Personal Contract Hire
Car
Simply explained
This short video provides a simple explanation of leasing a car using Personal Contract Hire.
What is it?
Personal Contract Hire is a hassle-free choice if you just want to use a car, not own one. It lets you lease a car for a chosen period of time before handing it back and choosing something else.
How it works
- Set up the agreement to run between 24 months to 48 months.
- Your monthly rentals will be based on the mileage you expect to do and the initial rental you put down.
- For an extra monthly cost, you can also include fixed-price servicing and maintenance.
- You’ll need to pay an initial rental. The more this is, the lower your monthly rental.
- At the end of the agreement, you simply return the car to us.
Why it could be right for you
- We guarantee the rental amount stays the same, as long as any government fees or charges that are included, such as Vehicle tax, don’t change.
- The contract is flexible, to meet the rental period and mileage that suits you.
- At the end of the agreement, just return the car to us. So you’ve no worries about the car’s value dropping or having to sell.
More you should know
- You must lease the car for a minimum of 24 months and the maximum term is 48 months (subject to the vehicle type).
- At the end of the agreement, you won’t own the car, and you’ll have no option to buy it.
- When you return the car, you’ll need to pay for any mileage you’ve done over what you agreed. You must also keep the vehicle in good condition in line with British Vehicle Rental and Leasing Association standards. If you don’t, we may charge a refurbishment fee.
- You can end the agreement before the agreed end date, if you return the car and pay 50% of the rentals that are left.
- If you’re a limited company, PLC or limited partnership, we can’t offer you this agreement.
- If you choose not to include servicing and maintenance in your monthly rental, then it is your responsibility to service and maintain the vehicle according to the maker’s guidelines (ideally via the franchised dealer network). Failure to do so will lead to a recharge for any work required after the vehicle is collected.