What Is Personal Contract Hire? A Simple Definition

Personal Contract Hire

Personal contract hire is a long term vehicle rental agreement, similar to business contract hire but set up for private individuals.

The payment plan is an initial deposit (minimum of 3 payments) followed by either 24, 36 or 48 monthly payments. These are not payments towards ownership; they are for the vehicles hire. At the end of the agreement, you do not take ownership of the vehicle.

Once the contract has come to an end, the vehicle is returned to AMI Vehicle Leasing. As long as the vehicle has not exceeded the agreed mileage allowance and has not sustained damage beyond fair wear and tear, there are no further costs.

1 . Your vehicle expense is fixed for the term of the agreement.

Having fixed expenses allows you to budget your vehicle costs effectively over the length of your agreement. Road fund licence is also included for the length of the agreement.

2 . No depreciation concerns

Because you are not going to own the vehicle, you do not have to worry about fluctuations or trends in the market. At the end of the agreement you will be handing the vehicle back to AMI Vehicle Leasing. Unlike a Hire purchase agreement, there is no final or residual payment to settle.

3 . Drive a new vehicle every 2, 3 or 4 years.

With a relatively small deposit payment you are able to drive a new vehicle for the length of the contract and change easily at the end of the agreement.

AMI Vehicle leasing are able to source any make & model of vehicle for personal contract hire. We are also able to offer this agreement on a selection of nearly new vehicles.

For more information on PCH, please visit our personal contract hire page or contact a friendly member of our sales team. ( 01992 554 184 )

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