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Personal Contract Hire

Personal Contract Hire is a type of long-term rental that will suit you if you are not looking to buy the car at the end of your contract. You lease the car for an agreed period of time by making fixed monthly payments. When the contract expires, you simply return your car or take out a new contract on a new vehicle.

How does Personal Contract Hire work?

If you choose to take out a Personal Contract Hire on a brand new vehicle, you will be hiring it for a specified period of time (e.g 2 years) and make monthly rental payments for it.

Am I eligable?

Yes! Any individual over 18 with full UK licence is eligible for Personal Contract Hire (subject to credit checks).

What happens at the end of the contract?

At the end of the hire period the vehicle will be returned to the contract hire company. There is no option to purchase the vehicle at the end of the agreement.

Please be aware that exceeding your agreed mileage, failing to service the car as specified in your agreement and damage to the car beyond fair wear and tear standards all incur additional charges.


Throughout the hire period, the vehicle will belong to and be registered to the finance company. You will not be the registered keeper of the vehicle.


  • It's hassle free, as you can drive away a new car without worrying about the warranty running out, or how you'll re-sell it.
  • Your monthly payments on the car will be much lower than if you were buying it.


  • There's no option to buy the car at the end.
  • You will need to agree an approximate mileage estimate at the beginning of your contract - there may be a mileage charge if you exceed this.
  • You'll have to take out comprehensive car insurance - it's not included in your contract.

Please note: The above information is for guidance purposes only. As a responsible lender Associated Credits Limited recommends prior to entering into any form of legal contract companies and individuals seek the guidance of an accountant or suitably qualified independent professional advisor.