Commonwealth House

Jenton Road, Leamington Spa
CV31 1XS

01926 498434

Mon - Sat: 9:00 - 17:00

Types Of Finance


A Hire Purchase (HP) finance agreement works by providing a loan to cover the cost of your new used car minus any deposit. You will then repay the loan in affordable monthly payments plus interest, and your agreement will typically last between one and five years.

You may require a deposit but options but  0% deposit options are available – followed by fixed monthly payments for an agreed loan period


PCP car finance stands for personal contract purchase. It is a great option for those that like to change the car that they have often or as a way of keeping the monthly payments lower. 

A PCP is suited for newer cars. 

At the end of your PCP agreement, you have options.

You can either choose to give the car back, buy it by paying the one-off balloon payment, or (if you have equity left in the car) trade it in as a deposit in a new PCP car deal – it’s up to you!

A PCP balloon payment is the term that’s used to describe the final amount you’ll need to pay to buy the car at the end of your agreement.