Personal Contract Purchase (PCP) representative example
Based on a cash price of £15,495 with a £1,550 deposit total, borrowing £13,946 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£235.60
- Final payment:
£6,892.88
- Cash price:
£15,495.00
- Customer deposit:
£1,549.50
- Total deposit:
£1,549.50
- Amount of credit:
£13,945.50
- Total amount payable:
£19,515.58
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%