Experts in Vehicle Leasing

Personal Contract Hire

Personal Contract Hire

The personal hire option designed purely for individuals

An alternative funding option to PCP, personal contract hire (PCH) offers you all the same benefits of a contract hire arrangement.

As with contract hire for businesses, this brings a cost-effective and simple way of leasing a car but is aimed at the individual driver. By signing a contract with a fixed monthly fee, you can benefit from driving a new and often upmarket car with a small upfront payment and without having to worry about the risks of owning and reselling it.

  • A way to access a new and often prestigious car at less cost than buying yourself
  • Fixed monthly payment rates
  • No concerns over vehicle resale values
  • Vehicle Excise Duty is included
  • Option to include servicing, repairs or maintenance in agreement
  • Easy to manage
  • Can just hand back car at end of agreement and sign up for a new car if you choose

How it works

One of the most common forms of personal leasing, personal contract hire is exactly the same as contract hire for business users but is purely aimed at private individual customers.

It enables you to take control of a car for a fixed term – typically between two and four years – and mileage in return for paying a fixed monthly rental payment. You will also need to make an initial deposit payment.

We calculate the monthly rental payment based on the estimated residual value of the vehicle – which is its value at the end of the contract when depreciation is taken into account – as well as incorporating an interest margin and a management fee used to provide support to you over the life of the agreement. Vehicle Excise Duty is also included.

As the vehicle is owned by us, you will never own it yourself and there is no option to acquire it for a lump payment.

In return, you benefit from no disposal or resale risk and can just hand the vehicle back at the end of the agreement. Providing the vehicle is returned in a condition appropriate for its age and within the contracted mileage, no further costs are payable and we are responsible for its resale.

This means at the end of the contract you can simply walk away and take out a new lease if you choose.

​Additional benefits

You can also choose to include servicing, maintenance and tyres in the agreement. This remove the time and hassle of dealing with servicing while also allowing you to pay for the costs on a fixed monthly basis.