Personal Contract Purchase (PCP) representative example
Based on a cash price of £14,445 with a £1,445 deposit total, borrowing £13,001 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£229.23
- Final payment:
£5,878.25
- Cash price:
£14,445.00
- Customer deposit:
£1,444.50
- Total deposit:
£1,444.50
- Amount of credit:
£13,000.50
- Total amount payable:
£18,096.56
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%