Personal Contract Purchase (PCP) Representative Example
Vauxhall Corsa 1.2 Design 5 door
Monthly Payment£245
Duration (Months)49
Customer Deposit£2,487.74
Cash Price£17,940.00
Dealer Finance Contribution£500.00
Total Amount of Credit£15,264.26
Optional Final Payment£6,737.00
Purchase Arrangement Fee£0.00
Credit Arrangement Fee£0.00
Total Amount Payable£20,927.74
Duration (Months)49
Fixed Interest Rate p.a. 6.69%
APR Representative6.90%
Annual Mileage8000.00
Additional Mileage Rate0.09
At the end of the agreement there are 3 options: (i) Renew: Part exchange the vehicle. (ii) Retain: Pay the Optional Final Payment to own the vehicle or (iii) Return the vehicle.