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Restricted Use Loan (RUL)

Restricted Use Loan is a finance product from Honda Financial Services to help finance accessories, clothing or even your new Honda bike. It allows you take ownership of the goods from the start of your agreement.

More manageable than you might think

So, how does this work?

  • Choose the motorcycle, clothing and accessories you want.

  • Once you’ve decided what products you would like to finance, agree how much deposit you’d like to put down.

  • You can then adjust the term to best suit your ideal monthly budget, anywhere between twelve and sixty months.

  • The rest of the cost of the motorcycle, clothing or accessories, plus interest, is paid in equal monthly payments.

  • A Restricted Use Loan provides you with instant ownership of the goods, as you can 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.

There are some aspects of Restricted Use Loan that you need to be aware of to help you make an informed choice to decide if RUL is right for you.

Choose the right product

Restricted Use Loan may not be right for you so please review our other finance products or speak to your Honda dealer, to make sure you choose the right product to suit your needs.

It is important that the product you choose should provide a monthly payment that is sustainable, whilst also meeting your needs and circumstances best. Your Honda dealer will be happy to assist you with this.

Product Features and Considerations 

There are some aspects of Restricted Use Loan (RUL) that you need to be aware to help you make an informed choice to decide if HP is right for you.

  • If you use our RUL to fund your motorcycle, there are no mileage limits as part of the finance agreement.

  • If you use our RUL to fund your motorcycle, the Total Amount Payable (overall cost) is likely to be lower than PCP on an agreement over the same term.

  • You have the right to withdraw from your RUL agreement within 14 days from the start of your agreement. You can also partially or fully settle your agreement at any time (subject to the terms of the agreement).

  • You take ownership (title) of any goods purchased with the loan at the start of the agreement, not when you make the final payment.  Unlike a PCP or HP agreement, our RUL is not secured against the motorcycle.

  • If applicable, clothing and accessories not linked to the motorcycle can be included or funded separately using our RUL Product.

  • RUL may be more suitable for funding your motorcycle if you plan to use the motorcycle for delivery work and are not eligible for our Hire Purchase or Personal Contract Purchase products.

  • To keep monthly payments down, you may need to take your loan over a longer term

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Rider Motorcycles Limited trading as Wheels Motorcycles and Wheels Honda is an appointed representative of ITC Compliance Limited which is authorised and regulated by the Financial Conduct Authority (their registration number is 313486). Permitted activities include advising on and arranging general insurance contracts and acting as a credit broker not a lender.

We can introduce you to a limited number of finance providers. We do not charge fees for our Consumer Credit services. We may receive a payment(s) or other benefits from finance providers should you decide to enter into an agreement with them, typically either a fixed fee or a fixed percentage of the amount you borrow. The payment we receive may vary between finance providers and product types. The payment received does not impact the finance rate offered.

All finance applications are subject to status, terms and conditions apply, UK residents only, 18’s or over, Guarantees may be required.

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