Personal Contract Hire is a form of car leasing for personal users. The key aspect of this is that you pay a monthly lease fee to have a new vehicle for a specified amount of time, usually between two and four years. The Finance company that delivers your vehicle to your door maintain legal ownership.

At the end of the PCH term you have the option to return the vehicle or have it replaced by another vehicle leased with a with a PCH agreement. Some finance companies will allow you to purchase the vehicle in return for a single lump payment.