John Banks Honda – Financing Your Honda
Why Choose Honda Finance?
When you decide to get a new Honda with us at John Banks Honda—whether in Cambridge, Bury St Edmunds, Ipswich or Colchester—you’re not just buying a car. You’re choosing flexible, trusted financing options via Honda Finance Europe Plc (trading as Honda Financial Services). These plans help match a finance solution to your budget and lifestyle.
Two Primary Financing Routes
Personal Contract Purchase (PCP)
A popular choice for keeping monthly payments low.
You pay an initial deposit, followed by fixed monthly payments. At the end of the term, you have three main choices:
Keep the vehicle by paying a final balloon payment (Guaranteed Future Value)
Return the vehicle (subject to condition & mileage)
Replace it with a new Honda using a part-exchange
It’s ideal if you like the flexibility of changing cars or keeping your options open.
Hire Purchase (HP)
Straightforward ownership at the end: once all payments and an option to purchase fee (if applicable) are made, you own the car outright.
No mileage restrictions like PCP, making it suitable if you drive a lot.
Monthly payments may be higher than PCP for the equivalent car, because the total cost is spread differently.
How to Get Started
Choose your new Honda model – Use our website or visit our showroom to explore the range.
Decide your budget – Think about deposit amount, term length, expected annual mileage, and monthly payment you’re comfortable with.
Select the finance plan – We’ll explain the PCP vs HP differences and help you pick what suits you best.
Apply for finance – We submit your application to Honda Financial Services. They will assess based on your status. Honda UK
Drive away your new Honda – After finance approval and paperwork, you’re ready to go.
At the end of PCP – If applicable, you decide: pay the final amount and keep it, or return/part-exchange.
Why Choose John Banks Honda for Your Financing
Over 50 years’ family-run service across East Anglia: trusted, friendly, no pressure.
Honda expertise: our sales & finance team are trained in Honda finance products and work directly with Honda Financial Services.
Local welcome, national power: you benefit from our local presence with the backing of Honda’s national finance support.
We’ll walk you through the terms, help you understand the small print (eg. mileage limits on PCP, condition standards on return) and ensure your agreement is clear from the start.
Key Things to Consider
Deposit size: A bigger deposit usually means smaller monthly payments.
Term length: Longer terms reduce monthly cost but might mean higher total interest.
Mileage allowance (PCP only): Stay within to avoid excess charges at the end.
End-of-term condition (PCP only): The car must be in fair condition subject to Honda’s standards.
Total cost: Look beyond monthly payment—see the full amount payable.
Interest rate (APR): Offers frequently vary by model and time
John Banks Honda – Financing Your Honda
Frequently Asked Questions about Finance
A: Yes—but there may be fees or you’ll need to settle remaining balance or outstanding amount.
A: Credit subject to status. You must be 18+ and meet finance provider’s criteria. We can offer a full credit search or what we call a soft search to see if you are eligible, speak to the team today or apply online via any of our stock cars from our website.
A: No (in most HP agreements) unlike PCP
A: You may have to pay excess mileage charges at end-of-term