Personal Contract Purchase (PCP) representative example
Based on a cash price of £21,945 with a £2,195 deposit total, borrowing £19,751 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£329.52
- Final payment:
£9,999.33
- Cash price:
£21,945.00
- Customer deposit:
£2,194.50
- Total deposit:
£2,194.50
- Amount of credit:
£19,750.50
- Total amount payable:
£27,681.27
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%