Personal Contract Hire

What is Personal Contract Hire?

Personal Contract Hire – sometimes known as personal leasing – is a long-term vehicle rental agreement for individuals.

You choose a car, agree to a fixed term (usually 2 to 4 years), and pay a monthly charge based on your expected annual mileage. At the end of the contract, you simply return the vehicle.

PCH is ideal if you want the use of a new vehicle without the risks or responsibilities of ownership.

Advantages of Personal Contract Hire

• Low and flexible initial payment

• Fixed monthly cost – easy to budget

• Fixed mileage contract

• You only pay for the use of the vehicle

• Simply return the vehicle at the end – no hassle with selling or trade-ins

• Option to include maintenance cover

• No depreciation or disposal risk

• Flexible profiles to suit your needs and driving habits

Disadvantages to Consider

• You won’t own the vehicle – it must be returned at the end

• The vehicle must be returned in good condition (Fair Wear and Tear guidelines apply)

• Early termination can be expensive

• Fully comprehensive insurance is required for the duration of the contract

More Information on Personal Contract Hire

PCH removes the financial risk of owning and disposing of a vehicle. It's similar to Business Contract Hire but tailored for individuals.

Before your contract begins, you’ll choose:

• Your desired vehicle

• Your annual mileage allowance

• Whether to include maintenance

Once your mileage and contract terms are agreed, we’ll provide a personalised quote.

It’s important to be as accurate as possible with your mileage estimate. Excess mileage charges apply if you go over your agreed limit – and while some funders allow mileage changes mid-contract, this varies by provider.

Maintenance can be added for extra peace of mind. It generally includes:

• Servicing

• Routine maintenance

• Tyres

• Exhausts

• Batteries

Please remember:

• The person named on the finance agreement must arrange and pay for fully comprehensive insurance

• The vehicle must be returned in line with the Fair Wear and Tear Guide – a copy is provided near the end of your contract

Some contracts can be formally extended, so if you’re not ready to return the car at the end, just ask and we’ll guide you through your options.