Car Leasing Blog

Well sort of…..Most contract hire agreements have an option called contract novation. This means a contract can be transfered to another party before the end of the contract.

This allows you to get rid of your lease contract earlier than expected.

To aid this process, we have now created a forum with a lease transfer section. All you need to do is register and upload the details of your existing lease.

Once uploaded, one of two things will happen. Either we will contact you and let you know someone is interested, or they will go online and see your lease available and quite possibly make contact.

The service is completley free to use, so why dont you give it a try.

http://www.carleasingblog.co.uk/forum

Personal Lease Hire is a commonly used phrase for personal leasing.

Basically, it falls into two different catagories

Personal Contract Purchase ( or PCP)

This is a regulated hire purchase agreement which normally needs to be signed on trade premises.

It encompasses a fixed rental (which includes VAT) over a fixed term and fixed mileage. Once the term has completed there is an option to return the vehicle to the funding company or pay a final payment to own.

Very importantly, should you wish to return the vehicle (which most people do) you should notify the finance company before the end of the contract.

More information on PCP Contracts can be found here

http://www.carleasingblog.co.uk/2007/11/09/pcp-contract-information/

Personal Contract Hire ( or PCH)

Personal contract hire is very similar to conventional contract hire. Once again fixed term, fixed mileage, fixed price.

One of the benefits is that PCH normally will provide road fund licence (road tax) for the term of the contract.

Also, there is no need to notify the leasing company to return the vehicle - they will contact you.

More information on Personal Leasing and PCH can be found here

http://www.carleasingblog.co.uk/2007/10/22/personal-car-leasing-top-10-tips/