Personal contract Hire - Leasing a car

tindella

Hi there!

Does anyone know anything about PCH (Personal Contract Hire) which is leasing a car as opposed to buying it? Pros and cons, please.
:beer:

Kimberley

I saw that on Yahoo too. I'd like to know more about this as well.

flyingscotno1

tindella wrote: »

Hi there!

Does anyone know anything about PCH (Personal Contract Hire) which is leasing a car as opposed to buying it? Pros and cons, please.
:beer:

You'll have milage limits to stick to (usually can be adjusted if needs be), you can be tied into a contract for 3 years so if your circumstances change it can be a bit more difficult than selling the car and if someone rams it with a trolley you have to get it repaired rather than cursing it or they'll charge you for the damage on return. You also need to look at models that make the most sence financially rather than choosing a specific car you like as prices depend on depriciation.

On the plus side you are essentially paying for depreciation and a smaller bit for finance rather than having a large loan and depreciation. You get to chuck the car and get a new one every 3 years (some will let you buy it) and the road tax is usually paid for. The car is nearly always under manufacturers warranty.

I think you have to weight it up. I've found it to be a mixed bag and for my last car I found it potentially cheaper to buy a nearly new car on a bank loan and cash rather than lease for my budget.

dougie212

intrests me too.... this leasing lark.... anyone suggest any companies to look at??

tindella

Thanks for your input, flyingscotsmanno1 - anyone else know anything?

Perhaps we could get Martin to investigate? when I put PCH in the search engine yesterday it didn't recognise it! :money:

AdrianHi

I think the basic principle has been outlined for you, you don't have to sink any cash into the car, you are tied in for 36 months, 24 month contracts can be had too. There is a pence per mile surcharge if you go over the standard 10,000 miles per year which isn't neccesarily a prohibitive cost.
It's good for cars that aren't too popular as the leasign companies can get them in volume at good discounts and pass the savings on to the customer. Sometimes it is cheaper than buying and selling after 36 months.
Another alternative with similar cash flow / monthly payments is PCP -Personal Contract Plan. Worth getting a total cost for both options and then deciding. You do have the flexibility of selling the car to clear the finance with PCP should circumstances change.

CDVehiclesolutions

AdrianHi wrote: »

I think the basic principle has been outlined for you, you don't have to sink any cash into the car, you are tied in for 36 months, 24 month contracts can be had too. There is a pence per mile surcharge if you go over the standard 10,000 miles per year which isn't neccesarily a prohibitive cost.
It's good for cars that aren't too popular as the leasign companies can get them in volume at good discounts and pass the savings on to the customer. Sometimes it is cheaper than buying and selling after 36 months.
Another alternative with similar cash flow / monthly payments is PCP -Personal Contract Plan. Worth getting a total cost for both options and then deciding. You do have the flexibility of selling the car to clear the finance with PCP should circumstances change.

HI All
The normal consumer are wising up the the benefits of Car Leasing that companies and self employed people have known for years (well there accountants)
There are many benefits of Car Leasing here are just to name a few:

1. The Lease (Finance) Company take the "Depreciation Hit" of the new car purchase, you know the story "Drive it of the show room floor and you have lost £2K in value" well no more ..
2. You can drive a BRAND NEW CAR for a lot less monthly payment then you could if you were to purchase the car from new.
3. 99% of the time the road tax is included in the lease monthly payments
4. Get a Fully Maintained Lease (all service work complete at a main dealer) and that's one less thing to worry about "No £800 surprise services"
5.Can totally customize your mileage allowance from 5,000 miles to 100,000 miles per annum
6.Can pick any spec of vehicle you want "If it's available from the manufacture then you can have it worked in to the lease payment"
7 Trouble free motoring and very easy to budget for!

If you want more information please PM me as I can help with all your leasing needs!

Chat Soon

Carl

iolanthe07

Beware though - one person's definition of fair wear and tear is another person's definition of unreasonable and expensive damage..