Personal contract hire
Personal contract hire, also known as personal leasing or PCH, is a hire contract where you receive a new vehicle and pay an agreed monthly rental for an agreed minimum period of hire.
Your rentals will be based on how many miles you’ll drive each year, the leasing period – usually between 3 and 4 years – and what we think the vehicle will be worth at the end of your contract.
During your agreement, we’ll look after the annual road tax, plus there are options to include servicing, repairs, general maintenance, breakdowns and recovery in the price. We’ll also be here to give you any support you might need.
At the end of your leasing contract, you might have to pay a bit extra if you go over the agreed mileage or the car has more damage than just fair wear and tear. Other than that, though, all you have to do is return the car.
For a full description of how Personal contract hire works, please see our product guide.
- You can get a brand-new car that’s factory ordered to your specification or choose a brand-new vehicle from stock that’s ready to drive in just a few weeks.
- You have the option of including maintenance with tyres in your fixed monthly rental payment, enabling you to budget and plan your finances.
- You’ll find a wide range of manufacturers and models for you to choose from.
- You can select the length of contract and annual mileage to suit your needs.
- You have the flexibility to request, and if agreed, amend the term and mileage of the contract during your agreement (though some restrictions do apply).
- Your initial payment can be as little as three months’ rental payments.
- You can get a new vehicle every few years, so you always have the latest technology, safety and environmental features.
- You benefit from the expertise and guidance of our vehicle and leasing experts.
Key details to keep in mind
The agreement is subject to status and credit acceptance.
This is a hire product so you will not own the vehicle.
The minimum length of the agreement is 24 months.
The minimum contract mileage is 6,000 miles.
The optional service and maintenance package includes manufacturer-recommended servicing and excludes misuse, accident damage and vehicle glass.
Any increases in annual road tax will be invoiced to you.
If you go over the contract mileage, an excess mileage charge will apply.
When you return the vehicle, it must be in the same condition as delivery, apart from the effects of age, mileage and fair wear and tear.