Personal Contract Purchase (PCP) representative example
Based on a cash price of £19,945 with a £1,995 deposit total, borrowing £17,951 at a representative APR of 11.90% and the following:
- 42 monthly payments of:
£370.11
- Final payment:
£7,720.00
- Cash price:
£19,945.00
- Customer deposit:
£1,994.50
- Total deposit:
£1,994.50
- Amount of credit:
£17,950.50
- Total amount payable:
£25,259.12
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
11.28%
- APR:
11.90%