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Leasing Explained

What is personal leasing?

Personal Leasing is more often than not, the most efficient, and cost-effective way of personally using a vehicle.

Leasing is no longer restricted to business users, but now anyone. In fact, over half of the leases we underwrite are for personal users. Personal leasing can be for a main car, a second car, boys toys or whatever your requirement is - year on year personal leasing is the biggest growing sector of the automotive industry. Personal leasing is more often than not, the most efficient and cost effective way of personally using a vehicle.

There are two main types of personal leasing:

Personal Contract Hire (PCH) and Personal Contract Purchase (PCP)

Fundamentally, the difference between the two is that with PCP, you have the option to purchase the vehicle at the end of the contract, should you wish to do so.

Leasing a great way to get a car

Personal leasing is one of the best ways of getting a new vehicle, for the following reasons.

  • New car - every 2 or 3 years
  • Fixed cost motoring - A personal leasing rental is extremely unlikely to change throughout the contract
  • No depreciation risk - the finance company assumes the risk for any depreciation on the vehicle. If all of a sudden, the value of the car is halved - its not your problem.
  • Government policy changes to emissions - Policies are constantly changing, so do not get stuck with a vehicle which no longer fits in to the latest policy changes.

Personal contract hire specialists

At UltraCar we concentrate on Personal Contract Hire only. The application process is very simple. You just pick the make and model, or your preferred budget, and submit your completed application form.

Once the application is approved, we source the vehicle which matches closest to your car requirements, and deliver it to your front door once it becomes available.

At UltraCar, it really is as simple as that!