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Personal Contract Purchase (PCP) representative example

Based on a cash price of £14,999 with a £3,000 customer deposit, borrowing £12,000 at a representative APR of 8.9% and the following:
47 monthly payments of
£197.63
Fixed rate of interest per annum
8.53%
Option-to-purchase fee
£10
Optional final payment
£5,809.00
Amount of interest
£6,098.21
Total amount payable
£21,097.21
Annual mileage limit
6,000 miles
Excess mileage charge
4.8p per mile