HONDA PCP FINANCE
Personal Contract Purchase is a finance product offered by Honda Financial Services that provides a flexible funding solution to get you on your new motorcycle and out on the road with monthly payments that are lower than some alternative finance products.
How it works
PCP is one of two finance products available to you from Honda Financial Services to help fund your Motorcycle.
PCP allows you to keep your monthly repayments lower by deferring a proportion of the credit to the end of the agreement, and also giving you the flexibility of 3 options at the end of the agreement.
So, how does this work?
- Firstly, choose the Motorcycle you want.
- Agree how much deposit you would like to put down.
- Then, estimate how many miles you will ride each year
- Consider how long you would like your agreement to run, between 2 and 4 years.
- We will then use this information to calculate a Guaranteed Future Value [GFV] – this is what we predict the value of your motorcycle to be worth at the end of the agreement.
- The Guaranteed Future Value is deferred until the end of your agreement.
- Your monthly payments are worked out on the difference between the GFV and the price of the motorcycle once your deposit has been taken off and interest added. This means you have lower, fixed monthly repayments.
You decide
When it comes to the end of your agreement, you will have 3 options to choose from:
Retain - You can keep your motorcycle – pay the GFV and the option to purchase fee, and you will own the motorcycle outright
or
Return - you can hand your motorcycle back to us without paying the GFV – if you have exceeded your agreed mileage or the motorcycle is not in a good condition, then there may be additional charges to pay.
or
Renew - You can part exchange your motorcycle. Then together with your Honda dealer, you can then start looking at your next Honda.
Choose the right product
PCP may not be right for you. So, check out our other finance products to make sure you choose the product that best suits your needs and then contact your local Honda dealer for more details or for a personalised quote. The product you choose should provide a monthly payment that is sustainable, whilst also meeting your needs and circumstances best. Your Honda dealer will be happy to assist you with this.
GT Motorcycles (2012) Ltd are authorised and regulated by the Financial Conduct Authority for consumer credit (our FRN is 671095 register.fca.org.uk). As an FCA-regulated credit broker we can introduce you to a selected group of lenders (a list is available on request) who may be able to help you finance your purchase. This group of lenders provides us with a range of products which may be suitable for your purchase (subject to status) we will explain the key features of those products to you. We do not charge fees for our Consumer Credit services. We may receive a payment(s) or other benefits from finance providers should you decide to enter into an agreement with them, typically either a fixed fee or a fixed percentage of the amount you borrow. The payment we receive may vary between finance providers and product types. The payment received does not impact the finance rate offered. If you ask us what the amount of commission is, we will tell you in good time before the Finance agreement is executed
All finance applications are subject to status, terms and conditions apply, UK residents only, 18’s or over, Guarantees may be required.
