Personal Contract Hire (PCH) is similar to renting, in that you’re using a particular vehicle, for an agreed length of time (usually between 2 – 5 years), for a set fee.You have complete freedom of choice over your vehicle’s make, model and specifications (colour, trim, etc.) and your contract is tailored to you in terms of annual mileage, length of contract and how you’d like payments structured. The total cost of your vehicle lease is calculated on several factors:
More and more individuals are looking at the option of personal car leasing instead of outright purchase as a much more cost-effective way of running a car.
Now more than ever, due to heavy car depreciation losses and unexpected repair costs associated with buying, personal car leasing can save a considerable amount of money over the lease period, with many these days seeing it as the cheapest way to drive a brand-new car. With car leasing, you’re simply paying the depreciation on the car, meaning your monthly outgoings are significantly lower compared to most other forms of finance
Drive a brand-new car… car leasing's affordability provides the opportunity to drive the latest models, most up-to-date technology, car specifications and safety features
Drive a new car every 2 to 4 years… with car leasing you can enjoy changing to another new car every 2 to 4 years
Avoid the problems and expenses of ageing cars… the first 3-4 years of a cars’ life tend to be problem free, so you avoid the issues and costs that often come with older cars
Ongoing affordability… a car lease usually offers the lowest upfront and lowest monthly instalment options for driving a new vehicle
Protect your savings… a smaller deposit or initial payment is typically required compared with other options, leaving your hard-earned savings available for other things
Drive a better car… car leasing’s sheer cost effectiveness vs. other finance options means you may well find you can drive a better car than you expected
All in one fixed-cost motoring… pre-set monthly instalments, all-inclusive manufacturer warranty and road tax plus maintenance options means every month you’ll always know exactly what you’ll be paying out
No depreciating asset… most vehicles lose 50–60% of their value in the first three years, but with car leasing you avoid this financial loss because you don’t own the vehicle
No selling hassle at the end… with car leasing you don’t have the problem and concern of selling the car when you’ve finished with it, you simply hand back the keys
