Honda Financial Services is part of the Honda Motor Company. Our sole purpose is to provide simple, flexible and convenient finance to Honda customers for their Honda products.
Saving to buy a car isn't an easy job. But by paying affordable monthly payments, you'll be even closed to getting your desired car - not only sooner than expected but even an higher grade than you first set out to get.
We want to ensure buying a car is a hassle-free experience and that not only starts with freedom of choice of car, but also a choice of how to pay for it.
Watch the video and read more about our options below.
With PCP you can choose the perfect vehicle for you, as well a deposit and the length of the agreement. And, you can even decide upon the maximum mileage. Once the period is over, you will then have the option to purchase the car outright for an agreed amount, which is known as the Guaranteed Minimum Future Value, or just GMFV. Or, if you don’t want to buy the car outright, you can always just return it to the lender (within agreed fair wear and tear limits) with absolutely no further obligation.
Once the agreement is complete, you may choose from the three following options:
Option 1 - If you decide to renew, then you can drive away in a brand new Honda. And, you can use any excess value over the GMFV as a deposit on your new vehicle.
Option 2 - Providing the vehicle is in a good condition and doesn’t exceed the agreed upon fair wear and tear limits and the agreed mileage, you have nothing more to pay and can simply return the vehicle.
Option 3 - You can also choose to retain your vehicle. Pay the GMFV and you it's yours to own.
Personal Contract Hire from Norton Way Honda is a contract hire agreement which is suitable for renting selected Honda's that are supplied by us.
At no point will the vehicle belong to you with this agreement, so you won’t be able to go on to sell it. This agreement is mileage based and it is important that it reflects your predicted annual mileage.
With PCH from Norton Way Honda you will end up paying an agreed number of advance rentals along with the VAT followed by remaining rentals plus VAT for the contract term. Then, the vehicle should be returned to the finance house.