Personal Contract Purchase (PCP) representative example
Based on a cash price of £25,145 with a £2,515 deposit total, borrowing £22,631 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£385.36
- Final payment:
£11,012.50
- Cash price:
£25,145.00
- Customer deposit:
£2,514.50
- Total deposit:
£2,514.50
- Amount of credit:
£22,630.50
- Total amount payable:
£31,638.92
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%