Personal Contract Hire allows you to drive a new vehicle for a set time, usually between 2-4 years, by paying fixed monthly rentals until your contract ends. When the contract ends, you simply return the vehicle, and you can choose the latest model, just like you would a mobile phone contract. Personal Contract Hire includes VAT in the price.

Leasing is an increasingly common alternative to buying a car outright and removes the need to use other costly financial options, such as taking out a personal loan. Also, with the rate that Electric Vehicles are developing, leasing rather than buying is a great option.

Essentially the only difference between Personal Contract Hire and Business Contract Hire is how the vehicle is used. PCH covers personal use vehicles while BCH covers business vehicles, although a BCH contract may also allow you to use the car for personal use.

Both types of contract offer a choice of vehicles and versatility regarding initial rental payments and monthly expenditures. To apply for BCH, you must be a financially eligible sole trader, partnership, or limited company.

For VAT registered businesses, you can claim back a percentage of the VAT on the monthly payments (depending on the vehicle type) and 100% of the VAT for the maintenance agreement.

• The initial rental payment is usually a smaller amount than in other types of finance agreement or personal loan.
• Monthly payments are typically low
• Greater affordability means the potential to drive a higher specification vehicle (compared with some other financial options available)
• Knowing your set monthly payments in advance can help you budget better
• Road fund license or tax is provided.
• Manufacturer’s warranty is included
• Energy for the lifetime of your lease from the GRIDSERVE network is included.

• You don’t own the vehicle, and there’s no option to buy at the end of the contract.
• The annual mileage needs to be estimated at the start of the contract; exceeding this figure will incur charges.
• Terminating the lease early may incur charges.
• The vehicle must be maintained and any damage beyond Fair Wear and Tear may incur penalties.
• WILL MY CREDIT HISTORY BE CHECKED?
• It is much easier to lease a car if you have a healthy credit status, and Hitachi Capital Vehicle Solutions (HCVS) will walk you through the process.
• The credit check to assesses your past and present financial circumstances, your credit strength, and risk status. This sounds scary but is a relatively quick and easy process.

It is much easier to lease a car if you have a healthy credit status, and Hitachi Capital Vehicle Solutions (HCVS) will walk you through the process.​

The credit check to assesses your past and present financial circumstances, your credit strength, and risk status. This sounds scary but is a relatively quick and easy process.

The amount you can borrow will depend upon your credit score, the size of the deposit you wish to put down, and your ability to afford the repayments. If you’d like to discuss how much you can borrow in more detail, then we can put you in touch with one of our experts at Hitachi Capital Vehicle Solutions (HCVS).

The exact initial rental payment will be tailored to you. The higher the upfront payment, the lower your on-going monthly amounts will be and vice versa. Most of our deals are structured with an initial rental payment equal to 3, 6, or 9 month’s worth of monthly payments; however, you can adjust this up and down to find the rate that works best for you.

 GRIDSERVE partner with Hitachi Capital Vehicle Solutions (HCVS), who supply all our financing deals.

It is crucial you make your monthly payment on time, as this could affect your credit rating. If you experience any problems in making a payment, please contact Hitachi Capital Vehicle Solutions (HCVS) immediately, and they will work with you to help resolve your payment issue.

If you wish to cancel your lease and return your vehicle before the end of your contract, you can do this, but you will incur an early termination fee.

• Total Cost of The Vehicle
• Some manufacturers and models are more expensive than others. If you choose a premium vehicle, your monthly payments will be higher.
• Size of Your Deposit
• The initial rental payment is usually 3, 6, or 9 months’ worth of your deal’s monthly payments. Simply put, the more you pay in this initial rental payment, the lower your monthly payments will be.
• Expected Depreciation and Mileage
• Every car loses value over time, and your lease cost will be calculated to take this into account. So, this means how many miles you plan to do and how long you want to keep the car will also be factored into the cost.

Maintenance costs are considerably lower than that of a diesel or petrol car. An electric motor has far fewer moving parts than a combustion engine, which means there is less wear and tear.