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Is Contract Hire a good idea?

Is Contract Hire a good idea?

Personal contract hire (PCH) is a form of leasing for people rather than businesses that lets you have the use of a car for between one and four years. It now accounts for 11% of all the finance taken out on new cars, and is a great option if you want to drive a new car regularly and keep monthly payments down.

What is personal contract hire UK?

Personal Contract Hire is a simple lease agreement that gives you the ability to regularly change cars and avoid the decreases in value that owning a car outright normally results in. Similar to a standard home rental contract, there is no option to buy the vehicle at the end of your term.

How much does it cost to lease a car UK?

Car leasing usually costs between £100 & £1,000 per month – this is the average most people will spend per month on a car lease, but it depends on the car you choose.

Which is the best company for personal contract hire?

We’re ZenAuto, the home of all things personal contract hire – or PCH as it’s sometimes known. We’re part of Zenith, who’ve spent 30 years working with some of the UK’s biggest businesses to provide intelligent fleet solutions.

What are the benefits of personal contract hire?

Benefits of personal contract hire You don’t need to worry about the resale, disposal or depreciation of the car at the end of your lease. Opportunity to drive a new car every few years (length of time dependant on lease agreement). Access to new cars which you may not have been able to afford if you were purchasing the vehicle.

Can You get Personal Contract Hire on a used car?

No, it doesn’t include insurance. Can you get Personal Contract Hire (PCH) on used or nearly-new cars? No, this type of lease can only be used on new cars. With Personal Contract Hire (PCH) do you get your deposit back? No, you don’t get your deposit back as with any lease. What if I go over my agreed contract mileage?

Which is cheaper to lease or contract hire?

Leasing Personal contract hire is a type of lease for personal customers. It consists of an upfront payment followed by regular monthly payments over a fixed period of time. It is usually cheaper than financing a vehicle outright as you are effectively renting the vehicle, it doesn’t belong to you.