How does it work?

Personal Contract Hire.

At the end of your contract you simply hand the car back (subject to fair wear and tear and mileage). There is no option to own the car at the end.

You then decide how long you'd like the contract to run. This, along with an agreed annual mileage rate, will determine your monthly rental payment.

You select your car and the number of initial rentals you would like to make (usually the equivalent to 3 or 6 monthly rental payments).