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Personal Contract Purchase (PCP) is like a lease-to-own plan for a car. You pay a deposit and monthly instalments for a set period. At the end, you can either pay a larger final sum to own the car, return it, or trade it in for a new one.
Personal Contract Hire (PCH) is purely a leasing agreement for a car. You pay a deposit and fixed monthly rentals for a set period. Unlike PCP, there's no option to buy the car at the end. You simply return it when the contract ends. Think of it like renting a car long-term.
Business Contract Hire (BCH) is essentially car leasing for businesses. Your company pays fixed monthly rentals to use vehicles for an agreed period, typically two to five years. At the end of the contract, the vehicles are returned, and there's no option to purchase them. It's a way for businesses to access new vehicles without the long-term costs and responsibilities of ownership.
The Motability Scheme Price List allows eligible disabled individuals to lease a brand new MG car by exchanging their qualifying mobility allowance. This worry-free package includes insurance, servicing, maintenance, and breakdown cover for the duration of the lease, typically three years. To qualify, you need to receive a qualifying mobility allowance, like the enhanced rate of PIP or the higher rate of DLA, with at least 12 months remaining.
