no-image

Personal Contract Hire

Understanding PCH: What it is and how it functions

no-image

What is Personal Contract Hire?

Personal Contract Hire (PCH) is a long-term vehicle leasing option designed for private individuals. It is ideal if you enjoy driving a new car every few years without the worry of depreciation or resale value. 

Much like Business Contract Hire, PCH allows you to lease a vehicle for a fixed term with agreed mileage limits. You'll make regular monthly payments throughout the lease period. Once the contract ends, you simply return the car - no need to sell or trade it in. 

Unlick other finance options such as PCP or HP, PCH doesn't offer the option to purchase the vehicle at the end of the agreement. The benefit? You avoid the hassle of ownership and you can move on to your next new car with ease. 

Why Choose Personal Contract Hire for your next car?

If you love switching to a new car every few years without the hassle of depreciation or the costs of ownership, PCH could be the ideal solution for you. Plus, it comes with a range of great benefits. 

Red check mark inside a red circle.

Decreased monthly payments

Monthly payments can be lower when comparing to other finance options as you are only paying for the vehicles depreciation over time.
Red check mark inside a red circle.

Upgrade easily

With deposits only usually being between 3 to 6 advance monthly payments it means it is easier to upgrade to new vehicles.
Red check mark inside a red circle.

Avoid the uncertainty of future depreciation

When your lease ends, simply give the car back without needing to sell the car
Red check mark inside a red circle.

Incentives

Certain manufacturers will offer financial incentives such as paying for your road tax.

Frequently Asked Questions about PCH agreements

Do I own the car during the agreement?

What is GFV?

Can I settle my PCP agreement early?

What happens if the car is worth more than the GFV?

What happens if I damage the car?

IS PCH available on used vehicles

Who is responsible for insurance and road tax?