P - PCH
PCH (Personal Contract Hire) - Rather than buying cars, many company fleets opt to hire them, paying a series of regular monthly payments. Personal Contract Hire is the same kind of scheme but for the private motorist.
Servicing and maintenance bills can be included in the monthly payment, so running a car on PCH should appeal to those looking for a hassle-free way to run a car.
However, a PCP offers similar benefits, as well as the chance to buy the car at the end of the contract, so PCH remains fairly rare.