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.
- 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
- 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