With monthly car finance payments available, there's every chance you could be choosing a higher grade model than you imagined. When it comes to buying your car, we want you to have a choice of your favourite model AND how to pay for it.
Read more about our options and watch the accompanied videos below.
Personal Contract Purchase
Choose your desired vehicle, along with a deposit, the length of the agreement and a maximum mileage. At the end of the period you have the option to buy the car outright for an agreed amount, known as the GMFV (Guaranteed Minimum Future Value), or return the vehicle back to the lender (within agreed fair wear and tear limits) with absolutely no further obligation.
Benefits of Personal Contract Purchase
Opportunity to drive a new Honda more often
Flexible repayment terms.
Usually a lower repayment, compared to a HP agreement with the same term
Protection against depreciation of used car prices, with the assurance of GMFV
The options to renew, return, or own the vehicle at the end of the agreement
At the end of the agreement you may choose from the three following options:
Option 1 - Renew your vehicle and drive away in a brand new Honda. Use any excess value over the GMFV as deposit on your new vehicle.
Option 2 - Return the car. Providing the vehicle does not exceed agreed fair wear and tear limits and has not exceeded the agreed mileage, you having nothing more to pay.
Option 3 - Retain your vehicle. Pay the GMFV and you own the vehicle.
Hire Purchase (HP)
This is the traditional package which involves taking the total cost of your chosen vehicle, deducting a deposit amount, and then choosing the length of the agreement. Interest is added, and monthly instalments are calculated. Assuming all payments are met, at the end of the agreement, the vehicle is yours.
Benefits of Hire Purchase?
Regular and flexible repayment terms from 12 to 60 months
You own the vehicle at the end of the agreement
Business Contract Hire
Simple, flexible and cost-effective. Contract Hire helps you get the car you want, without needing to own it outright. With agreements available for business customers, Honda Contract Hire allows you to choose the length of rental agreement that suits you – from two to five years. To find out more, watch our BCH video by clicking on the button above.