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Personal Contract Hire

As the name suggests Personal Contract Hire (also known as personal leasing) is simply contract hire but for individuals

Personal Contract Hire (PCH) is based on a fixed term contract where you pay an agreed monthly charge for the use of a vehicle for a previously agreed period. This can be from 1 and 5 years, typically between 2 and 4 years.

Once you’ve decided how long you want your vehicle for and what your annual mileage will be and how much you'd like to put down as an initial payment (your profile) you can GET A QUOTE

> Learn more about choosing a payment profile

Advantages:

  • Access to a wide range of brand new vehicles with manufacturers warranty
  • Flexible profiles to suit you
  • Flexible initial payment - choose to put down as little or as much as you like
  • Choose from 5k - 50k miles per annum
  • Choose how long to have the car for (from 1 to 5 years)
  • Fixed monthly payments
  • Fixed cost motoring with road tax included
  • You only pay for the use of the vehicle
  • At the end of your contract simply hand the vehicle back
  • An option of including maintenance with the contract
  • No depreciation or disposal risk

Disadvantages:

  • Vehicle must be returned in a well-maintained condition
  • Early termination can be expensive
  • You must have fully comprehensive vehicle insurance
  • You will never own the vehicle

So .. what's included?

Regal supplies brand new vehicles which come from franchised dealerships across the UK. This means a whole range of things are included…they come with the full manufacturer’s warranty the same as if you were to drive it straight out of the dealership yourself. Brand new do not need an MOT for at least 3 years, so unless you choose a lease contract longer than this period, you never need worry about MOT tests. Road fund licence is included for the full duration of the contract, and in most cases, the manufacturer also provides you with breakdown cover, which is another cost you don’t need to worry about.

You also choose to have the option of including a maintenance package, which covers all your servicing costs, and if you want to include them, tyres too. If you decide not to include it and choose to do it yourself, this is no problem, you just pay-as-you-go. Including maintenance increases your monthly rentals, but you have the peace of mind that all costs are covered and  in the long run, this will save you money.

Free UK delivery and collection is included, so you don’t have to go anywhere to pick it up. The car can be delivered to any address, whether that be home or office.

More Information on Personal Contract Hire:

It benefits customers wishing to eliminate the financial risk associated with disposing of a vehicle. Contracts are usually taken over two, three or four years, providing a high level of flexibility. Some contracts can be formally extended beyond the end of contract date if required. Just ask and we can answer any of your questions regarding extending your contract.

PCH is very similar to business Contract Hire; both are based on a fixed annual mileage agreed on inception of a contract. You will need to decide how many miles you drive each year before quotations can be obtained. Once you have stated how many miles you drive in a year and considered which vehicle you would like to lease a quote can be created for you by one of our sales team.

Regulations with regard to making mileage amendments after contracts are live vary from funder to funder, so it is always better to be as accurate as you can be. If you do exceed the agreed allowance at the end of your contract you will pay an excess mileage charge, which will have been agreed upon prior to signing the finance agreement.

Please remember this when deciding upon you annual mileage. If you are looking to have predictable motoring costs adding maintenance to your monthly payment is easy. Maintenance is there to put your mind at rest should any challenges arise with your vehicle and generally covers servicing, routine maintenance, tyres, exhausts and batteries.

Please note that it is responsibility of the person named on the finance agreement to arrange and pay for fully comprehensive insurance for the vehicle. It is important that the vehicle is returned in accordance with the guidelines set out in the 'Fair Wear and Tear Guide', a copy of which is made available to customers when they are near the end of their PCH agreement.

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