Jargon Buster

Car leasing can be complicated – we understand that. So below is a list of some abbreviations or words you may come across that lack an explanation. We try to keep our use of jargon to as close to zero as possible, but just in case you come across any we have compiled a handy list for you

PCH

Personal Contract Hire or more commonly known as car leasing. This is what we call what the agreement is.

BCH

Business Contract Hire or more commonly known as car leasing. This is what we call what the agreement is.

PCP

Personal Contract Purchase. This is the agreement where the driver owns the car at the end.

Balloon Payment

Typically a larger payment at the end of the contract.

MPG

Miles per gallon. A measure of how much fuel a car uses.

G/km

A measure of vehicle emissions.

VAT

Value added tax. Currently 20%.

Road Fund License

More commonly known as car tax.

Initial Payment

What the first payment will be. Not to be confused with deposit. Non refundable.

Arval

A finance company

Lead time

The time between making an order and taking delivery.

Non/Spec Amendable

If the car is not spec amendable it means it has been built and can’t be changed. If it is spec amendable we can customise it for you.

Documents

Proofs and information we need.

Dealer

The place where the car is at

Admin/doc Fee

For details on this click here.

Total Repayable

How much you will pay as a total. More details here.

Bedroom Broker

An individual brokering leasing deals. May not be regulated and risky.

Initial Payment

Your first payment to the finance company. Not a deposit. More details here.

Contract Length

How long you will be leasing the car for. Typically 24, 36 or 48 months. More details here.