Based on a cash price of £20,000 with a £4,000 customer deposit, borrowing £16,000 at a representative APR of 9.90% and the following:
48 Monthly payments of
£249.71 |
Fixed rate of interest per annum
9.90% |
Optional final payment
£9,090.00 |
Amount of interest
£4,826.37 |
Total amount payable
£24,836.37 |
Annual mileage limit
5,000 |
Excess mileage charge
8.4p |
At the end of the agreement you have three options: pay the optional final payment (GMFV) and own the vehicle; return the vehicle; or part-exchange the vehicle for a new agreement.