Personal Leasing

Personal Leasing or Personal Contract Hire is simply contract hire for individuals

Personal Contract Hire (PCH) is based on a fixed-term contract where customers pay an agreed monthly charge for the use of a vehicle for a previously agreed period.

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

Disadvantages

• The 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

Further Information 

It benefits customers wishing to eliminate the financial risk associated with disposing of a vehicle. Contracts are usually taken over two, three or four years, providing a high level of flexibility. Some contracts can be formally extended beyond the end of the contract date if required. Just ask and we can answer any of your questions regarding extending your contract.

PCH is very similar to business Contract Hire; both are based on a fixed annual mileage agreed on the inception of a contract. You will need to decide how many miles you drive each year before quotations can be obtained. Once you have stated how many miles you drive in a year and considered which vehicle you would like to lease a quote can be created for you by one of our sales team.

Regulations with regard to making mileage amendments after contracts are live vary from funder to funder, so it is always better to be as accurate as you can be. If you do exceed the agreed allowance at the end of your contract you will pay an excess mileage charge, which will have been agreed upon prior to signing the finance agreement.

Please remember this when deciding upon your annual mileage. If you are looking to have predictable motoring costs adding maintenance to your monthly payment is easy. Maintenance is there to put your mind at rest should any challenges arise with your vehicle and generally covers servicing, routine maintenance, tyres, exhausts and batteries.

Please note that it is the responsibility of the person named on the finance agreement to arrange and pay for fully comprehensive insurance for the vehicle. It is important that the leased vehicle is returned in accordance with the guidelines set out in the 'Fair Wear and Tear Guide', a copy of which is made available to customers when they are near the end of their PCH agreement.