Personal Contract Purchase (PCP) representative example
Based on a cash price of £18,795 with a £1,880 deposit total, borrowing £16,916 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£275.64
- Final payment:
£8,939.40
- Cash price:
£18,795.00
- Customer deposit:
£1,879.50
- Total deposit:
£1,879.50
- Amount of credit:
£16,915.50
- Total amount payable:
£23,773.98
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%