Personal Contract Purchase (PCP) representative example
Based on a cash price of £34,995 with a £3,500 deposit total, borrowing £31,496 at a representative APR of 11.90% and the following:
- 47 monthly payments of:
£614.38
- Final payment:
£12,932.00
- Cash price:
£34,995.00
- Customer deposit:
£3,499.50
- Total deposit:
£3,499.50
- Amount of credit:
£31,495.50
- Total amount payable:
£45,307.36
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
11.29%
- APR:
11.90%