Reading this article and speaking from experience (having just completed my first personal lease), with the corporate fleet market in decline, I can understand why leasing companies are looking at the emerging personal contract hire (PCH) market to pick up on their shortfall.
Private individuals are the target and with the likes of LeasePlan, Arval, Zenith & Inchcape now putting their focus on PCH, it’s easy to understand why, as they’ll now be able to target all employee’s within a fleet customer who are not on a company car scheme, opening them up to 1000’s more potential customers. This is how it’s worked for many brokers, as they’re used to targeting the public, those on cash allowances and the end user fleet customers.
Online presence and social media activity will definitely play a major role in attracting the public to the PCH deals which will ultimately change the way we buy our cars, mirroring how we make our other online purchases through the likes of Amazon & ASOS which can only be a good thing.
I can vouch for this – I ordered my car online. Two phone calls later. Hello new car!
FN50 leasing companies are lining up to exploit an emerging market sector which will change the shape of the leasing industry – personal contract hire (PCH). As the company car sector faces continued uncertainty due to a combination of macro and micro economic and political influences, contract hire companies are turning to alternative opportunities to sustain their growth aspirations.