Personal Contract Hire - PCH 

PCH  is also known as Personal Leasing and is one of the most commonly used forms of new vehicles acquisition in the UK.

PCH allows a private individual the chance to drive a car for a fixed period of time – usually from 2 to 5 years.  You can terminate the agreement at any time during its currency but an early termination charge would apply.

During the currency of the agreement , a monthly rental is paid to the leasing company, this rental is fixed and you know from day 1 how much the car is going to cost you over the period.  Only if the rate of VAT changes will your monthly rental be altered.  VAT is included in the quoted rentals.

Mileage is pre-agreed at the start of the agreement – these can be from 8000 to 50000 miles per annum.  At the end of the agreement there is a charge if you exceed the agreed mileage – in most cases we will allow you to change the mileage part way through the contract if your circumstances change.

The funder will have access to fleet discounts and bonuses on most cars and these are used to calculate the rental – thereby allowing you to take advantage of their fleet terms

The advance rental is set by the customer – this can be from as little as one monthly rental- you can pay a higher advance rental with a corresponding decrease in the subsequent monthly rentals

You can opt for a maintenance contract which would cover tyres batteries exhausts  servicing etc. In any event you will be responsible for ensuring that the vehicle is serviced in accordance with the manufacturer’s recommended intervals by a repairer authorised by the funder and that vehicle is road legal at all times. *

Insurance and fuel are your responsibility and it is a term of the contract that you keep the car comprehensively insured for that period.

Driven delivery of the car to your chosen address on the UK Mainland is included in the quoted rentals.

Road tax for the period of the agreement is included in the rentals

The funder takes the risk of depreciation whilst you pay a fixed monthly rental over the term of the agreement.  You never have to worry about resale values as you never own the car, at the end of the agreement you hand back the car and walk away.  There is no option to own the car.  The vehicle will be inspected at the end of the agreement and any damage which is not considered to be Fair Wear and Tear under the terms of the BVRLA Fair Wear and Tear Guide * will be chargeable.

* Please request copies of Maintenance Guide or BVRLA Guide