Personal contract hire gives you a cost-effective method to lease a brand new car that’s easy to manage and doesn’t tie up lots of your money. You have no worries regards selling the car or on losing value with depreciation.

How it Works

Choose a vehicle to fit your budget, a lease period that suits your needs and agree an annual mileage limit.

Decide how much you want to put in as an initial rental (3, 6 or 9 months) and get your quote – you can request a quote with an optional maintenance contract (what is maintenance?).

You need to insure the car with fully comprehensive insurance. Anyone can drive the car but they have to be fully insured on it.

You can use the vehicle as if it were your own, although the finance provider still legally owns it. You just need to remain within the agreed mileage limit and look after the vehicle according to a ‘fair wear and tear’ policy, which we will provide you with at the end of contract

When the lease ends, simply hand the car back. Some finance companies will sell the car to a third party at end of contract but you will need to check this at the time.

If you do end up going over your allotted mileage, you’ll need to pay an excess mile charge. (If you have a large change of circumstance during the contract you can contact the finance company to reschedule your agreement so you pay a little more each month rather than getting an excess mileage bill at the end)

See our FAQ’s for any other questions

Pro’s and cons

Pros

• Drive a new car every few years
• Doesn’t tie up a lot of capital
• No risk of depreciation
• Low initial outlay
• Brand new car so no MOT and car has a warranty for a minimum 3 years
• Road tax included
• Fixed cost motoring including servicing (if a maintenance contract is taken)
• Easy to sort out & the car is delivered to your door

Cons

• If you do unpredictable mileage it may not suit you
• You don’t own the vehicle
• It can be expensive to early settle at the early part of the agreement
• Can be recharges at the end if the car hasn’t been taken care of

Check our reviews out to see why you should use us