A Personal Contract Hire (PCH) agreement is similar to other contract hire agreements except that it only applies to an individual and not to a business. This is one of the most common ways of leasing a car, and what people generally mean when they refer to car leasing in general.
PCH agreement allows you to drive a car for an agreed period of time (lease period) and up to the agreed mileage. Following the initial rental, you'll have to pay monthly rentals for the length of your contract. When your contract is over, you return the car.
People are attracted to this form of car leasing because it takes away the worry about the resale value. Once the contract is completed, you can walk away without any further obligations.
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