Personal Car Leasing
What is a Personal Lease?
A Personal Lease is the lease of a vehicle for a fixed period with a pre-determined mileage at a fixed cost, known as Personal Contract Purchase or Personal Contract Hire.
As an individual it is cheaper, in most cases, to Personal Lease your new or nearly new vehicle rather than to buy it.
Features and benefits of Personal Leasing
- In most instances, 1 month’s rental in advance is available,
therefore avoiding large capital outlay for both Personal Contract
Hire and Personal Contract Purchase.
- Fixed monthly rentals.
- No risks associated with ownership.
- An inclusive maintenance package is included in the monthly
rental to avoid unwanted and untimely service bills. Also included
is Road Fund Licence for the duration of the contract.
- Cars that would otherwise be too expensive to buy, become an affordable option on a Personal Contract Purchase or Personal Contract Hire plan.
Who is Personal Contract Purchase / Personal Contract Hire for
Those opting out of a company car scheme as well as the private individual and anyone who wants to save money and not have the worries associated with the ownership of a vehicle. Car Leasing UK are more than happy to discuss any aspect for you to reach the best option for you.
Personal Contract Hire ( PCH ) – with Car Leasing UK
A Personal Contract Hire arrangement is for a new or used vehicle is offered for a pre-determined period, normally 24 to 48 months, although longer contract periods can be offered. Personal Contract Hire also has a pre-set mileage and should this mileage be exceeded by the end of the contract a pre-determined charge is levied.
Where applicable the VAT is claimed back on the purchase of the car by the leasing company and non-reclaimable VAT is charged on the monthly rental. There is no ‘guaranteed future value’ and at the end of the contract, the car would normally be returned and excess mileage charges made to you if appropriate as per the contract. You are able to purchase the car at the end of a Personal Contract Hire agreement if you wish via a third party and a price will be quoted at that time.
