Personal Contract Purchase (PCP) Representative Example
Total cash price £19,995. Borrowing £16,247.90 with a £3,747,10 deposit at a representative APR of 10.8%.
- Fixed rate of interest 10.8%
- 48 monthly payments £247.50
- Total amount payable £25,514.60
- Cost of credit £5,509.60
- Optional final payment £10,125.00
- Duration of agreement 48 months
- Option-to-purchase fee £10