One qualification to this summary is that you can still buy the vehicle at the end of a personal contract hire contract if the leasing company agrees to this. They should give you a purchase price to buy as the driver of the vehicle as all they are going to do is to take it to auction and sell it.

They should therefore offer you a price to buy based on their forecasted disposal value. It's just that you don't get a guaranteed value at the beginning of the contract. However this will depend on each leasing company.

Hope this helps.