Contract Hire
Covid-19 Update
Last updated - 3pm on 20/03/20
As a responsible lender authorised by the Financial Conduct Authority, we are watching the current situation closely and understand that many of our customers will be directly or indirectly affected by COVID-19.
All lenders during this challenging time are required under FCA rules to work with you to arrive at an arrangement that is in the interests of fair and appropriate customer outcomes.
We encourage you to make early contact with us and any other lenders if you are experiencing financial difficulty so that a suitable solution can be discussed which is appropriately tailored to your circumstances. Other organisations like the Money Advice Service may also be a good source of information and support: www.moneyadviceservice.org.uk/en.
BUSINESS CONTRACT HIRE (BCH)
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.
PERSONAL CONTRACT HIRE (PCH)
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.
How does Contract Hire work?
For customers who prefer to hire vehicles rather than own them outright, Honda Contract Hire offers tailored monthly rentals for easy budgeting.
So, how does this work?
- Choose the car you want.
- Estimate how many miles you will drive each year, as this will affect your monthly rental.
- You can then adjust length of agreement to suit you, from two to five years.
- You will have to pay an initial rental, which is normally three or six 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 of your rentals, as you can never own the car, you simply hand it back to Honda Contract Hire.*
- They will check your car and, as long as you’ve stayed within your agreed mileage over the contract term and the car is in good condition, you have nothing further to pay.
- You could then choose to go back to a Honda dealer and part-exchange it for another new Honda.
*Subject to meeting the return terms and conditions of your agreement.
Choose the right product
Contract Hire may not be right for you. So, check out our other finance products to make sure you choose the product that best suits your needs and then contact your local Honda dealer for more details or for a personalised quote.