Personal Contract Purchase (PCP) representative example
Based on a cash price of £22,645 with a £2,265 deposit total, borrowing £20,381 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£345.62
- Final payment:
£9,999.33
- Cash price:
£22,645.00
- Customer deposit:
£2,264.50
- Total deposit:
£2,264.50
- Amount of credit:
£20,380.50
- Total amount payable:
£28,507.97
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%