Personal Contract Purchase (PCP) representative example
Based on a cash price of £21,995 with a £2,200 deposit total, borrowing £19,796 at a representative APR of 12.90% and the following:
- 47 monthly payments of:
£362.24
- Final payment:
£10,256.00
- Cash price:
£21,995.00
- Customer deposit:
£2,199.50
- Total deposit:
£2,199.50
- Amount of credit:
£19,795.50
- Total amount payable:
£29,480.78
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
12.18%
- APR:
12.90%