Personal Contract Purchase (PCP) representative example
Based on a cash price of £15,995 with a £1,600 deposit total, borrowing £14,396 at a representative APR of 11.90% and the following:
- 45 monthly payments of:
£293.76
- Final payment:
£5,632.00
- Cash price:
£15,995.00
- Customer deposit:
£1,599.50
- Total deposit:
£1,599.50
- Amount of credit:
£14,395.50
- Total amount payable:
£20,450.70
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
11.28%
- APR:
11.90%