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What is PCH and why choose Personal Contract Hire?

In the not-too-distant past, leasing cars was for businesses. It wasn’t for people: people bought cars, either outright, via Hire Purchase or sometimes (if they were very adventurous), Lease Purchase.
In recent years, however, we have seen a shift in car acquisition patterns here in the UK.

The snob factor

Personally, I think that one of the main reasons people have woken up to the benefits of leasing their car is the recession. We all, now, want fixed costs and it is more important to know what we are paying each month than having to worry about the “snob factor” of ownership.
Yes, it seems that the snob factor has indeed diminished. Whereas a few years ago, if someone was driving a swanky car, you would hear whispers of “they’re probably leasing it”, you are more likely to hear people telling everyone what a bargain they got with their new car and why leasing is a great idea.
It’s kind of along the same lines as many previous Waitrose shoppers are quite happy to tell their middle-class friends what bargains are to be had at Aldi. These days, we are proud to save: we are proud to be savvy.
Secondly – and this, too, is because people are becoming more educated about personal leasing – people are no longer comparing personal contract hire with renting a house.
Cars, after all, aren’t like bricks and mortar: they go down, not up. In this case, why would anyone want to pay large amounts of money each month paying off the capital cost of the car when they could just pay off what they will be losing anyway?
Or in some instances, if there is a very good PCH offer, even less?

Depreciation and running costs

People are also becoming more aware that owning a car isn’t a particularly good thing, for a number of reasons, particularly if they are buying from new.
Depreciation is a very difficult cost to budget for, as you will only know what the car has actually cost you when you sell it on.
Servicing and keeping the car road-legal is another element that people are thinking about; it is getting more and more popular to take out a maintenance agreement when a personal lease is entered into.
But the burning question is this:

Can personal leasing actually save you money?

Yes, it can. The obvious benefits of fixing your costs and knowing your outgoings are quite aside from the fact that in many instances, a competitive personal contract hire deal can cost you far less than if you were to buy it outright from new and take the depreciation hit.
This is because there are incentives and bulk buying bonuses that are “built into” some deals behind the scenes that you could never negotiate as an individual.
For example, Car4Leasing have a full portfolio of genuinely competitive personal contract hire deals from just £100.99 including the VAT – Click Here to check them out. If you can’t see what you are looking for then call the friendly team on 0844 414 8144 or contact them on Twitter @car4leasing!

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