Restricted Use Loan (RUL)
A Restricted Use Loan from Honda Financial Services helps you spread the cost of your motorcycle, accessories and clothing. You own the goods at the start of your finance agreement and have fixed repayments over an agreed term.
How RUL works
Watch our short video to learn more about RUL.
Who is RUL for
RUL may be for you if you would like to spread the cost of accessories and clothing, as well as your motorcycle and you want ownership as soon as you take delivery.
How RUL works
Step 1
Choose the motorcycle, clothing and accessories you want and agree how much deposit you'd like to put down.
Step 2
You can then adjust the term to best suit your ideal monthly budget, anywhere between twelve and sixty months. For any clothing and accessories that you decide to fund using RUL, the term of the agreement is anywhere between twelve and thirty-six months.
Step 3
The rest of the cost of the motorcycle, clothing or accessories, plus interest, is paid in equal fixed monthly payments.
A Restricted Use Loan provides you with instant ownership of the goods, as you use the funds to purchase them. You then pay all the agreed loan instalments until the loan value and interest has been paid in full.
End of contract options
With a Restricted Use Loan agreement you will be the legal owner of the motorcycle 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.
Key Features
- If you use RUL to fund your motorcycle, there are no mileage limits as part of the finance agreement.
- You take ownership of all the goods purchased at the start of your finance agreement. unlike a PCP or HP agreement our RUL is not secured against the motorcycle.
- Clothing and accessories not linked to the motorcycle can be funded using RUL. There is a maximum term of 36 months if funded separately to the motorcycle.
- The Total Amount Payable (TAP) is likely to be less than if you funded your motorcycle with a PCP over the same term.
- 14 day right to withdraw.
- Can partially or fully settle early (subject to the terms of your agreement).
Key Considerations
- With RUL there is no deferred payment (Guaranteed Future Value), so you may pay more a month compared to PCP over the same term.
- You have none of the Voluntary Termination or Repossession rights, which apply to HP and PCP under the Consumer Credit Act (CCA)
New motorcycle finance offers
View the latest offers available on our range.
Compare finance options
See how Restricted Use Loan compares to Personal Contract Purchase and Hire Purchase side by side.
Download brochure
Download our Product Guide for a full explanation of our finance products - including how they work, what to expect during your agreement and your options at the end.
Related FAQs
What can I finance using an RUL?
RUL can be used to buy your motorcycle, associated accessories and clothing, training school fees, service plans and other Honda approved products.
Can I pay off my RUL early?
Yes. You can settle your finance agreement at any time.
There is no penalty for settling early. Please call Customer Support on 0345 128 8908 and we will be happy to give you a settlement quotation.
You can make lump-sum repayments as often as you like or pay off the whole amount early. This could reduce the amount of interest due – in which case, you’ll get a rebate based on a statutory formula set out in the Consumer Credit Act 1974 (CCA).
If you have a Restricted Use Loan agreement and make a lump sum payment, you have two options: reduce the term of the agreement or reduce your monthly payments.
Can I have PCP or HP for the motorcycle and an RUL for accessories and clothing?
Yes, if this suits your personal circumstances best, you can have two separate finance agreements running together. We will assess two different credit applications, there will be two different finance agreements to sign and two separate monthly repayments.
RUL is available on used Honda motorcycles too
RUL can be used to buy a used motorcycle from a Honda dealer, along with accessories and clothing. Your dealer will be able to help you choose the right motorcycle and the right finance product for you.