Finance at Glyn Hopkin

Glyn Hopkin has over 35 dealerships spread throughout London, Buckinghamshire, Hertfordshire, Suffolk, Bedfordshire and Essex - offering everything you need to Finance the purchase of your next New or Used vehicle.

We understand that everyone has different financial needs, which is why we offer a range of flexible new and used car finance plans to cater for each individual circumstance. These include:



Personal Contract Purchase

What is it?

A Personal Contract Purchase is a flexible form of loan where some of the cost is deferred until the end of the agreement in order to provide you with the benefit of lower monthly payments. The deferred amount is known as the Optional Final Payment and is sometimes also referred to as the Guaranteed Future Value (GFV). At the end of the agreement you have three options:

1. Retain the car: simply pay the Optional Final Payment, and the agreement is complete.

2. Return the car: there’s nothing more to pay if the car is in good condition and within the agreed mileage terms.

3. Renew the car: choose another car, using any excess part exchange value that is above the Optional Final Payment towards your deposit.

How does it work?

• You will agree an estimated annual mileage and this will be used to determine the Optional Final Payment

• You agree on the amount of deposit, and this figure combined with the agreement duration and Optional Final Payment will determine the amount of your monthly payment

• You sign the agreement, pay the deposit and then make the monthly payments

• The interest rate is fixed which means you’ll know exactly how much you will repay throughout the term of the agreement

• At the end of the agreement we’ll write to remind you of the three available options

• You decide which option is best for you. Your dealer may be able to help if you decide to part exchange the car

Features and Benefits

A fixed monthly payment, allowing you to budget with confidence

Potentially lower payments than Purchase Plan agreement

Variety of options available at end of the agreement

You can match the length of your agreement with the time you want to keep the vehicle

You will have the right to terminate the agreement early (under a Voluntary Termination through the Consumer Credit Act 1974)

Important Information

At the end of your agreement you have three options:

1. If you fancy a change you can simply part exchange your car for a different make/model on a new Solutions contract

2. If you love your car you can pay the option to purchase fee and the optional final payment then take full ownership of the vehicle

3. If you don't want to upgrade or keep it, as long as it's been loved, you can simply give it back. (fees may be payable)

It is important that you keep up to date with your monthly repayments, so please contact your lender if you are having any difficulties as the vehicle maybe at risk if you don’t.

You may end your agreement earlier than the full term. However, depending how far you are in to your agreement will affect the final amount left to pay.

If you exceed agreed mileage at the start of your agreement and intend to return the vehicle then excess mileage charges will apply.

Keep the vehicle in good condition as this will affect the value of the vehicle. You may be charged for any damage that goes beyond fair wear and tear.

PCP may not be suitable if you want to settle the agreement early or if want to own the vehicle at the end of the term and may have difficulty in making the balloon payment. Smaller deposits work better with a PCP.



Personal Contract Hire

What is it?

Personal Contract Hire is the choice favoured by most people who would prefer to use a vehicle, rather than own one.

You simply choose a vehicle for an agreed period up to 48 months in exchange for a fixed monthly rental.

There are no depreciation or vehicle disposal worries since you just return the vehicle at the end of the contract.

Fixed price servicing and maintenance options are usually available with most contracts for an additional cost.

Personal Contract Hire is the ultimate in hassle-free motoring.

How does it work?

A Personal Contract Hire agreement can be structured to meet your needs based on the car, estimated annual mileage, the agreement duration and any additional services you require

You may pay an initial rental that can be tailored to suit your requirements (The greater the initial rental, the lower your regular rentals will be).

At the end of the contract you simply return the vehicle

Features and Benefits

You pay a fixed monthly rental for the duration of the contract – subject to tax and Road Fund Licence charges

The contract is flexible to meet the rental period and mileage that suits you

Your monthly rental can also include servicing, maintenance and repair, for an additional cost

Important Information

Ownership of the vehicle will always remain with owner and it is really important that you keep up to date with your monthly repayments. 

Please contact the hire company if you are having any difficulties as the vehicle may be at risk if you don’t.

Contract Hire agreements are not designed to be settled early. If you wish to end your agreement early you can request an early termination quote to cover the cost of the remaining rentals.

If you exceed the agreed mileage set out in your agreement then excess mileage charges will apply. If during your agreement you think you will go over your anticipated mileage then please contact the hire company to discuss the options available.

It is important to keep your vehicle in good condition as you may be charged for any damage that goes beyond fair wear and tear.

PCH is not suitable if you want to own the vehicle at the end of the agreement.



Purchase Plan

What is it?

A simple way of financing that gives you the certainty of a fixed interest rate, and fixed monthly payments throughout the agreement.

The initial deposit and repayment period can be structured to help meet your budget and the length of time you expect to keep the car.

You can trade in your existing car and put this towards the initial deposit, or if you wish, just put down a cash deposit.

How does it work?

• The agreement can be structured to meet your individual requirements based on the car, the agreement duration required, the available deposit and your monthly budget

• After paying the initial deposit you make regular monthly payments to cover the amount borrowed plus any interest and fees

• The interest rate is fixed which means you’ll know exactly how much you will repay throughout the term of the agreement

• Once all of the payments have been paid the car is yours

Features and Benefits

A fixed rate of interest and a fixed monthly payment, allowing you to budget with confidence

A simple loan that allows you to repay the amount payable with equal instalments.

You will have the right to terminate the agreement early (under a Voluntary Termination through the Consumer Credit Act 1974)

Important Information

Ownership of the vehicle will remain with your lender until you have paid both the option to purchase fee and all monthly payments.

It is really important that you keep up to date with your monthly repayments so please contact your lender if you are having any difficulties as the vehicle may be at risk if you don’t.