Contract car hire is an excellent option for individuals who require a car for a prolonged period of time. In the UK, personal contract hire (PCH) is a popular way to lease a car without having to worry about the upfront costs of purchasing the vehicle.
PCH allows you to choose a car of your choice, and you pay a fixed monthly amount for the duration of the contract. The contract length varies, but most agreements span between 2-4 years. At the end of the contract, you return the car to the leasing company without any further financial obligations.
Personal contract hire is ideal for those who desire a new car without the financial commitment of buying one outright. Instead, you pay a lower monthly fee, which includes road tax and maintenance costs. This arrangement eliminates the concerns of maintenance, depreciation, and resale value that come with owning a car.
When looking for contract car hire options in the UK, it`s essential to research different companies and compare prices. You should also factor in the mileage allowance, the length of the contract, and any additional costs associated with early termination.
Some of the top UK contract car hire providers include LeasePlan, Lex Autolease, and Alphabet. These companies provide a vast array of car models to choose from, and their monthly payments are tailored to fit your budget.
To secure a personal contract hire vehicle, you`ll need to undergo a credit check. The leasing company will assess your financial situation and credit score to determine whether you`re eligible for the lease. However, even if you have poor credit, you may still be able to find a suitable contract car hire deal.
Finally, it`s important to note that PCH is not the same as personal contract purchase (PCP), which has a final balloon payment at the end of the contract. In contrast, with PCH, you pay a fixed monthly fee, and this covers all costs, including depreciation.
In summary, contract car hire is an excellent option for those who need a car for an extended period. If you`re in the UK and considering PCH, make sure to research different providers, compare prices, and factor in any additional costs.