At the end of your personal contract hire agreement, you will need to return the vehicle to the finance company. There is no option to purchase the vehicle at the end of your term but you can simply replace it with another one. The vehicle should be returned to the leasing company in a condition that meets the BVRLA ‘Fair wear and tear’ guidelines, otherwise charges may be incurred.
So what are the benefits of personal contract hire?
- Drive a new vehicle on low monthly repayments.
- Flexible contract terms ranging from 24 to 60 months.
- Return the vehicle at the end of your contract.
- Monthly repayments that are fixed and will never change making it easier to budget (please note that any changes to VAT are out with our control and may affect your rental).
- The hassle of having to sell the car is removed.
- Reduced risk from losing money on the car’s value due to depreciation.
And what are the potential risks you face?
- If the vehicle is returned with damage that goes beyond established industry guidelines – known as BVRLA Fair Wear and Tear – you may incur charges to repair that damage.
- If you terminate the lease early, you may be liable to pay an early termination fee.
- If you have driven the vehicle beyond the agreed mileage limit, you will be charged an excess mileage rate which is outlined in your agreement. Mileage limits cannot be amended at any stage during the contract.
What does PCH include?
- Road Tax is included throughout the duration of the contract.
- Complete support and guidance throughout your time with us.
- Fully bespoke contract, term and mileage – discussed, developed and tailored to your individual needs.
- A comprehensive vehicle maintenance package (if selected as part of the contract) including all servicing and maintenance.
Am I eligible for PCH?
There are certain criteria points which need to be met in order to qualify for a personal car lease contract:
- You must be 18+ years of age.
- You need to have a full UK driving licence.
- We require 3 years employment history.
- We require 3 years address history.
- You should have a good credit rating (each application uses different criteria so we can't advise on specifics with regards to credit ratings).
- The car should be for you. A personal car lease is not suitable for customers wishing to take out a lease on behalf of another person or for another person’s use.
How do I get started?
You choose the manufacturer and model of car that you want and we will manage the rest for you – it's a very straightforward process. All you do is pay one fixed monthly fee, keeping your costs low and predictable.
- Check out our special offers or use the quick finder tool on our homepage, you can use our advanced search filters to find specific models.
- Select the car you want, customise your terms and send us an enquiry.
- We will then contact you to finalise your deal.
If you would prefer to speak to us straight away, no problem! Give us a call on 0344 387 2727 or send an email to email@example.com one of our friendly advisors will be on hand to help.