Personal Contract Purchase (PCP) Representative Example
Vauxhall Grandland, 1.2 Turbo, Design, 5dr
Monthly Payment£367.12
Duration (Months)49
Customer Deposit£3,000.00
Cash Price£27,320.00
Dealer Finance Contribution£500.00
Total Amount of Credit£23,820.00
Optional Final Payment£11,332.00
Purchase Arrangement Fee£0.00
Credit Arrangement Fee£0.00
Total Amount Payable£32,086.00
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.