Personal Contract Hire Explained.
Personal Contract Hire is the choice favoured by most people who would prefer to lease a car, rather than own one. You pay an initial upfront advance rental (amount dependent on size of monthly rental), usually the equivalent to three, six or nine monthly rentals. You then pay a fixed monthly rental fee (plus VAT) and in return have the right to use your chosen car over a pre-agreed period and mileage.
At the end of this period you are not responsible for the disposal, you simply return the car without further cost, providing it has not exceeded the agreed mileage and the condition is reflective of its age and mileage. There is no option to own the car at the end of the contact.
Watch a short video explaining how this product works: