PERSONAL FINANCE

PERSONAL CONTRACT HIRE (PCH)

Our Personal Contract Hire offer allows you to rent a car that you don’t wish to own. We provide this service through KINTO One and use fixed monthly payments to shape your agreement, with optional maintenance packages available to help cover any repair costs you might encounter.

What is Personal Contract Hire?

Personal Contract Hire is a finance offer that allows you to hire a car for an extended length of time. You pay a fixed monthly fee to hire the vehicle, and throughout the length (term) of the agreement it is your responsibility to take care of it. You do not own the car and you must return it at the end of the agreement. We’ve split the process into three stages below to give a clearer explanation of PCH:

  • Key Features of PCH

     

    • Fixed monthly rentals
    • Choose a term that suits you from 24 to 48 months 
    • Decide on your mileage upfront
    • Make an initial rental to the value of anywhere between 1 to 9 months rentals
    • No large final payment at the end of your finance agreement
    • Return the car at the end of your finance agreement
    • Optional fixed maintenance costs
  • Key Risks of PCH

     

    • At the end of your finance agreement, the car must be returned in the same condition it was initially hired out subject to fair wear and tear, and agreed mileage. Our representative will assess the vehicle in line with the current BVRLA Fair Wear and Tear Guide. Any items outside of this acceptable range will be charged
    • If you exceed the agreed mileage and choose to return the car, an excess mileage charge will be payable at the end of your finance agreement.
    • If the car is in poor condition which is outside fair wear and tear guidelines at the end of your finance agreement, you will be required to pay for the damage.
    • If you fail to make the payments under your finance agreement, we will assist you in your circumstances to achieve a sustainable outcome, but you may have to return the car or it can be repossessed, legal proceedings may be commenced against you to recover sums that you may owe and your credit rating may be adversely affected.
    • Your finance agreement is design to run for the full term.  If you wish to terminate the agreement early, you will be required to pay future rentals charges.

     

HOW DOES PERSONAL CONTRACT HIRE WORK?

INITIAL RENTAL DEPOSIT

The Initial Rental is the amount you pay upfront at the start of the agreement. The Initial Rental equates to the value of anywhere between 1 to 9 months rentals.

MONTHLY RENTAL PAYMENTS

Your monthly rentals will be fixed throughout your agreement, and they are affected by the size of your Initial Rental. Once you’ve chosen the length (term) of your agreement, the rental amounts will be spread equally across the months. To help keep the car within the wear and tear guidelines, optional maintenance packages can be added into the monthly rental cost. You will be expected to stick within the pre-agreed mileage limits and if you fail to do so, you will face a fee.

End of Agreement

Once you’ve made your final monthly rental and your agreement has come to an end, it’s time to return your car to the lender. Upon its return, the car will be assessed for wear and tear against the manufacturer guidelines that were shared with you at the start of the agreement. If any damage is noted beyond the usual wear and tear, you will face an additional fee.

​Get in Touch

To speak to a member of the KINTO sales team call us on 0808 1969 163

 

PCH Frequently Asked Questions

From 1-9 monthly rentals.

Choose a term from 24 to 48 months*

Yes

Yes

Yes. You decide your annual mileage at the start of your finance agreement.

No

Yes

A condition of your finance agreement is that the car must be maintained in line with the manufacturer’s guidelines. You can add the cost of maintenance into the monthly rental.

Because you do not own the car, the depreciation risk is taken by KINTO UK Limited.

Your finance agreement is designed to run for the full term.

No

No. The car remains the property of KINTO UK Limited.

No

You will not own the car and must return it.

 

*Maximum terms vary according to car model

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