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Honda Tempts New Riders with All-In Finance Package

The BMF has welcomed Honda’s New Rider Programme, which aims to simplify the process of getting on the road as well as spreading the cost.

The new package seeks to tempt novice riders into motorcycling with an all-in-one finance package which includes a new bike, training, and riding kit. The company hopes that, as well as spreading the sometimes-daunting upfront costs over a longer period, this all-in-one package will simplify the whole process of getting on the road for the first time.

The New Rider Programme is being offered by the Honda School of Motoring, which can provide tailored packages to suit complete beginners or those who already have their CBT or A2 licence and want to progress. Instruction takes place at one of the School’s branches in the UK, with the nearest Honda dealer organising the new bike purchase.

Applicants can sign up for any bike in the Honda range apart from the latest Fireblade and Gold Wing (probably wise, given that they could be complete beginners). Honda quotes the example of a new CB750 Hornet bought on PCP, which would come in from £134 a month including training, test fees and a complete set of riding kit. That’s based on a 37-month PCP deal on the bike, and 36 months at £44.83/month on the training and kit. Of course, you’re paying interest on all this (over 9%) but it does spread the upfront costs over three years.

BMF Chair Jim Freeman thought the New Rider Programme was well worth supporting. “In the car world the PCP has become the default for buying new vehicles, especially with Evs, this simply transfers the concept to riders. £134.00 for 3 years on a 750 sounds like an excellent deal, even if the interest is over 9%. With inflation, that makes financial sense to me, why pay cash, upfront, when you can depreciate the cost over 3 years? I would like to know more about the end of contract T&Cs, which if car PCPs are a benchmark, need to be thoroughly understood before committing.”

Written by Peter Henshaw

Top image courtesy of Honda