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| Contract Hire | Personal contract Hire | Finance Lease | |||||||||||||||||||||||
| Contract Hire Overview | PCH Overview | Finance Lease Overview | |||||||||||||||||||||||
| Benefits | Benefits | Benefits | |||||||||||||||||||||||
| Tax implications | Tax implications | Tax implications | |||||||||||||||||||||||
| Contract Hire includes | PCH includes | Finance Lease includes | |||||||||||||||||||||||
| Contract Hire Agreements | PCH Agreements | Finance Lease Agreements | |||||||||||||||||||||||
| Used vehicle contract Hire | Used vehicle PCH | Used vehicle Finance Lease | |||||||||||||||||||||||
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PCH - Personal contract hire Lots of company car drivers have questioned the cost of having a company expensed car is worthwhile as the benefit in kind taxation can be penalistic. For many employees a company car is an essential business tool so companies look to other vehicle funding options to keep everyone happy. Often companies offer increased salary or tax free mileage allowances for employee's own cars. Consequently Personal contract hire, personal contract purchase or personal leasing are all offered for such car drivers. As well as company car drivers Personal contract hire is also beneficial for private individuals. Personal contract hire offers a fixed monthly cost that covers all your motoring expenses. As only the depreciation is financed, VAT is reclaimed by the leasing company and because they have massive purchasing power the monthly rentals are often cheaper than you might think. The vehicles are financed by the leasing company and there is no interest charges or finance commission to worry about as well as no depreciation risk. At the end of the personal contract hire lease you simply return the vehicle (subject to mileage and condition assessment). Certain types of personal leasing contracts allow you to buy the vehicle at a pre-determined price With a personal contract hire agreement you can choose any make or model of car. The choice is yours. |
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PCH
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