Personal Contract Purchase (PCP) representative example
Based on a cash price of £24,995 with a £2,500 deposit total, borrowing £22,496 at a representative APR of 11.90% and the following:
- 47 monthly payments of:
£430.87
- Final payment:
£9,708.00
- Cash price:
£24,995.00
- Customer deposit:
£2,499.50
- Total deposit:
£2,499.50
- Amount of credit:
£22,495.50
- Total amount payable:
£32,458.39
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
11.28%
- APR:
11.90%