PCP Finance representative example

Cash Price £16,000. Deposit £4,200. APR 9.9%. monthly payments £320. Rate of interest 5.14%. Total amount payable £22,878. Term 48 months. Total deposit £4,200. Total amount of credit £15,000. Optional final payment £3,313. Annual mileage 6,000. Excess cost per mile 15 pence.