Hire Purchase (HP) representative example
Based on a cash price of £7,995 with a £799 deposit total, borrowing £7,196 at a representative APR of 11.90% and the following:
- 59 monthly payments of:
£157.41
- Final payment:
£167.41
- Cash price:
£7,995.00
- Customer deposit:
£799.00
- Total deposit:
£799.00
- Amount of credit:
£7,196.00
- Total amount payable:
£10,253.60
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
6.25%
- APR:
11.90%