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Personal Contract Hire

Personal Contract Hire (also referred to as Personal Leasing or PCH) is just like business contract hire but for individuals

PCH is based on a fixed term contract where customers pay an agreed monthly charge for the use of a vehicle for an agreed period.

Advantages:

  • Flexible initial payment (you choose from just 1 rental down- the more you 'put-down' the lower you monthly rental becomes)
  • Low monthly cost as you only pay for the use of the vehicle
  • Fixed contract duration
  • Fixed contract mileage
  • Fixed cost motoring
  • At the end of your contract simply hand the vehicle back
  • Option of including maintenance with the contract
  • No depreciation risk nor disposal hassle

Disadvantages:

  • Vehicle must be returned in a well maintained condition
  • Early termination can be expensive
  • You must have fully comprehensive vehicle insurance
  • You will never own the vehicle ( although usually you can arrange for your partner/friend etc to buy the vehicle if you wish)

More Information on Personal Contract Hire:

Great customers wishing to eliminate the financial risk associated with selling 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 but for individuals; both are based on a fixed annual mileage agreed on inception of a contract. You will need to decide how many miles you drive each year before quotations can be obtained. Once you have stated how many miles you drive in a year and considered which vehicle you would like to lease a quote can be created for you by one of our sales team.

Regulations with regard to making mileage amendments after contracts are live vary from funder to funder, so it is always better to be as accurate as you can be. If you do exceed the agreed allowance at the end of your contract you will pay an excess mileage charge, which will have been agreed upon prior to signing the finance agreement.

Please remember this when deciding upon you annual mileage. If you are looking to have predictable motoring costs 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 is responsibility of the person named on the finance agreement to arrange and pay for fully comprehensive insurance for the vehicle. It is 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.

CLVR Limited are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 671701

Registered in England & Wales with company number : 05632898 | Data Protection No : Z9320395 | VAT No : 889886027

Registered Office : Old Corsend Farmhouse, Gloucester GL19 3BP

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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