Personal Contract Hire – Why and When?

Owning a car those days is nothing strange. Most of the people are living a dozen of miles from their every day job place or location and they need a personal transportation from their home to their job and vice-verse. There are many people who need their personal car for fulfilling their professional duties. Except this – many people need a personal transportation for a shopping, taking/picking kids to and from the school, going to shop, fitness club and many other professional and personal needs.

The ideal solution for a private individual who need personal vehicle is to buy a new one. But we all know how hard is to buy a new car and pay the whole price tag. For people who do not have all money to buy their next car, they can choose to take a loan, to lease the car or to have a personal contract hire.

Personal contract hire is a financial instrument where most of the individuals with a decent salary can afford to have and use a new car. Of course some of the people do not like to get into any financial matters and debts and they prefer to buy an old car instead to take a loan and buy new car or to lease / get car with a contract hire.

Let see for a moment what are the benefits of taking a personal contract hire V.S. buying an old car?

Buy buying an old car, you actually do not know what you are buying. Most of the people do not have sufficient knowledge to inspect the car and decide which one is good to buy and which one is just a trash. Old cars are more fuel demanding than the new ones. With old cars you always need to have some budget for minor fixes and repairs. And the most important thing – You are driving an old car.

Now let see what you can get if you choose to have a personal contract hire: As an example car I am choosing Citroen DS3 diesel. DS line is a luxury line form the well known and respected french car producer. Citroen DS3 with a powerful 1.6 hdi motor is a perfect B segment car and can fulfill all everyday commuting and transportation needs. This new car can be hired for less than 200 pounds per month. So what you get by having this DS3 baby? Modern, powerful, eye catching, green car, which you will be proud to park in your drive way.

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Of course bu signing a personal contract hire you will have a fixed monthly fees for renting, and the terms are flexible so you can tailor the whole contract to suit your needs. You can choose a many different duration terms and to specify how many miles you will drive your hired car. The fee which you will pay every month can include the maintenance fees, or you can choose different kind of agreement without maintenance fees. Usually most of the personal contract hire are choosing fixed monthly fees with included maintenance fees.

One of the most important things you need to have in mind when you signing a personal contract hire is – You do not have depreciation risks, because you use and drive new car which you actually do not own. You do not need to care when and where to sell my old vehicle or how much I will need to spend on maintenance when my new car will get old. All you need to do is to choose another new car when your current contract expire.

I know most of the people do not read and are making ill informed decisions, but I hope you are not one of those individuals. By having yourself well informed you can save a lot of money and actually live a better life. If you need to get a car soon, inform yourself well in order to make the right decision.

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