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Rates from 9.9% APR. Representative APR 16.9%
Representative example: borrowing £7,000 over 4 years with a representative APR of 16.9%, an annual interest rate of 16.9% (Fixed) and a deposit of £0.00 the amount payable would be £201.62 per month, with a total cost of credit of £2677.92 and a total amount payable of £9677.92. This is an example only, lender fees may apply. All finance subject to status.
HP
PCP
Car Finance Calculator
Vehicle Price:
£
0
Initial Payment (Deposit):
£
0
To Pay Over:
48
Months
Assuming your credit score is:
Rates from 9.9% APR. Representative APR 16.9%
Representative example: borrowing £7,000 over 4 years with a representative APR of 16.9%, an annual interest rate of 16.9% (Fixed) and a deposit of £0.00 the amount payable would be £201.62 per month, with a total cost of credit of £2677.92 and a total amount payable of £9677.92. This is an example only, lender fees may apply. All finance subject to status.
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Here’s a quick example: Let’s say you want to buy a car worth £40,000 and to finance it over 48 months with a total of 10,000 miles per annum. Your lender offers you a no-deposit PCP finance deal, so you pay £0 deposit. Your lender estimates the guaranteed minimum final value (GMFV) of the car after 48 months to be £25,000. Your lender then gives you a loan of £40,000 to pay the dealer for the car and asks you to pay them back the difference between the loan and the GMFV which is £15,000 plus interest. You sign a 48-month contract at 6.9% APR. So, your monthly payments will be £502. With the interest, the total amount you end up paying back will be £24,100. At the end of the agreement, you choose to pay the £25,000 GMFV and own the car. Your total outlay including the deposit is £49,100.
