This
section of the site covers the options you have as a Business
or Private user of a Honda car, including Finance. We
appreciate that these topics can be a touch dry, so have
tried to make them as palatable as possible!
If you have any questions
regarding the topics below then please call our Business
Manager, Alan Cooper on 01293 520191.
Alan is FSA compliant and happy
to discuss any area of car finance and insurance with you. Southern Counties Honda
also comply to Honda's FINANCE FRIENDLY code of conduct,
and have some great finance products. So for those
of you who 'don't do finance' give us a call and you may
be pleasantly surprised!
Business Use:
Business Contract Hire
Lease Purchase
Hire Purchase
Opting Out of a Company Car Scheme
Hire Purchase
PCP with Honda Aspirations
Personal Contract Hire
Personal Use:
Hire Purchase
PCP with Honda Aspirations
Personal Contract Hire
Payment
Protection Plans
GAP Insurance
Business Use
Business Contract Hire
Car finance often seems complex but Honda likes
to keep things simple and easy to comprehend. Business
users can choose from a number of options depending on
whether you wish to own or lease your Honda.
Business Contract Hire is a funding method that includes
the option of a maintenance package and involves the car
being returned at the end of contract at no risk to you. Like
Lease Hire the minimum rental period is 12 months but the
maximum term is extended to 60 months (5 years).
You’ll need to cover at least 6,000 miles a year under
a Business Contract Hire deal and there’s a maximum
mileage limit of 150,000. The main benefit of Business
Contract Hire is that it’s Honda that bears the risk
of depreciation. Why not read more about Business
Contract Hire (page 9 of PDF)
Lease Purchase (page
7 of PDF) is a tax-efficient rental alternative to Business
Contract Hire. If you’re
concerned about all the terminology, see our finance
jargon buster (page 15 of PDF) which will help to make
things clearer.
If you have any questions,
please call our Business Manager, Alan Cooper on 01293
520191.
Lease Purchase
Car
finance often seems complex but Honda likes to keep things
simple and easy to comprehend. Business
users can choose from a number of options depending on
whether you wish to own or lease your Honda.
Lease Purchase (page 7 of PDF) is a tax-efficient
way of funding your company car as it offers you the opportunity
to reduce corporation tax. You’ll pay a monthly
advanced rental but if you opt for Finance Lease - full
payout (page 9 of PDF) when it comes to change your
Honda the car will be sold to a third party and 90% of
the proceeds will be returned to you, the customer. Alternatively,
you can continue to pay ‘peppercorn’ secondary
rental at 1% of the original price per annum.
Should you choose Finance Lease - full payout (page
9 of PDF), – your Honda will also be sold to a
third party and 100% of the sale proceeds will be returned
to you less residual value (customer risk/reward). All
rentals are subject to VAT, the minimum term is 12 months
and the maximum is 48 months.
There is another rental alternative which includes the option
of a maintenance package and where the car is returned to
Honda at the end of contract at no risk to the customer. For
more details see Business Contract Hire. Concerned
about all the terminology? Then take a look at our finance
jargon buster (page 15 of PDF).
If you have any questions,
please call our Business Manager, Alan Cooper on 01293
520191
Hire
Purchase
With Hire
Purchase (page 7 of PDF),
you’ll pay
a minimum nil per cent deposit, a regular monthly payment
and at the end of your term, you can pay the ‘option
to purchase fee’. Then you’ll own the car
outright. The minimum term is 12 months with the maximum
being 60 (5 years).
If you have any questions,
please call our Business Manager, Alan Cooper on 01293
520191.
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