0% interest PCP seems off.

[Blanchimont]

It could very well be a case of me being a bit err.. mathematically challenged but It seems these figures don't add up?

(I know it's not a PH-worthy car, but it's what the Mrs wants)



5k deposit

£23835 left to pay.
36 x 283.97 = £10222.92
Opt Final payment of £13896.

£10222.92
+
£13896.00
=
£24118.92, a difference of £283.92.

Have I worked that out wrong, or is it not interest free at all?

[sjg]

35 payments, as the "deposit" is the first one.

[Blanchimont]

anonymous said:

[redacted]

I initially thought that, but it doesn't look to be included, as it's not the OTR price, just list.

sjg said:

35 payments, as the "deposit" is the first one.

I suspect it may be this, as it's to within a few pence. But why would it say 36 payments of X, rather than 35, that being the case?

[thebigmacmoomin]

sjg said:

35 payments, as the "deposit" is the first one.

I didnt realise that was how it worked but you get within 5p by doing that.

[sjg]

It's a 36 month agreement. There are 36 payments made, the first being the £5000 "deposit" and the first "monthly payment" 1 month after that.

[Leo-RS]

sjg said:

It's a 36 month agreement. There are 36 payments made, the first being the £5000 "deposit" and the first "monthly payment" 1 month after that.

Wrong,

35+1
47+1

The +1 is the optional final payment (GFV of the car) that is made at the end of agreement to complete the 36/48 months.

Deposit has nothing to do with it.