Personal Contract Hire
PCH is a form of long term car hire. There may be no initial deposit, or maybe a small one, and payments are made monthly. These payments usually include servicing and maintenance and may cover depreciation. This can be quite handy for people who prefer 'fixed cost' motoring - in other words, knowing exactly how much the car is going to cost you over the period you have it.
There are usually mileage limitations - if you exceed these you will pay extra and, of course, fuel isn't included.
You will never own the car and these schemes are not widely available - they are generally aimed at businesses as private users cannot claim back the VAT.
