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Personal Contract Hire

  • 29-04-2016 9:51pm
    #1
    useless
    Registered Users, Registered Users 2 Posts: 788 ✭✭✭


    Is there anyone (dealer, finance company) offering Personal Contract Hire (not PCP) in Ireland?
    From my reading of it on various UK sites, you pay a monthly charge for the use of the car for 24-36 months, then hand the car back. The key difference between it and PCP seems to be a smaller upfront deposit and no GMFV, ie no option to buy the car at the end of the term. I imagine it's not the cheapest way to finance a car but it offers the punter certainty on monthly payments and allows them to get into a new car every 3 years for a monthly cost less than HP or perhaps even PCP?
    I know you can hand back the car after 3 years on PCP, but the numbers are usually set so that you have equity in the car so handing it back is akin to setting fire to money...
    Just curious as PCH doesn't seem to have taken off here as a financing method.


Comments

  • #2
    R.O.R
    Registered Users, Registered Users 2 Posts: 12,712 ✭✭✭✭R.O.R


    useless wrote: »
    Is there anyone (dealer, finance company) offering Personal Contract Hire (not PCP) in Ireland?
    From my reading of it on various UK sites, you pay a monthly charge for the use of the car for 24-36 months, then hand the car back. The key difference between it and PCP seems to be a smaller upfront deposit and no GMFV, ie no option to buy the car at the end of the term. I imagine it's not the cheapest way to finance a car but it offers the punter certainty on monthly payments and allows them to get into a new car every 3 years for a monthly cost less than HP or perhaps even PCP?
    I know you can hand back the car after 3 years on PCP, but the numbers are usually set so that you have equity in the car so handing it back is akin to setting fire to money...
    Just curious as PCH doesn't seem to have taken off here as a financing method.

    As far as I'm aware, no one is doing personal contract hire in Ireland. Might be worth a call to one of the smaller leasing companies on Tuesday - Jensen Fleet &Haines Fleet are the 2 that spring to mind.


  • #3
    Damien360
    Registered Users, Registered Users 2 Posts: 6,782 ✭✭✭Damien360


    My brother in UK has one of those deals. Nissan Juke for 2 years at £40 a week. Includes tax, repairs, tyres etc. Limited to 10,000 miles per year. He pays for fuel and insurance. He has changed 3 times with no funny gotcha clauses.


  • #4
    Esel
    Registered Users, Registered Users 2 Posts: 23,090 ✭✭✭✭Esel
    Not Your Ornery Onager


    Damien360 wrote: »
    My brother in UK has one of those deals. Nissan Juke for 2 years at £40 a week. Includes tax, repairs, tyres etc. Limited to 10,000 miles per year. He pays for fuel and insurance. He has changed 3 times with no funny gotcha clauses.

    That's a great deal!












    Apart from Juke... :)

    Not your ornery onager



  • #5
    jca
    Closed Accounts Posts: 8,585 ✭✭✭jca


    Damien360 wrote: »
    My brother in UK has one of those deals. Nissan Juke for 2 years at £40 a week. Includes tax, repairs, tyres etc. Limited to 10,000 miles per year. He pays for fuel and insurance. He has changed 3 times with no funny gotcha clauses.

    That would be brilliant. I couldn't see myself driving a Duke though.


  • #6
    Guy:Incognito
    Registered Users, Registered Users 2 Posts: 38,247 ✭✭✭✭Guy:Incognito


    jca wrote: »
    That would be brilliant. I couldn't see myself driving a Duke though.

    You would'nt get royalty for that money anyway, you'd be looking at at least £100.


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  • #7
    jca
    Closed Accounts Posts: 8,585 ✭✭✭jca


    Guy:Incognito wrote: »
    You would'nt get royalty for that money anyway, you'd be looking at at least £100.

    I know that. It is Ireland after all.


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