Contract Hire lets you hire your Honda instead of buying it outright, it's available to both personal (Personal Contract Hire) and business (Business Contract Hire) users. It's really flexible too, so you can even change the term and mileage if your circumstances change during your agreement.
Simple, flexible and cost-effective. Contract Hire helps you get the car you want, without needing to own it outright. With agreements available for business customers, Honda Contract Hire allows you to choose the length of rental agreement that suits you – from two to five years.
If you are a VAT registered business you will be able to recover a portion of the VAT paid on the rentals.
Simply decide how much mileage you need to drive each year and how long you want to have the agreement for. Then you'll pay an initial rental, which is usually 3 or 6 rentals in advance, you can also choose to pay for an additional monthly maintenance package to cover servicing, maintenance and tyre replacement costs.
Once you've paid all the rentals on the agreement you simply hand it back to Honda contract hire, as long as the car is in good condition and you haven't gone over your agreed mileage you'll have nothing further to pay.
Personal Contract Hire provides agreements for private customers, so you can drive the car you would like without needing to own it outright. You will be able to choose the length of agreement that works for you – from two to five years – giving you a simple, flexible and cost-effective option.
As part of the contract hire agreement we'll as how much mileage you drive each year and how long you'd like to hire the vehicle for, as these will both affect the monthly payment amount. Then you'll pay an initial rental at the start of the agreement, followed by monthly payments for the duration of your agreement. At the end you simply hand the keys back, provided your within your mileage limits and the car is in good condition you'll have nothing further to pay.
Contract Hire isn't right for everyone, check out the other finance options available before making a decision to make sure there isn't another product better suited to your needs.