Lower monthly payments.
Monthly payments tend to be lower compared to other finance options like PCP or HP since you’re only paying the vehicles depreciation costs over time.
Personal Contract Hire
What is PCH and how does it work?
What is Personal Contract Hire (PCH)?
PCH is a long-term vehicle leasing option for private individuals such as you. It’s a great choice if you enjoy driving new cars regularly without the hassle of worrying about the future value or the depreciation of the vehicle.
A Personal Contract Hire agreement is a popular and cost-effective way to lese a vehicle. It functions much like Business Contract Hire but it is tailored specifically for private individuals. You’ll make regular monthly payments based on a set mileage allowance over a period. When the contract ends, you return the car – simple.
One difference between PCH and other finance options like PCP and HP is that there’s no buyout option at the end of the contract. The upside – you won’t have to stress about reselling the car or It’s value once the agreement is finished.
Benefits of a Contract Hire agreement?
PCH could be the perfect funding choice for you if you enjoy changing your vehicle frequently without the stress of depreciation and the expenses tied to owning a car. Plus, there are some great perks to PCH.
Access to newer vehicles.
You can get into brand-new vehicles at a low initial cost with deposits usually only being three- or six-monthly payments in advance.
No worry about the vehicle's future valuation.
No need to fret about depreciation – when your lease ends, you can simply hand the car back without the hassle of selling it.
Financial incentives.
And often, road tax (Vehicle Exercise Duty) is included in the agreement, adding even more convivence!