Personal Contract Purchase (PCP) representative example
Based on a cash price of £19,495 with a £1,950 deposit total, borrowing £17,546 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£273.82
- Final payment:
£9,962.78
- Cash price:
£19,495.00
- Customer deposit:
£1,949.50
- Total deposit:
£1,949.50
- Amount of credit:
£17,545.50
- Total amount payable:
£24,781.82
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%