Personal Leasing

Acquiring a car through a Personal Lease Plan is fast becoming a popular method of financing a vehicle for personal use. Whether you have an cash allowance from your company or you're looking for a fixed cost motoring plan with no risk on the residual value of the vehicle, a Personal Lease could be right for you.

Personal Contract Hire

This route might be ideal for you if you have opted out of your company car scheme or if you are looking for fixed-cost motoring on any type of new car. A Personal Contract Hire (PCH) agreement offers the individual a fixed-cost finance alternative to purchasing a new car by traditional means.

The contracts will include road fund licence (tax) for the contract duration and can include full maintenance - routine servicing, repairs, fair wear tyres and breakdown cover - should you require this. That only leaves fuel and insurance as an additional cost to yourself. The monthly cost of a contract is dependent on the type of vehicle, length of contract (typically two to four years), contract mileage (between 6,000 to 50,000 miles per annum) and whether maintenance is included.

The initial payment for a contract is usually equivalent to three monthly payments in month one, followed by single fixed monthly payments to the end of the contract term. However, a larger initial payment may be made should you wish to reduce the remaining monthly payments. Convenience is built in. The car will be delivered to a mainland UK address of your choice and will be collected at the end of the contract – all for no extra charge.

So, if you’re a private individual looking for a new car with a comfortable monthly payment with the added benefits of no expensive surprises and no risk on the residual value, Personal Contract Hire could be right up your street.

Personal Contract Purchase

A Personal Contract Purchase (PCP) is similar to a Personal Contract Hire but provides several options. You have the choice of purchasing the car at the end of the agreement; returning it to the finance company, or using any excess over the agreed purchase price as a deposit on a further car.

As with the Personal Contract Hire, a maintenance option may be added and road fund licence (tax) is included with the monthly cost.