Personal Contract Hire is one of the most popular ways to buy a new car. PCH is a type of long-term rental that will suit you if you're not looking to buy the car at the end of the finance agreement. You will need to agree an approximate mileage estimate at the beginning of your contract and have comprehensive car insurance.
You lease the car for an agreed period of time by making fixed monthly payments. When the contract expires you simply return the car and can take out a contract on a new vehicle.
✓ No balloon payment at the end of the contract
✓ Fixed payments, enabling easy budgeting
✓ Some PCH packages come with maintenance included
✓ Smaller deposits can be placed
✓ Typically lower monthly payments than PCP
✓ You won't have concerns about the depreciation of the vehicle
• Personal Contract Hire agreements will have a mileage limit
• The vehicle usually needs to be returned in "good condition" meaning you could be charged for repairs
• There may be a restriction on taking the vehicle abroad
• You won't own – or have the option to own – the car or van at the end of the agreement
If you are interested in a Personal Contract Hire agreement, simply wish to find out more or have a play with our finance calculators, visit our dedicated Leasing website at www.snowsdirect.co.uk or call the team on 0330 373 0831.