End of agreement options
As your agreement comes to an end, you may have a number of options available depending on your finance agreement and circumstances. Explore the information below to help you understand your next steps.
Your Personal Contract Purchase (PCP) Options
Return the vehicle
As long as you're up to date with your monthly payments, you can hand your vehicle back to us without paying the final payment (Guaranteed Future Value). If you have exceeded your agreed mileage or the vehicle is not in a good condition, then there may be additional charges to pay. Please contact us on 0345 128 8909 to discuss.
Retain the vehicle
You can keep the vehicle. Pay the final payment (Guaranteed Future Value) and the £10 option to purchase fee and you will own the vehicle outright.
Renew the vehicle
You can part exchange your vehicle and subject to market conditions, this should cover off the cost of the final payment (Guaranteed Future Value). Then together with your Honda retailer, you can start looking for your next Honda.
Don't worry... we'll write to you towards the end of your agreement and remind you about the options available to you.
Vehicle condition and mileage
If you choose to return the vehicle at the end of your PCP agreement, additional charges may apply if your vehicle exceeds agreed mileage limits or falls outside fair wear and tear guidelines. Our Fair Wear and Tear Guide covers all the details.
Your Hire Purchase (HP) options
At the end of your Hire Purchase (HP) agreement you have two options:
- You can keep your vehicle, pay the final payment and the £10 option to purchase fee and you will own the vehicle outright.
- Or you can part exchange your vehicle with your Honda retailer.
Don't worry... we'll write to you towards the end of your agreement and remind you about the options available to you.
Your Restricted Use Loan (RUL) options
- With a Restricted Use Loan agreement you will be the legal owner of the motorcycle/accessories/clothing once you take delivery.
- Once you pay the final payment, your agreement with us comes to an end.
- You may choose to part exchange your motorcycle.
Don't worry... we'll write to you towards the end of your agreement and remind you about the options available to you.
Voluntary Termination (VT)
Depending on your agreement and repayment history, you may have the right to voluntarily terminate your agreement. Eligibility criteria and conditions apply.
To voluntarily terminate your agreement, at least 50% of the total amount payable under the agreement must have been paid.
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Early settlement
You can settle your agreement at any time. You can also make lump-sum repayments as often as you like. Our guide explains how this works and how to request an early settlement quotation.