Why Honda
Table of Contents
- Why Honda
- I like to buy British!
- Why should I buy a Honda?
- Financial strength
- A new Honda is far more expensive than my last MG Rover cost me!
- Retail price paid is not the whole story...
- Honda cars hold their value better...
- Honda cars are more reliable...
- Honda Accord vs. Rover 75 Whole Life Costs
- How can I afford a Honda when I have an MG Rover to part exchange?
- Trident still accepts MG Rover cars for part-exchange against new and used Honda's
- Highly competitive Personal Contract Purchase package
- Next steps
I like to buy British!
Honda builds more cars in the UK than MG Rover did
Honda builds more cars in the UK than MG Rover did . In 2004 MG Rover built 120,000 cars in Longbridge, whilst Honda built over 200,000 cars in Swindon; employing 4,000 British staff. Honda does not just "assemble" cars in the UK - all cars are fully built in the UK, with a high proportion of components being sourced from the UK.
Honda in the community
Honda has never received nor sought any financial support from the British government; it is a Honda policy to build cars where they sell them and ensure they put value back into the community, rather than seeking subsidies from governments.
Why should I buy a Honda?
Historic links between MG Rover and Honda
After 43 years as an MG Rover dealer, when the sad news came that MG Rover was in Administration and that there would be no return in a form that would maintain employment for our team, we set about looking for the most suitable replacement franchise for our customers and our business. A lot of product that MG Rover was selling was derived from Honda, following their collaboration with MG Rover in the late 80’s; we therefore believe that we have chosen the franchise that has the most closely suited product range for our customers.
Quality and engineering excellence
Honda has an unrivalled reputation for engineering excellence and the reliability of their products is absolutely beyond compare. For example, according to What Car magazine, in 2006 Honda was, for the second year in a row, the most reliable manufacturer. Out of the 111 models surveyed the Honda Accord (built in Britain) was the most reliable, and the Honda Civic (also British) was the second most reliable. Sadly, Land Rover finished bottom of the makers' list, a repeat of last year's result.
Financial strength
Given the worldwide over-production of cars, it is believed by some industry analysts that MG Rover will not be the last motor manufacturer to close its doors; we were therefore determined to ensure that our next franchise would be financially strong. Honda is just such a company, with a financial position of which most motor manufacturers can merely dream.
A new Honda is far more expensive than my last MG Rover cost me!
Retail price paid is not the whole story…
Yes Honda’s do generally have a more expensive Recommended Retail Price and if that was the total story in terms of the overall cost of ownership then that may be a problem, however it isn’t; as one consumer press source states…
“
UK consumers could afford a larger or better-equipped car if they calculated vehicle finance based on long-term ownership costs, rather than focusing just on the car's initial purchase price
”
.
Honda cars hold their value better…
Since being appointed a Honda dealer at our Weybridge branch in 2002 we have been surprised and delighted in the way in which Honda cars hold their value. With MG Rover, especially in recent years when the franchise was badly affected by adverse publicity, both new and used values were depressed. Honda is held in high esteem worldwide with strong customer loyalty gained through its wonderful reliability record. The result is that Honda cars enjoy a low level of depreciation, i.e. they hold their value far better.
Honda cars are more reliable…
Honda cars a superb reputation for reliability, with the result that they are consequently far cheaper to maintain than most other cars.
Honda cars have lower whole-life costs…
According to Glass's Guide, few buyers consider the full cost implications of car ownership, ignoring predicted levels of depreciation, insurance and fuel costs before they buy. Glass's suggests that by calculating finance arrangements on the 'whole life' cost of their prospective purchase, most buyers would realise they can actually afford a car with a higher initial purchase price.
Honda Accord vs. Rover 75 Whole Life Costs
See below and example comparison to put some numbers on the facts that we have eluded to:
| Rover 75 | Honda Accord | |
|---|---|---|
| 2.5 V6 Auto Connoisseur | 2.4 Auto Executive | |
| List price at March 2003 | £ 23,040 | £ 21,440 |
| Example discount | (£ 2,000)* | (£ 500)* |
| Price paid | £ 21,040 | £ 20,940 |
| Value at February 2006 | £ 5,625 | £ 9,800 |
| Loss in value over three years | £ 15,415 | £ 11,140 |
| Annual loss in value | £ 5,138 | £ 3,713 |
| Monthly loss in value | £ 428 | £ 309 |
| Monthly difference in cost of depreciation | £ 119 |
How can I afford a Honda when I have an MG Rover to part exchange?
Trident still accepts MG Rover cars for part-exchange against new and used Honda's
One piece of good news is that we are still very happy to take your MG Rover in part-exchange. There is still a very healthy demand for these excellent cars and we are in the best possible position to give you the highest possible valuation against your purchase of a new or used Honda. Beware being offered an apparently high part exchange value against an over-priced or obsolete product from another manufacturer!
Highly competitive Personal Contract Purchase package
The Personal Contract Purchase (PCP) concept is effectively a lease for a new or used vehicle offered for a pre-determined period (normally 24 to 48 months) and with a pre-set mileage (over which mileage charges are incurred). A Minimum Future Value is set by the finance company and must be repaid at the end of the term or alternatively the vehicle may be returned to the finance provider at no further cost. The Minimum Future Value dramatically reduces your monthly payments.
The Minimum Future Values are set by the finance provider for each make and model of car, depending on how well they hold their value; the strength of PCP for Honda is that, because of the way they hold their value, their Minimum Future Values are generally extremely high.
Trident has put together some highly competitive PCP rates. This means that we are able to take your MG Rover and convert it into a finance deposit against your new Honda; with a high Minimum Future Value, we are confident that you will be delighted with the monthly payments.
If you would like to discuss PCP in more detail, please contact our Business Managers:
Next steps
Every situation is different and if you are considering purchasing a Honda to replace your MG or Rover do give our sales team a call. You will be assured of a warm welcome and trained professional advice on what would be your best options.
- Contact Ottershaw Sales on 01932 874411
- Contact Weybridge Sales on 01932 858811
We are a family business established in 1963 and have greatly enjoyed the loyalty of our customers going back many years. We very much hope you will call in and let us show you the latest range of superb Honda cars.