Personal Contract Purchase (PCP) representative example
Based on a cash price of £12,550 with a £2,000 customer deposit, borrowing £10,550 at a representative APR of 11.4% and the following:
48 monthly payments of
£194.03
Fixed rate of interest per annum
5.93%
Option-to-purchase fee
£10
Optional final payment
£5,005.00
Amount of interest
£3,768.44
Total amount payable
£16,318.44
Annual mileage limit
8,000 miles
Excess mileage charge
4p per mile
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