Personal Contract Hire

Personal Contract Hire (PCH) is a lease that allows you to drive a new vehicle over an agreed period of time and mileage. This gives you cost-effective access to new vehicles and no large drops in value normally associated with owning a new vehicle outright. You also have the option to include vehicle service maintenance and repairs in a maintenance rental, which means you can budget predictably for all your motoring costs.

At the end of your Personal Contract Hire agreement, you will need to return the vehicle to the finance company. There is no option to purchase the vehicle. Leased vehicles cannot be used for hire and reward purposes such as taxi or chauffeur services.

So what are the benefits of personal contract hire?

  • Drive a new vehicle on low monthly repayments
  • Flexible terms from 24 to 48 months
  • Road Fund Licence is included for the contracted period
  • Return vehicle at end of contract
  • No hassles with selling the car or losing money on the car’s value

 And what are the potential risks you face?

  • If the vehicle is returned with damage that goes beyond established industry standard set out by the British Vehicle Rental and Leasing Association (BVRLA), known as Fair Wear and Tear you may incur charges to repair that damage. For more information about the BVRLA visit
  • If you terminate the lease early, you may be liable to pay an early termination fee.
  • If you have driven the vehicle beyond the agreed mileage limit, you will be charged an excess mileage rate which is outlined in your finance agreement. Mileage limits cannot be amended at any stage during the contract.