Personal Contract Hire
PCH is a Contract Hire agreement for Private Individuals. It works in exactly the same way as business contract hire with the exception of the VAT. Businesses that are VAT registered can reclaim certain elements of VAT under contract hire but for PCH it is included in the monthly payment.
The initial deposit is low and is typically equal to three monthly payments. Monthly payments are calculated based on the discounted price of the vehicle, the term of the agreement, the expected annual mileage and the predicted future value. All risk associated with future value is borne by Agility UK.
PCH is a Contract Hire agreement for Private Individuals. It works in exactly the same way as business contract hire with the exception of the VAT. Businesses that are VAT registered can reclaim certain elements of VAT under contract hire but for PCH it is included in the monthly payment.
The initial deposit is low and is typically equal to three monthly payments. Monthly payments are calculated based on the discounted price of the vehicle, the term of the agreement, the expected annual mileage and the predicted future value. All risk associated with future value is borne by Agility UK.
Fleet Management and maintenance packages can be included in these agreements, as can European breakdown cover and road fund licence. At the end of the contract you simply hand the car back and then you can start again with a new car.
Benefits of Personal Contract Hire
- Low initial deposit & fixed monthly rentals
- You can select a car of your choice
- A replacement vehicle can be arranged if yours is off the road
- Maintenance and road tax can be included
- No depreciation or vehicle disposal to worry about
- Flexible terms
