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Business Contract Hire (BCH) is a fixed term and mileage-based agreement for the hire of a car or van for a period usually between 2 and 5 years.
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Personal Contract Hire (PCH) is a fixed term and mileage-based agreement for the hire of a car for a period usually between 2 and 5 years.
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Contract Purchase (CP) is a fixed term and mileage-based agreement which gives you the option to purchase the vehicle.
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Personal Contract Purchase (PCP) is a fixed term and mileage-based agreement which gives you the option to purchase the vehicle.
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Personal Operating Lease (POL) agreement is very similar to a Personal Contract Hire agreement, in that it is a fixed term and mileage-based agreement for the hire of a car or van for a period usually between 2 and 5 years.
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Finance Lease (FL) is often used for LCVs (light commercial vehicles) and is a fixed term rental agreement where the vehicle remains the property of the finance company and you have the use of the vehicle.
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Hire Purchase is a traditional finance method for people who are looking to acquire a new vehicle.
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Lease Purchase (LP) is very similar to Hire Purchase, but with the addition of a larger final payment.
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Outright purchase is the method of paying for a vehicle in full with one payment.
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Operating Lease (OL) agreement is a fixed term and mileage-based agreement for the hire of a car or van for a period usually between 2 and 5 years.
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