What is Personal Contract Hire (PCH)?
Personal Contract Hire or PCH is a long term rental agreement for a vehicle, very similar to a rental agreement that you would take out for a holiday hire vehicle with the key difference being that you are committing to a set hire period and pre-arranged annual mileage.
Typically there is an initial rental to pay and this is followed by set monthly payments for the duration of the hire period. At the end of the hire period, you give the car back. If you choose to return the vehicle early, or go over the agreed annual mileage you will be liable for any charges.