Honda Finance Explained
Understanding all the options for car finance can be a bit tricky, especially if it’s the first time you’ve ever taken out a finance agreement.
Let’s go through the options for you and your next Honda vehicle...
There are a couple of types of car finance to consider, with each working slightly differently to suit a variety of needs.
To help you get to grips with each type of finance, we’ll cover what you need to know about HP, PCH and PCP finance, so that when you’re ready to buy a new or used Honda, you’ll know exactly which one you want and why. Ready to get started?
Personal Contract Purchase
What is a PCP?
Personal Contract Purchase (PCP) is one of the most popular finance options that customers choose.
That’s because it offers a flexible funding solution and can offer lower monthly payments than some alternative finance products.
You can take a PCP agreement out on a new or used Honda vehicle, and the Guaranteed Minimum Value (GMFV), deposit amount and the fixed monthly payments will be determined once the mileage limit and agreement length is decided.
Watch this helpful video to learn more:
The Benefits of PCP
- You have various options at the end of the agreement
- The deposit contribution helps to lower your monthly payments
- You can cancel your PCP agreement early
For more information and to find out if a PCP agreement is the right choice for you, enquire online or give us a call, where one of our friendly team members will help you get started.
Contact Your Nearest Vertu Honda
Personal Contract Hire
What is a PCH?
Personal Contract Hire (PCH) allows you to hire your Honda instead of buying it outright.
It’s flexible too, which means you can even change the term and mileage if you find your circumstances change during the agreement.
Watch this helpful video to learn more:
The Benefits of PCH
- Flexible agreement that can be altered if your circumstances change
- Upfront and affordable maintenance packages available
- Nothing further to pay at the end of your agreement
For more information and to find out if a PCH agreement is the right choice for you, enquire online or give us a call, where one of our friendly team members will help you get started.
Contact Your Nearest Vertu Honda
Hire Purchase
What is a HP?
Hire Purchase is another popular finance option for many motorists; it is the simplest and most straightforward way Honda Financial Services can help you to fund your new Honda.
It’s a super easy option to follow. Drivers pay a deposit followed by monthly payments. The interest rate and monthly payments are fixed for the duration of the agreement and when the last payment is made, the car is all yours.
Watch this helpful video to learn more:
Benefits of HP
- You can become the owner of the vehicle at the end of the agreement
- A great option for businesses
- You can cancel your HP agreement early
For more information and to find out if a HP agreement is the right choice for you, enquire online or give us a call, where one of our friendly team members will help you get started.
Contact Your Nearest Vertu Honda
At Vertu Motors, we aim to help you find your ideal Honda car, at a price and payment plan that suits you best.
If you have any further questions regarding finance, please download the Honda Finance Explained brochure below or don’t hesitate to get in touch.
If you haven’t yet started your search for your new Honda, you can shop our new, used and Honda Approved Used stock right here online: