Honda Finance Hire Purchase (HP)

Hire Purchase is a finance product provided by Honda Financial Services. The interest rate and monthly payments are fixed at the start of the agreement, making it a straightforward way to budget for your Honda. Once all payments and the option to purchase fee have been paid, you own the car outright.

How it works

Choose the car you want and decide how much deposit you would like to pay.

Before starting the agreement, you can choose a term to suit your monthly budget, normally between one and five years.

The remaining cost of the car, plus interest, is then repaid in equal monthly payments.

Once you have made all the monthly payments and paid the option to purchase fee, you own the car outright.

You could then choose to part exchange your car for another Honda.

Things to consider

There are no mileage restrictions as part of a Hire Purchase finance agreement.

The total amount payable is typically lower than with Personal Contract Purchase over an agreement of the same term.

Because Hire Purchase does not include a deferred Guaranteed Future Value (GFV), monthly payments may be higher than with PCP.

There is also less protection against depreciation than with PCP because there is no Guaranteed Future Value.

You will not own the car until all regular payments and the option to purchase fee have been paid.

You have the right to withdraw from the finance agreement within 14 days of the start of the agreement. You can also partially or fully settle the agreement early, subject to the terms of your agreement.

For further information, please visit Honda Financial Services' Hire Purchase information.

Other Honda Finance products

Further Information

If you would like to discuss your finance requirements, please Contact our Sales Team, or call our Business Manager, Mark Hannay, on 01932 877234.