When it comes to securing a car, many individuals often consider personal contract hire (PCH), which involves leasing a vehicle for a fixed period of time, typically two to four years. This arrangement enables drivers to enjoy the benefits of owning a car without the responsibility of outright purchasing and maintaining it. But the question remains: can you get PCH on used cars?
The answer is that it depends on the dealership and their policies. While the majority of PCH deals are offered on new vehicles, some dealerships may have options for used cars. However, the inventory of used cars available for PCH may be limited, and the terms and conditions may differ from those of a new car lease.
One of the main factors that determine whether or not a dealership offers PCH on used cars is the age and mileage of the vehicle. Typically, dealerships will only offer PCH on used cars that are less than three years old and have low mileage. This is because older cars are more likely to have maintenance issues, which can be costly to the dealer and the lessee.
Another factor to consider is the residual value of the car. The residual value is the estimated worth of the vehicle at the end of the lease term. Dealerships will typically only offer PCH on cars with high residual values. This is because these vehicles retain their value well, which reduces the risk to the dealership and allows for more favorable lease terms for the lessee.
It is worth noting that PCH on used cars may not be available for all makes and models. Dealerships may only offer PCH on vehicles that are in high demand or have a proven track record of retaining their value. This means that lessees may not have as much choice when it comes to selecting a used car for PCH.
In conclusion, while it is possible to get PCH on used cars, it is not as common as it is for new vehicles. Lessees who are interested in PCH on used cars should do their research and inquire with dealerships about their policies and available inventory. Ultimately, the decision to lease a used car comes down to personal preference and financial considerations.