Personal Contract Purchase (PCP) representative example
Based on a cash price of £12,595 with a £1,260 deposit total, borrowing £11,336 at a representative APR of 11.90% and the following:
- 47 monthly payments of:
£233.03
- Final payment:
£3,948.00
- Cash price:
£12,595.00
- Customer deposit:
£1,259.50
- Total deposit:
£1,259.50
- Amount of credit:
£11,335.50
- Total amount payable:
£16,159.91
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
11.27%
- APR:
11.90%