Personal Contract Purchase (PCP) representative example
Based on a cash price of £16,795 with a £1,680 deposit total, borrowing £15,116 at a representative APR of 12.90% and the following:
- 47 monthly payments of:
£283.19
- Final payment:
£7,150.00
- Cash price:
£16,795.00
- Customer deposit:
£1,679.50
- Total deposit:
£1,679.50
- Amount of credit:
£15,115.50
- Total amount payable:
£22,422.62
- Option to purchase fee:
£0.00
- Documentation fee:
£0.00
- Rate of interest:
12.19%
- APR:
12.90%