Understanding Personal Contract Hire

Understanding Personal Contract Hire (PCH)

Personal Contract Hire provides hassle free motoring for people who wish to remove risks and financial burdens usually associated with owning a vehicle, and simply want to hand the car back at the end of the agreement, and choose a new one.

The Personal Contract Hire process is straightforward. You pick a hire period - usually between 24 and 48 months - tell us your expected annual mileage and then put down an initial rental - Then make fixed monthly rentals for the duration of the agreement.

A few months before the agreement ends, we’ll contact you to discuss replacing your car and, when the agreement ends, you simply hand the car back to us.

Important information to consider

• Ownership of the vehicle will always remain with the finance company and it is really important that you keep up to date with your monthly rentals. Please contact the finance company if you are having any difficulties as the vehicle may be at risk if you do not.

• Contract Hire agreements are not designed to be settled early. If you wish to end your agreement early you can request an early termination quote to cover the cost of the remaining rentals.

• If you exceed the agreed mileage set out in your agreement, excess mileage charges will apply. If during your agreement you think you will go over your anticipated mileage, please contact the finance company to discuss the options available.

• It is important to keep the vehicle in good condition as you may be charged for any damage that goes beyond fair wear and tear.

Find out more about our range of finance products.