Finance comparison table
The table below compares the three finance products, based on a Volkswagen Golf 1.6 FSI with a £1,000 deposit and an annual mileage of 10,000. The quote highlights the APR, the total amount payable and the monthly payments throughout the term of the agreement.
| |
Personal Contract Purchase (PCP) |
Hire Purchase (HP) |
Lease Purchase (LP) |
| Cash price |
£ 14,000.00 |
£ 14,000.00 |
£ 14,000.00 |
| Less deposit |
£ 1,000.00 |
£ 1,000.00 |
£ 1,000.00 |
| Amount of credit |
£ 13,000.00 |
£ 13,000.00 |
£ 13,000.00 |
| Interest charges |
£ 3,639.36 |
£ 2,210.24 |
£ 3,834.09 |
| Documentation fee |
£ 149.00 |
£ 149.00 |
£ 160.00 |
| Option fee |
£ 50.00 |
£ 50.00 |
£ 75.00 |
| Total charge for credit |
£ 3,838.36 |
£ 2,409.24 |
£ 4,069.09 |
| Excess mileage charge |
£ 2.09 |
N/A |
N/A |
| TOTAL AMOUNT PAYABLE |
£ 17,838.36 |
£ 16,409.24 |
£ 18,069.09 |
| First payment |
£ 384.11 |
£ 465.88 |
£ 406.47 |
| Regular monthly payment |
46 x £235.11 |
46 x £316.88 |
46 x £246.47 |
| Final payment |
£ 5,639.19 |
£ 366.88 |
£ 5,325.00 |
| APR |
10.6% |
9.0% |
11.5% |
The above quote is for illustration purposes only; your repayment will be based on your individual circumstances.