Personal Contract Hire Plans for a Car

[Katie B]

Hello! I am looking to get a car through a personal contract hire plan, in which I pay rental per month and then after three years can either pay the difference, or get a new car with the scheme. It appeals to me because if anything goes wrong it'll be free (and hassle-free) to get it fixed under the warranty. Has anyone done this? What are people's views on this? Is it a complete waste of money?
Thanks,
Katie

[Astaroth]

I do a lease which basically includes everything other than my petrol. As my employers own a car group we get them for a very low price but even at normal prices they can be a good idea. To be honest though it is the mercs/ audi/ bmws of the world where the deals tend to be the best - esp as you dont have to get a loan/ capital for £50k up front - rather than your ford fiestas.

Make sure you read the T&Cs fully though as some are more complete than others (some include servicing/ maintance/ breakdown cover others dont)