Honda 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.
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
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If you use RUL to fund your motorcycle, there are no mileage limits as part of the finance agreement.
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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.
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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.
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The Total Amount Payable (TAP) is likely to be less than if you funded your motorcycle with a PCP over the same term.
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14 day right to withdraw.
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Can partially or fully settle early (subject to the terms of your agreement).
Key Considerations
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With RUL there is no deferred payment (Guaranteed Future Value), so you may pay more a month compared to PCP over the same term.
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You have none of the Voluntary Termination or Repossession rights, which apply to HP and PCP under the Consumer Credit Act (CCA)
Related FAQs
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.
Newcastle Motorcycles are licenced by the FCA (registration number 660607) as a non-independent credit broker. Newcastle Motorcycles has access to a limited number of lenders as a non-independent credit broker. Finance available subject to credit acceptance to UK residents aged 18 or over. Guarantees and indemnities may be required. Terms and conditions apply. Offer may be varied, withdrawn or extended at any time. All figures are correct at time of publication but may be subject to change. What does this mean? Essentially, we’re non-independent because we only work with a limited number of finance providers and cannot search nor advise on the whole market for your best option to fit your circumstances. What’s a credit broker? We make introductions on your behalf to a limited number of lenders, but we are not the lender itself. Meaning for example, when you take out finance on a new Honda motorcycle we may introduce you to Honda Finance Europe (the lender) and your finance agreement is between you and them. We are not an independent financial advisor. We may advise you on the products, subject to your personal circumstances, though you are not obliged to take our advice or recommendation. What about fees and commission? We don’t charge you a fee for an introduction to a lender, however the lender typically may pay us commission for a successful introduction. We do not charge you a fee for our services. Whichever lender we introduce you to, we will typically receive commission from them (either a fixed fee or a fixed percentage of the amount you borrow). The lenders we work with could pay commission at different rates. However, the amount of commission that we receive from a lender does not have an effect on the amount that you pay to that lender under your credit agreement.” All of our finance is offered at the same rate to each customer, we don’t vary the rate. How am I scored? Different lenders have different methods of scoring you for your suitability of your finance application. We are not privy to the score, nor how they arrive at it. We only get notification of an acceptance, referral or decline. If you want to speak to any of the finance providers, their details are below. If you want to make a complaint Please telephone or write to the following address in the first instance. We’ll endeavour to resolve any complaint quickly and painlessly. If you want to write to the finance houses directly, please see the details below Newcastle Motorcycles Ltd, Dealer Principal, 195-199 Scotswood Road, Newcastle. NE4 7DD Tel: 0191 282 2868
