Personal contract hire is commonly referred to as a vehicle lease. The vehicle is purchased by the finance company who estimates a value of the vehicle at end of the term and your monthly payment consists of the depreciation and interest. The benefits are simply no residual value risk and fixed payments but the vehicle has to be returned in a reasonable condition and not a greater mileage than stated at contract inception or the finance company will levy a charge for this.
TEL: 0845 606 6665 FAX: 0870 241 1402
Fleet UK 7 Stratfield Park
Failure to maintain payments may result in termination of your agreement and the vehicle being returned, this could effect your credit rating and make it more difficult to obtain credit in the future. All prices correct at time of publication.