Personal Contract Purchase (PCP) representative example
Based on a cash price of £20,845 with a £2,085 deposit total, borrowing £18,761 at a representative APR of 11.90% and the following:
- 47 monthly payments of:
£372.65
- Final payment:
£7,306.00
- Cash price:
£20,845.00
- Customer deposit:
£2,084.50
- Total deposit:
£2,084.50
- Amount of credit:
£18,760.50
- Total amount payable:
£26,905.05
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
11.28%
- APR:
11.90%