Personal Contract Purchase (PCP) representative example
Based on a cash price of £26,945 with a £2,695 deposit total, borrowing £24,251 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£363.76
- Final payment:
£14,609.08
- Cash price:
£26,945.00
- Customer deposit:
£2,694.50
- Total deposit:
£2,694.50
- Amount of credit:
£24,250.50
- Total amount payable:
£34,400.30
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%