Personal Contract Hire (PCH)

WHEN THE AGREEMENT STARTS

• The amount you want to borrow, less any deposit payment is agreed.

• Your application for finance is then submitted to the relevant motor finance company and, when you pass their checks, the lender will pay for the car on your behalf.

• Your monthly payments are fixed during the period of the agreement.

WHEN THE AGREEMENT ENDS

• You return the car to the dealership with no option to buy the car - hand back the keys with no further obligation.

ADVANTAGES OF PERSONAL CONTRACT HIRE

• There are several advantages when considering a PCH plan.

• It's a low risk option as the car can be driven away without the worry of a warranty expiring or worry about the best way to re-sell it in future.

• Monthly payments would be more favourable than compared to HP

• It offers flexibility as the car can be easily changes at the end of the agreement period, with access to a wide range of vehicles which, under normal circumstances, could not be afforded.

THINGS TO REMEMBER

• It is best to be realistic about annual mileage as there will be a charge for each additional mile covered

• There is no option to buy the car at the end of the period.