Personal Contract Purchase (PCP) representative example
Based on a cash price of £17,945 with a £1,795 deposit total, borrowing £16,151 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£263.67
- Final payment:
£8,507.29
- Cash price:
£17,945.00
- Customer deposit:
£1,794.50
- Total deposit:
£1,794.50
- Amount of credit:
£16,150.50
- Total amount payable:
£22,694.28
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%