Personal vehicle leasing from Carparison

Personal Vehicle Leasing Deals

 

Personal Contract Hire or personal leasing is a vehicle financing option for individuals - this includes cars used for business use, company car opt outs and cash allowances. Essentially, if the lease is being paid for by an individual rather than a business, it is considered to be a personal lease. 

The difference between a business lease and a personal one lies only in how the price is advertised: prices for a Business Contract Hire agreement (BCH) will exclude VAT while a Personal Contract Hire agreement (PCH) will include VAT. This is because businesses are able to claim back a proportion of the VAT on the payments of their lease vehicle and this is not the case for personal vehicles. All other areas of the lease remain the same whether on a personal or business contract.

Personal Contract Hire (PCH) is based on a fixed term contract where customers pay an initial rental followed by a monthly charge for the use of a car or van for a previously agreed period. Terms are usually between 12 - 48 months and at the end of the lease you will simply hand the vehicle back to the leasing company. 

Advantages:

  • Flexible initial payment
  • Fixed term contract
  • Fixed cost motoring
  • Flexible profiles to suit you
  • You only pay for the use of the vehicle
  • At the end of your contract simply hand the vehicle back
  • Option of including maintenance with the contract
  • No depreciation or disposal risk

Disadvantages:

  • Vehicle must be returned in a well maintained condition
  • Fixed mileage contract
  • Early termination can be expensive
  • You must have fully comprehensive vehicle insurance
  • You will never own the vehicle
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personal lease deals

More Information on Personal Contract Hire:

Personal Contract Hire (PCH) benefits customers wishing to drive a brand new car. A personal lease offers flexibility and affordability while reducing the financial risk associated with maintaining and reselling a vehicle. You will find leasing is a more cost-effective funding method than many alternatives as you are financing the depreciation value of the vehicle rather than its total cost and the interest associated with that higher sum.

A personal vehicle lease will be one of the easiest and most affordable ways to procure a brand new vehicle. Consequentially benefitting from improved vehicle safety and technology, reliability and of course overall driving enjoyment. If you are not ready to make the jump to an electric vehicle but are conscious of your carbon footprint, driving a new vehicle will also allow you to contribute positively to this movement due to the increasingly strict emissions regulations governing new vehicle releases. 

Personal Contract Hire (PCH) is very similar to Business Contract Hire (BCH); both are based on a fixed annual mileage agreed on inception of a contract. You will need to decide how many miles you drive each year before accurate pricing can be obtained. You can customise all lease deals online or a quote can be created for you by one of our consultancy team.

Regulations with regard to making mileage amendments after contracts are live vary from funder to funder, so it is always better to be as accurate as you can be. If you do exceed the agreed allowance at the end of your contract you will pay an excess mileage charge, which will have been agreed upon prior to signing the finance agreement.  

If you are looking to have predictable motoring costs adding vehicle maintenance to your monthly payment is easy. Maintenance is there to put your mind at rest should any challenges arise with your vehicle and generally covers servicing, routine maintenance, tyres and batteries.

Please note that it is responsibility of the person named on the finance agreement to arrange and pay for fully comprehensive insurance for the vehicle. It is important that the vehicle is returned in accordance with the guidelines set out in the 'Fair Wear and Tear Guide'.

 

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