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Personal Contract Hire

As the name suggests Personal Contract Hire (also known as personal leasing) is simply contract hire but for individuals

Personal Contract Hire (PCH) is based on a fixed term contract where customers pay an agreed monthly charge for the use of a vehicle for a previously agreed period.

Advantages:

  • Flexible initial payment
  • Fixed-term contract
  • Fixed mileage contract
  • Fixed cost motoring
  • Flexible profiles to suit you
  • You only pay for the use of the vehicle
  • At the end of your contract simply hand the vehicle back
  • The option of including maintenance with the contract
  • No depreciation or disposal risk

Disadvantages:

  • Vehicle must be returned in a well-maintained condition
  • Early termination can be expensive
  • You must have fully comprehensive vehicle insurance

More Information:

Personal Contract Hire benefits customers wishing to eliminate the financial risk associated with disposal of a vehicle. Contracts are usually taken over two, three or four years, providing a high level of flexibility. Some contracts can be formally extended beyond the end of contract date if required. Just ask and we can answer any of your questions regarding extending your contract.

PCH is very similar to Business Contract Hire; both are based on a fixed annual mileage agreed on the inception of a contract. You will need to decide how many miles you drive each year before quotations can be obtained. Once you know how many miles you drive in a year and have considered which vehicle you would like to lease an extremely competitive quote can be created for you.

Regulations with regard to making mileage amendments after contracts are live vary from funder to funder, so it's always better to be as accurate as you can. If you do exceed the agreed allowance it's no big deal - but at the end of your contract you'll pay an excess mileage charge which is agreed prior to signing the finance agreement.

Please remember this when deciding your annual mileage. If you're looking to have predictable motoring costs then adding maintenance to your monthly payment is easy. Maintenance is there to put your mind at rest should any challenges arise with your vehicle and generally covers servicing, routine maintenance, tyres, exhausts and batteries.

Please note that it's the responsibility of the person named on the finance agreement to arrange and pay for fully comprehensive insurance for the vehicle. It's important that the vehicle is returned in accordance with the guidelines set out in the 'Fair Wear and Tear Guide', a copy of which is made available to customers when they are near the end of their PCH agreement.

Before the end of your contract, we'll be in touch to see if you'd like another one. If so, we can usually arrange delivery of your new vehicle for the same day that your old one is collected.

Genus Vehicle Solutions (Stirling) are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 722796

Registered in Scotland with company number : SC334690 | Data Protection No : Z1917822 | VAT No : 925 8336 05

Registered Office : 124 Castle House, 1 Baker Street, Stirling FK8 1AL

Disclaimer: All vehicle images and descriptions are for illustration and reference purposes only, all vehicle leases are subject to credit approval and subject to change at any time. E&OE.

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