Finance representative example: Personal Contract Purchase: Payable by 23 payments of £388.26 and a final payment of £8,887.50 Payments are based on a duration of agreement of 24 Months, 6000 miles per annum, a Cash Price OTR of £15,495.00 with a deposit of £0.00 leaving an amount of credit of £15,495.00. The agreement is calculated using a fixed rate of interest of 7.49% per year resulting in Representative 9.9% APR and a total amount payable of £17,817.48. Excess mileage charged at 11.0 pence per mile.
| Cash price | £16,190.00 | Duration of agreement | 48 months |
|---|---|---|---|
| Customer deposit | £4,047.50 | Fixed interest rate | 6.7% |
| APR representative | 12.9% | 48 Monthly interest | £206.31 |
| Total amount of credit | £12,142.50 | Total amount payable | £21,067.61 |