A form of leasing popular in the UK for financing cars. This service is often used by companies. When individuals use the service it is called “Personal Contract HireSee “Contract Hire”... More” or “PCH”. This financing service strongly resembles “operational leasing”. The contract stipulates an initial deposit, which may be returned if no penalties are charged. Early termination is usually costly. Typical duration is between 24 and 48 months. There is an annual mileage limit. The lesseeThe lessee is the user of... More has to return the car to the lessorOne of the parties to the... More upon expiration of contract. Vehicle must be in good condition or penalties are imposed.
