Personal Contract Purchase (PCP) representative example
Based on a cash price of £23,995 with a £2,400 deposit total, borrowing £21,596 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£388.08
- Final payment:
£9,347.54
- Cash price:
£23,995.00
- Customer deposit:
£2,399.50
- Total deposit:
£2,399.50
- Amount of credit:
£21,595.50
- Total amount payable:
£29,986.80
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%