NB: Personal van leasing is not available on every product as this funding solution is only available through selected finance providers.
Different personal van leasing contracts available
Personal Contract Hire (PCH) is a popular long-term lease agreement for private individuals. With PCH, you pay for the use of the vehicle throughout your contract, then return the car to the finance company at the end of the agreement without any further obligations. PCH is similar to Business Contract Hire (BCH) but as an individual you will not be able to recover any VAT or take advantage of any tax allowances.
Personal Contract Purchase (PCP) is a vehicle finance agreement which gives you the option of purchasing the vehicle at the end of the agreement. With PCP, you pay an initial rental, followed by a series of monthly rentals for the duration of your agreement. At the end of the contract, you can either buy the car outright for an agreed lump sum or hand the vehicle back to the finance provider without any further obligations. Monthly rentals depend on the value of the vehicle, the length of the contract, the agreed mileage and the guaranteed residual value.
NB: Personal Contract Purchase (PCP) agreements are not available with Nationwide Vehicle Contracts.
Personal Lease Purchase is a popular finance option for customers who want to own the van but cannot access sufficient funds to pay for the new van outright upfront. With Personal Lease Purchase, you pay an initial deposit followed by a series of monthly payments, then a ‘balloon payment’ at the end of the contract to own the vehicle. As Personal Lease Purchase is purely a finance package, it does not include maintenance or other added-value services such as those offered with Personal Contract Hire (PCH).
NB: Nationwide Vehicle Contracts does not offer Personal Lease Purchase agreements.