PCH question

[VonSenger]

Hi can anyone confirm if a Personal Contract Hire agreement shows up on your credit file?

I took out PCP last time and it almost torpedoed my remortgage so I'm reluctant to do it again. Having 24k owing on my file doesn't look good. Cheers

[spookly]

It will. But it will show up only for the total cost of outstanding payments due on the lease, rather than the entire cost of the vehicle that is usually put on file with a PCP.

[Nickp82]

Yes it does but the amount you are liable for is the sum of the payments not the value of the car so if the car is £25000 list price but you are leasing at £250 over two years the amount showing on your credit file will be 23 x £250 (£5750)

[VonSenger]

Fab thanks!

[jonwm]

I remortgaged last month and have a PCH it caused no issues

[Jefferson Steelflex]

Not entirely true, it depends on the finance company.

VWFS just shows the 23x £235 that i'm paying for my Golf
My previous contract, with Citroen Contract Motoring, showed the full cost of the vehicle. In my case it was only £12k but you get the idea.

Either one shouldn't make much difference, but as you asked the question...