When it comes to the world of personal car leasing it can be quite confusing, especially with all the jargon. So, lets’ take a closer look at how it all works and lay it out for you in simple terms.
Personal contract hire (PCH) is one of the most popular ways to get a brand-new car. A PCH is an agreement you enter into to rent the car for a period of between 24 and 48 months. Car lease deals UK are entered into when you put down a deposit (usually up to 12 months of the monthly payment upfront) and then pay monthly payments for the remaining period of time. At the end of the lease, you simply hand back the car and start a new PCH with a new vehicle.
On the other hand, PCP is similar in that you pay an upfront fee for the length of the contract and then you have the option to make a balloon payment at the end of it if you want to keep the car, or you can opt-out and just hand it back.
Personal contract hire is fast becoming the most common form of private car leasing, because it gives you the option of paying a fixed monthly rental fee plus any maintenance option if chosen.
The monthly rental amounts are calculated by taking the following into consideration:
It is important to bear in mind that you never actually own the vehicle, it remains the property of the lease company. However, this can work in your favour as you don’t have to worry about the cost of the vehicle depreciating.
Start you new car leasing UK deal today with Amber Vehicle Solutions.
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
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Amber Vehicle Solutions
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Amber Vehicle Solutions are a trading style of Amber Car Leasing, who are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 660869
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