It is both and way better than any Battery Tender. I have one.
Honda dealerships tell me that Honda demands that they put a battery on an Optimate before Honda will warranty a battery. You can get them for around $50, blue in colour and red in colour from a Honda dealer (same Optimate3). I have found Royal Distributing to be the most expensive place to get one!
Optimate4 is the next newist model for approx. $10 - $20 more.
It will also rejuvenate (desulphate) dead batteries in most cases.
It can be left on indefinitely. Well, until we invent something other than electricity.
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