What is Personal Contract Hire?

Personal Contract Hire (PCH) is a private hire agreement for people looking for a vehicle for private use which they intend to return at the end of the agreed upon period. With a PCH you will not have the option to keep the vehicle at the end of your contract. 

How it works?

Essentially, a Personal Contract Hire is longer term private hire. Depending on what mileage limit you would like the cost will increase or decrease. Once you’ve agreed on your terms of hire, you will start making your monthly payments and simply return the keys at the end of your contract term. 

The benefits

• You don’t need to worry about the car depreciating in value as you don’t own it

• Enables you to change your car relatively regularly with little hassle 

The drawbacks

• You have no option to keep the vehicle if you decide you want it at the end of the contract

• If you exceed your mileage limit you could incur extra costs

• As you don’t own the vehicle you will be liable for excess damage

Who’s it for?

Personal Contract Hire is best suited to who like to regularly change and update their vehicle. It removes the hassle of selling each time you want to upgrade and saves you from covering the cars’ depreciation in value. 

If you’d like to discuss your finance options further give us a call and one of our dedicated team will be happy to discuss the best options and how we can tailor a package that’s suited to you. 

For a quick look at what finance options are available to you, fill out our flexible finance form for an answer in just 60 seconds.