Personal Contract Purchase (PCP) representative example
Based on a cash price of £13,945 with a £1,395 deposit total, borrowing £12,551 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£224.52
- Final payment:
£5,490.24
- Cash price:
£13,945.00
- Customer deposit:
£1,394.50
- Total deposit:
£1,394.50
- Amount of credit:
£12,550.50
- Total amount payable:
£17,437.18
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%