Personal Contract Purchase (PCP) representative example
Based on a cash price of £13,645 with a £1,365 deposit total, borrowing £12,281 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£213.91
- Final payment:
£5,702.64
- Cash price:
£13,645.00
- Customer deposit:
£1,364.50
- Total deposit:
£1,364.50
- Amount of credit:
£12,280.50
- Total amount payable:
£17,120.91
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%