1 Select your grade Done Edit
3 Customise your finance offer Done Edit
|Monthly payments label||£|
|On the road price||£|
|Honda deposit contribution||£|
|Total amount of credit||£|
|Option to purchase fee||£|
|Credit acceptance fee||£|
|Total amount payable||£|
|Interest rate p.a (fixed)||%|
To discuss your cash payment and any selected offers, contact your local dealer. Or if you prefer, click the button below and we'll call you.
Financial jargon, in plain English
Apologies for all the financial terms in our table – some of them are there for legal reasons and others are just shortened so they fit into the table. Please allow us to translate:
On the road price – this is the total cost of the vehicle, including the first year’s road tax and registration fee.
Customer deposit – this is the amount of money you need to pay towards the car upfront. You can adjust this using the slider at the top of the financial table.
Honda deposit contribution – this is the amount of money we will give you towards the cost of your car. It’s like a discount, really.
Total deposit – this is the Honda deposit contribution plus your deposit.
Total amount of credit – this is the amount of money you’ll be borrowing from us towards the remaining cost of your car (after you’ve paid the deposit etc).
Monthly payments – this is the important bit. You’ll need to pay this amount to Honda Finance during every month of the agreement. It’s based on the amount of money you need to borrow [see Total amount of credit above] divided by the number of months you want to spread the cost over.
Final payment – this is the amount of money you’ll need to pay at the end of your agreement, if you decide to keep your car. This is optional, which means you can choose to give the car back to us and walk away.
Option to purchase fee – this is a small fee to cover our admin costs for transferring ownership of the car to you if you decide to keep it at the end of your finance agreement.
Credit acceptance fee – this fee covers our admin costs for setting up this finance agreement.
Total amount payable – this is the amount you’ll pay, in total, including your deposit, any fees and all your monthly payments.
Interest rate – this is a fixed rate of interest you will pay on the money you borrow – it won’t change.
APR – this takes into account both the interest rate and any other fees, spread out over one year. It’s designed to make it easier for you to compare interests rates, like for like. For example, a loan with a low interest rate but a high credit acceptance fee will have a higher APR than a loan with a low interest rate and a low credit acceptance fee.
Excess mileage – this is the amount of money you will need to pay per mile over the mileage you specify when you start your finance agreement.
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