Personal Contract Purchase (PCP) representative example
Based on a cash price of £24,945 with a £2,495 deposit total, borrowing £22,451 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£380.76
- Final payment:
£11,012.50
- Cash price:
£24,945.00
- Customer deposit:
£2,494.50
- Total deposit:
£2,494.50
- Amount of credit:
£22,450.50
- Total amount payable:
£31,402.72
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%