What Is Personal Contract Hire (PCH) & How Does It Work?

Personal Contract Hire (PCH) is a form of long-term lease. You enter into this agreement with the intention of handing back your car and picking a new model at the end of the contract. You should consider PCH if you want to upgrade to a new model frequently and also want to avoid the commitment of owning a car outright. Here's how it typically works:

  • Pick your preferred model.
  • Decide the initial payment, length of the agreement and mileage limit.
  • Pay a fixed monthly fee for the length of the plan.
  • When the contract comes to an end you can either back the keys and walk away or choose a new model and sign up for a new PCH lease.