Personal Contract Hire (PCH)

Individual vehicle hire contracts

This funding method is basically contract hire for the private individual. It is known by most individuals as “leasing a car”.

The customer, whilst not owning the vehicle, benefits from Network LeasePlan’s buying power to drive down the cost of the monthly rental.

Personal Contract Hire can offer a cheaper alternative to Drivewise (or “Personal Contract Purchase”) where the leasing company is benefiting from their purchasing terms with the manufacturer or chosen supplier.

Key customer benefits:

• Network LeasePlan’s buying power drives down monthly rental costs
• Fixed monthly rental that can include additional services, such as maintenance – no cashflow fluctuations
• None of the depreciation risks associated with ownership
• The convenience of a full maintenance service, at a fixed monthly cost, is optional
• Road Fund Licence is provided for the full term of the contract.

Drivewise

Personal Contract Purchase for private individuals – Cars Only

One of two funding methods which Network LeasePlan offers for private individuals who may wish to opt out of a company car scheme or would like a car for private use. Drivewise also gives the customer the benefits of leasing a vehicle along with the option to own it if they so desire.

Drivewise enables customers to upgrade to vehicles that might otherwise be unaffordable.

A guaranteed residual value is set by Network LeasePlan at the start of the contract, which gives the customer a number of options by the end, some of which are:

1. Part-exchange the vehicle and use the equity as a deposit for the next vehicle

2. Keep the vehicle by paying the outstanding residual value

3. Keep the vehicle and re-finance the outstanding value over a longer period of time

4. Hand the vehicle back to Network LeasePlan at the end of the contract

Key customer benefits:

• The customer can trade up to an otherwise unaffordable vehicle (e.g. an executive/ sports car)
• Hassle-free and cost-effective way to finance a vehicle
• The convenience of an optional full maintenance service, at a fixed monthly cost, is available.