Personal Contract Purchase (PCP) representative example
Based on a cash price of £31,495 with a £3,150 deposit total, borrowing £28,346 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£485.75
- Final payment:
£13,618.25
- Cash price:
£31,495.00
- Customer deposit:
£3,149.50
- Total deposit:
£3,149.50
- Amount of credit:
£28,345.50
- Total amount payable:
£39,598.00
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%