Personal Contract Hire

Depreciation can often put people off buying a brand new car. However, there’s one way to avoid the worry of losing money on a shiny new vehicle - Personal Contract Hire.


This type of deal is perfect if you don’t want to own the car at the end of the agreement. Historically seen as a way to source a company car, Personal Contract Hire deals are now gaining popularity with mainstream buyers.

What is Personal Contract Hire?

You’re basically hiring the car and paying for what you use. Once you’ve paid the deposit and agreed your mileage allowance, you’ll pay a fixed monthly rental to use the car - with no interest costs.


Your payments tend to be much lower and your budget able to stretch further, perhaps helping you drive a more prestigious vehicle. You can also add maintenance packages that include servicing and repairs. When your deal ends, simply hand the car back and start a new contract on a new car.

Benefits of Personal Contract Hire

- Depreciation-free motoring as you are basically paying to use the car till the end of the contract.


- Payments will usually be more affordable as there is no interest to be paid and you're not paying to own the car.


- PCH deals can often include maintenance packages that sees the cost of servicing included in the monthly rental. There'll also usually be a lot more flexibility on the likes of new tyres etc.

What to consider

- You will be given an allotted annual mileage and if this is exceeded at the end of the contract, you will have to pay per additional mile (usually between 4-14.9p per mile).


- Any damage to the car that exceeds the fair usage policy will have to be covered by yourself.


- The only two options you will have come the end of the contract are to either walk away or start a new contract on a new car. There is no option to buy like there is on Personal Contract Purchase.

Check Eligibility

Finance Disclosure

For the purpose of this promotion Stoneacre is not acting as a lender but as an independent credit broker working with a panel of lenders. A list of these lenders is available upon request. Stoneacre do not charge a fee for an introduction to a finance provider, however, we may or may not receive a commission.

Decidebloom Ltd t/a Stoneacre, Omega Boulevard, Capitol Park, Thorne, DN8 5TX, is authorised and regulated by the Financial Conduct Authority. Our FCA number is 308726. You can verify this by visiting the FCA website or by contacting the FCA on 0800 111 6768.

Representative example
Cash Price£13,000
DepositNil
47 Monthly Payments£280.51
Amount to Finance£13,00
Total Interest Payable£2,743.97
GMFV£2,950
Total Amount Payable£16,133.97
Option Fee (Included in TAP)£399
Term48 Months
Rate of Interest (Fixed)8.83%
APR9.9%
Miles per Annum8,000
Excess Mileage Charge6.0ppm

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