Personal Lease, commonly referred to as Personal Contract Hire, is a simple lease agreement that gives you the ability to regularly change cars and avoid the decreases in value that owning a car outright normally results in.
Similar to a standard home rental contract, there is no option to buy the vehicle at the end of your term. You simply hand it back to the rental company and are then free to enter another agreement. Do watch out for any damage made to the vehicle during your contract, as you may be charged for this by the rental company when you return the vehicle.
When entering a lease agreement, you will asked to choose your desired term length and anticipated annual mileage. A combination of these factors will determine the cost of the monthly payments.
A benefit of Personal Lease is that your Road Fund License will be paid for throughout the duration of your lease, and all Flexible Personal Lease plans at Vauxhall come with AA Roadside Assistance provided for the first year of your lease, with the option also of adding regular vehicle maintenance to your contract.