Benefits of a Personal Contract Hire Agreement
Are you a lover of cars, but don’t have enough budget to buy a new car every year? Well, a personal contract hire agreement is the right thing for you to try this year. Like different car leasing types, personal contract hire agreement is also a type of car leasing where you can use a car for a certain amount of time and a specific mileage mentioned in your agreement.
Car leasing in Manchester UK is somewhat different from personal contract hire in terms of owning a car because you cannot add more to the instalments to buy the car. There are a lot of benefits when you opt for personal contract hire instead of the traditional car leasing method. However, you should first know what it is all about.
What Is Personal Contract Hire?
Personal contract hire agreement gives you the freedom to drive a new car every year on unless the old contract is completed. Cars are not only a source of commute for some people. They are passionate about driving every car that comes in the market. While not everyone has the status to drive luxury cars, personal contract hire helps these car lovers enjoy some months with their favorite cars on a fixed amount.
There is a complete written agreement according to which you are actually paying the depreciation price of the car instead of paying for the car itself. You cannot buy the car even after paying a set instalment every month. You add a time limit or a mileage limit in the agreement, completion of which you will have to return the car to the leaser.
Benefits Of Personal Contract Hire Agreement
Do not be disappointed that you won’t be the owner of the car even after paying for quite some months for it. There are a lot of other benefits of choosing personal contract hire agreement some of which are as follows:
For anyone who is thinking that you get nothing but you have to pay for the car instalment every month, don’t forget that you are getting to show off a new car with every new contract. Many people are of the view that they can save all the money they are paying. However, you can only invest in a single-car after saving for a year while personal contract hire agreement sets you free to choose any car you like and whenever you like.
PCH rentals are fixed, which is why you are never in a mess when the time of monthly payment comes. You know how much you have to pay so you just keep the amount aside. There are no interests or changing rental amounts. You have to pay as per the agreement.
No Worries Of Reselling Your Car
Even if you buy a car after years of struggle and saving money, its value will depreciate after a year or two. Then, you will face a hard time reselling it. PCH helps you get rid of all the hassle of finding a seller for your car. This automatically saves you from any obligations.