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Vauxhall Personal Contract Hire (PCH)

Personal contract hire (PCH), is commonly known as vehicle leasing, and in effect is like long-term car rental where you enjoy driving the vehicle of your choice, but without having to take on full ownership and furthermore, the fixed monthly rental also often includes the cost of your Road Fund Licence. With a Personal Contract Hire agreement you can choose from 'No Maintenance', ‘Service Only’, ‘Full Maintenance’ or ‘Full Maintenance with Tyres’ options. This means your ongoing motoring costs are fixed over the term of the agreement allowing you or a company to budget easier and thereby reduce unexpected costs.

How does Vauxhall PCH Work?

At the end of the agreement you have a choice of three options:

  • Pay the guaranteed future value to own the vehicle outright
  • Hand back the vehicle with nothing more to pay
  • Part exchange the vehicle and use any equity as a deposit on your next vehicle

You sign a PCH agreement with a leasing company that lets you drive a brand-new Vauxhall for a selected period of time, for an agreed annual mileage and for a fixed monthly fee (usually between three to six months’ rental). The agreement consists of a non-refundable upfront payment, followed by regular monthly payments for the length of the contract, it really is as simple as that!

This type of vehicle finance can be very tax efficient for companies because the contract hire vehicle is actually owned by the leasing company and does not have to be shown as an asset on the company balance sheet. Furthermore, some or all of the rental charge can be offset against taxable profits

Points to Note: You never own the vehicle, you simply just hand it back at the end of the contract hire period.

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