Honda launches PCP offering
Personal contract plans, or PCPs, have grown in popularity in the last few years and Honda is the latest to join the bandwagon with a new package labelled 'Honda Now'. The finance is available across the Honda line-up and starts at just €199 per month for the Jazz supermini; the Civic is available from €259 per month while the CR-V 1.6 i-DTEC is available from €369 and the Accord saloon €399.
PCP packages differ from traditional hire purchase agreements in that they take deprecation into account. After paying a deposit of between 10- and 32 per cent customers will receive an agreed value on the car at the end of the three-year finance term and make monthly repayments based on this agreed value.
At the end of the three-year term customers can either hand the car back and walk away, keep the car and finance the remaining balance, or trade in their car for a newer model.
"With our Honda Now finance plans, our key aim was to bring simplicity to what is still a very new concept to Irish car buyers," said Adrian Cole, Managing Director of Universal Honda Ltd at the launch of 'Honda Now'.
"We wanted to show that there is a 'Honda Now' plan to suit many pockets, with options available that facilitate smaller deposits, or manageable monthly payments. Buyers can now purchase a new Honda with deposits as low as €2,000 or monthly payments as low as €199 a month."
"We have designed our finance plans to be as transparent and as easy to understand as possible for the customer. Our guaranteed minimum future values have been set at very realistic levels for added peace of mind, while the annual mileage allowance factored into our plans is one of the highest in the market place."
"We believe that 'Honda Now' represents a new and simple way for Irish drivers to buy a new car and we look forward to introducing the concept to prospective customers visiting Honda Showrooms nationwide."
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