Personal Contract Hire/Car Leasing Explained
Personal Contract Hire which is also known as car leasing for personal use or abbreviated to PCH, is a financial agreement that is quickly becoming the most popular way to acquire a brand new car in the UK. In short you pay a monthly charge as part of a fixed-term contract for the use of a car.
It's an affordable way for you to lease a brand new car for a fixed period of time, typically this is between 24 and 48 months, and when your contract is over, you simply return the car with no extra costs or hidden fees as long as you have kept the car in good condition. For more information on this, please read through the Fair Wear and Tear Guide.
Car Leasing gives you the added benefit of being able to drive a brand new car without having to pay a huge upfront cost as you only cover the cost of the depreciation meaning you get a lot more car for your money!
In addition, you do not have to absorb the cost of depreciation and you get the peace of mind that comes with knowing that your fixed monthly payment covers everything aside from insurance and fuel if you include maintenance as part of your contract.
With flexible car leasing profiles to suit everybody, there is no reason why you can’t soon be driving a brand new car on terms that suit you. Plus, if you decide that car leasing isn’t for you, you have the option of ending your contract early*.
Click here if you would like to browse a range of cars available to lease today.
*Early Termination costs apply.