How It Works
PCP is one of three finance products available to you from Honda Financial Services to help fund your car.
By deferring a portion of the credit to the end of the agreement, PCP allows you to keep your monthly repayments low and gives you flexibility for three options at the end of the agreement.
So, how does this work?
- Choose the car you want
- Agree on the deposit you will put down
- Estimate your annual mileage
- Decide how long your agreement will run (2-4 years)
- We will calculate a Guaranteed Future Value (GFV) to predict the value of your vehicle at the end of your agreement
- The GFV is deferred until the end of your agreement
Your monthly payments are calculated by finding the difference between the GFV and the price of your car, once the deposit is taken off and the interest is added. This means you have lower and fixed monthly payments.