Personal Contract Purchase (PCP) representative example
Based on a cash price of £14,795 with a £1,480 deposit total, borrowing £13,316 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£225.99
- Final payment:
£6,522.30
- Cash price:
£14,795.00
- Customer deposit:
£1,479.50
- Total deposit:
£1,479.50
- Amount of credit:
£13,315.50
- Total amount payable:
£18,623.33
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%