Personal Contract Hire
Personal Leasing is an agreement that provides you with the use of any vehicle for a selected period of time at a series of fixed monthly cross. It allows you to avoid the inevitable depreciation a car has, as all risks is taken by the finance company as they own the vehicle throughout the duration of the contract. It is for many people, the most cost-effective and hassle-free way to drive a new car.
Personal Contract Hire is the most common form of Personal Car Leasing and often acts as the overarching term for the process. Personal Contract Hire, like all forms of leasing, gives you the opportunity to drive a brand new vehicle at a fixed monthly payment over an agreed duration (usually either 24, 36 or 48 months). You will also be required to pay an initial rental, this can range from 1 month to 12 months upfront, whichever suits you!
At the end of your contract, you simply hand the keys back to the finance company!
Key Benefits to Personal Contract Hire:
- Fixed Monthly Payments
- Flexible terms from 24 months to 48 months
- Fixed mileage allowance to suit your needs
- Little or no upfront payment options available
- No depreciation risk
- Road fund licence and Full UK Manufacturer’s Warranty included
- Brand new cars at affordable prices
- Maintenance can be included in your monthly fees to help spread the cost
- Hassle free motoring – just return the vehicle at the end of the contract and start a new agreement on a brand new car
Things to consider:
There are lots of benefits to having a vehicle on a Personal Contract Hire, but you should consider the following:
- There are variable contract length and mileage terms to choose from and you should ensure that these will suit your circumstances and driving style.
- Terminating your personal contract hire early can be expensive
- Exceeding your agreed annual mileage will incur excess mileage charges at the end of your contract
- You will need to be 18 years old to acquire finance (some funders require you to be 21 years old)
- If your vehicle is damaged (over and above ‘fair wear and tear’ as set out in your agreement), you will likely have to pay an additional charge
- It is your responsibility to insure your vehicle (fully comprehensive) for the duration of the agreement
- You will not own the vehicle
Personal Contract Hire
Personal Leasing is an agreement that provides you with the use of any vehicle for a selected period of time at a series of fixed monthly cross. It allows you to avoid the inevitable depreciation a car has, as all risks is taken by the finance company as they own the vehicle throughout the duration of the contract. It is for many people, the most cost-effective and hassle-free way to drive a new car.
Personal Contract Hire is the most common form of Personal Car Leasing and often acts as the overarching term for the process. Personal Contract Hire, like all forms of leasing, gives you the opportunity to drive a brand new vehicle at a fixed monthly payment over an agreed duration (usually either 24, 36 or 48 months). You will also be required to pay an initial rental, this can range from 1 month to 12 months upfront, whichever suits you!
At the end of your contract, you simply hand the keys back to the finance company!
Key Benefits to Personal Contract Hire:
- Fixed Monthly Payments
- Flexible terms from 24 months to 48 months
- Fixed mileage allowance to suit your needs
- Little or no upfront payment options available
- No depreciation risk
- Road fund licence and Full UK Manufacturer’s Warranty included
- Brand new cars at affordable prices
- Maintenance can be included in your monthly fees to help spread the cost
- Hassle free motoring – just return the vehicle at the end of the contract and start a new agreement on a brand new car
Things to consider:
There are lots of benefits to having a vehicle on a Personal Contract Hire, but you should consider the following:
- There are variable contract length and mileage terms to choose from and you should ensure that these will suit your circumstances and driving style.
- Terminating your personal contract hire early can be expensive
- Exceeding your agreed annual mileage will incur excess mileage charges at the end of your contract
- You will need to be 18 years old to acquire finance (some funders require you to be 21 years old)
- If your vehicle is damaged (over and above ‘fair wear and tear’ as set out in your agreement), you will likely have to pay an additional charge
- It is your responsibility to insure your vehicle (fully comprehensive) for the duration of the agreement
- You will not own the vehicle
