Personal Contract Hire (PCH) is based on a fixed term contract where customers pay an agreed monthly charge for the use of a vehicle for a previously agreed period.
It benefits customers wishing to eliminate the financial risk associated with disposing of a vehicle. Contracts are usually taken over two, three or four years, providing a high level of flexibility. Some contracts can be formally extended beyond the end of contract date if required. Just ask and we can answer any of your questions regarding extending your contract.
PCH is very similar to business Contract Hire; both are based on a fixed annual mileage agreed on inception of a contract. You will need to decide how many miles you drive each year before quotations can be obtained. Once you have stated how many miles you drive in a year and considered which vehicle you would like to lease a quote can be created for you by one of our sales team.
Regulations with regard to making mileage amendments after contracts are live vary from funder to funder, so it is always better to be as accurate as you can be. If you do exceed the agreed allowance at the end of your contract you will pay an excess mileage charge, which will have been agreed upon prior to signing the finance agreement.
Please remember this when deciding upon you annual mileage. If you are looking to have predictable motoring costs adding maintenance to your monthly payment is easy. Maintenance is there to put your mind at rest should any challenges arise with your vehicle and generally covers servicing, routine maintenance, tyres, exhausts and batteries.
Please note that it is responsibility of the person named on the finance agreement to arrange and pay for fully comprehensive insurance for the vehicle. It is important that the vehicle is returned in accordance with the guidelines set out in the 'Fair Wear and Tear Guide', a copy of which is made available to customers when they are near the end of their PCH agreement.
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Telephone : 0370 600 6668
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Mann Island Finance
Corporate Finance Solutions
5 St Paul's Square
Mann Island Finance Limited (MIF) is authorised and regulated by the Financial Conduct Authority for credit-related regulated activities. Business customers may not be protected under the Consumer Credit Act 1974 or the rules of the Financial Conduct Authority. MIF is a credit broker, not a lender. Registered office: Reading International Business Park, Reading RG2 6AA. Registered in England, Company Registration No.02750308. Part of the Investec group of companies. All offers are subject to change without notice and to finance approval, terms and conditions and vehicle availability. Mann Island does not endorse the suitability of any products described for particular customers. Other products may be more or less suitable, depending on the customer’s needs and circumstances.
Disclaimer: All vehicle images and descriptions are for illustration and reference purposes only, all vehicle leases are subject to credit approval and subject to change at any time. E&OE.
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