Personal Contract Purchase (PCP) representative example
Based on a cash price of £31,995 with a £3,200 deposit total, borrowing £28,796 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£416.92
- Final payment:
£18,204.42
- Cash price:
£31,995.00
- Customer deposit:
£3,199.50
- Total deposit:
£3,199.50
- Amount of credit:
£28,795.50
- Total amount payable:
£40,999.16
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
9.90%
- APR:
9.90%