Personal Contract Hire

Personal Contract Hire

What is Personal Contract Hire (PCH)?

Personal Contract Hire or personal leasing, is when you pay a monthly fee to rent a car for an extended period of time.  PCH is a flexible car rental option that allows you to enjoy a new vehicle without the commitment of ownership.

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How Does Personal Contract Hire Work?

  • Choose a new car and agree on a long-term rental period, usually 3 to 5 years.
  • Agree on an annual mileage limit. The higher the limit the higher the monthly payment will be.
  • The leasing company will then calculate a monthly payment based on the car’s value, contract length, and mileage limit.
  • Pay a deposit or initial rental of 3-10% of the car’s value.
  • Take delivery of the vehicle once the rental agreement is signed and comprehensive insurance is in place.
  • Pay the monthly rental amount for the duration of the lease agreement.
  • Hand the car back at the end of the agreement. No extra fees will apply if the car is returned in good shape and hasn’t gone over mileage limit.

Is Personal Contract Hire right for me?

If you don’t want to own a car, Personal Contract Hire could be a good option. With this choice, you give the car back when the term is up.

What are the advantages of Personal Contract Hire?

There are several advantages to PCH, including:

  • Fixed monthly payments can help you budget your motoring costs.
  • No need to worry about depreciation or selling the car when the contract ends.
  • You can drive a new car every few years.
  • Road tax is included in the monthly payment

Required For Personal Contract Hire

Address History

Bank Statements

UK Driving Licence

Proof of Identity

Proof of Address

Income & Expenditure