The t&c I was shown when I bought my Jazz said that if you paid off the finance before having made 6 monthly payments the 5 years warranty, servicing and AA Hondacare would be withdrawn.
Complimentary 5 Year Service Plan Package Finance “Game”
I'm sure by now that everyone knows that if you take a minimum of £5K finance from Honda you get the £1K dealer contribution and 5 year service plan. You need to make 6x monthly scheduled payments via Direct Debit, then you can pay off the balance of the finance and only pay the interest to date on top of the outstanding balance. So, you effectively get £1,699 worth of benefits for just the extra cost of the interest. Very useful for those who would not normally touch credit.
I stumbled across this one whilst looking at other Honda forums for delay details - one for HRV owners. Original link is here...
Complimentary 5 Year Service Plan Package Finance “Game”
To summarise the thread, the original poster is saying that you can minimise the interest you pay by making a lump sum payment soon after you take delivery of the car, but before the first scheduled D/D - they saved over £200 in interest charges.
I'm planning on contacting Honda Financial Services tomorrow and giving this a go.
Has anyone already done this for a Civic?
I stumbled across this one whilst looking at other Honda forums for delay details - one for HRV owners. Original link is here...
Complimentary 5 Year Service Plan Package Finance “Game”
To summarise the thread, the original poster is saying that you can minimise the interest you pay by making a lump sum payment soon after you take delivery of the car, but before the first scheduled D/D - they saved over £200 in interest charges.
I'm planning on contacting Honda Financial Services tomorrow and giving this a go.
Has anyone already done this for a Civic?
1 - 8 of 8 Posts
Correct. Must make 6 monthly payments to keep benefits.The t&c I was shown when I bought my Jazz said that if you paid off the finance before having made 6 monthly payments the 5 years warranty, servicing and AA Hondacare would be withdrawn.
But T&C say you can pay off part of agreement without penalty. T&C also say you can pay off whole of agreement early.
Just made 6th D/D payment yesterday. Had previously paid off a lump sum and paid outstanding balance. My £1,000 dealer contribution and 5 year service plan cost me £126 in interest. Well worth it!
AFAIK Honda no longer offer this whilst demand outstrips supply.
I take it the 5 year warranty is extended from 3?
I take it the 5 year warranty is extended from 3?
I don't think it's an extended warranty, but the service plan that is five years.
If, due to "demand" Honda decides to remove the service plan, then I for one won't be buying a Civic. The service plan offer is a good incentive, but without it and considering price increases, it's not as attractive, so I'd leave it.
As things stand, I don't "need" to change vehicle, so will keep what I have for another 12 months or more and will watch how the market develops and will see what else becomes available.
I'd bet that Honda being in the production mess it's been in and with lack of clear messaging to customer / potential customers, they may have lost some folks already.
A product may be a good one, but with cars, it'll never be the only show in town, and besides, things move quickly and competition is always being introduced.
My Jazz came with 5 years servicing, warranty and AA HondaCare. All I had to do was take out the minimum finance package on which the interest is far less than the 5 year package would cost.
1 - 8 of 8 Posts
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