Finance Representative Example
Personal Contract Purchase: Payable by 47 monthly payments of £135.82 and an optional final payment of £3,340.00. Payments are based on a duration of agreement of 48 months, 10,000 miles per annum, and a Cash Price (OTR) of £9,595.00 with a deposit of £1,919.00, leaving an amount of credit of £7,676.00. The agreement is calculated using a fixed rate of interest of 4.57% per year, resulting in Representative 8.9% APR and a total amount payable of £11,706.54. Included in the final payment shown is an option to purchase fee of £10.00. Excess mileage charged at 2.51 pence per mile.