Personal Contract Hire, also known as leasing, is an excellent way to finance your new car without the responsibilities of ownership. It allows you to drive a brand-new vehicle for an agreed period, typically ranging from 24 to 48 months, by paying fixed monthly rentals.
You can also choose for your Lease agreement to include maintenance, meaning servicing and some vehicle maintenance is included in the package, and not an additional cost.
At the end of the PCH/Lease agreement, you will:
- Hand the vehicle back, without having to pay any balloon or additional payments
- Have the opportunity to upgrade to a newer model or completely different vehicle.
Terms and conditions apply, but most people find this option an affordable way to purchase a new vehicle without the extra commitment or concerns with depreciation.
Here are some reasons to consider a PCH/Lease agreement for your next vehicle purchase:
- Lower monthly payments/deposit
- Upgrade opportunities
- No long term commitment
- No worries about depreciation