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01708 384451

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Personal Contract Hire (PCH) Explained

Personal Contract Hire (PCH) can essentially be thought of as a long term lease on a vehicle that applies exclusively to clients who wish to obtain finance in their own name.

With PCH you take control of a car for a contract period typically between 2 and 5 years, though the car is in your possession it is never actually yours to own. Subject to finance the leasing company will require you to pay an initial payment equivalent to typically 1, 3, 6, 9 or 12 of the fixed monthly payments thereafter you pay the fixed monthly payment to the leasing company for the duration of the contract term. A typical industry wide example would be what is known as a 3+35 profile, so for example if your monthly rental was £250 per month you would be expected to pay £750ple as the intial rental and then £250 per month until the end of the contract. 

At the end of the contract the vehicle is collected and returned to the leasing company providing it is returned in reasonable condition in line with a fair wear and tear policy, for more information on fair wear and tear please click here. Road fund licence (tax) is included for the duration of the contract term. Finally PCH offers the flexibility of choosing either a funder maintained or customer maintained contract.

Customer Maintained - it is your responsibility to ensure the vehicle is serviced in accordance with the manufacturers guidelines

Funder Maintained - includes your routine servicing, maintenance and tyres.
*Certain finance companies will cover the repair or replacement of the tyre when punctured, others may request a contribution toward the cost of the repair / replacement.

Delivery of a vehicle once ordered is free of charge to anywhere in mainland UK.