Personal Contract Purchase (PCP) representative example
Based on a cash price of £20,995 with a £2,100 deposit total, borrowing £18,896 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£281.14
- Final payment:
£11,513.96
- Cash price:
£20,995.00
- Customer deposit:
£2,099.50
- Total deposit:
£2,099.50
- Amount of credit:
£18,895.50
- Total amount payable:
£26,827.04
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%