Personal Contract Purchase (PCP) representative example
Based on a cash price of £24,145 with a £2,415 deposit total, borrowing £21,731 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£368.18
- Final payment:
£10,680.27
- Cash price:
£24,145.00
- Customer deposit:
£2,414.50
- Total deposit:
£2,414.50
- Amount of credit:
£21,730.50
- Total amount payable:
£30,399.23
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%