Hire Purchase (HP) representative example
Based on a cash price of £16,645 with a £1,665 deposit total, borrowing £14,981 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£376.01
- Final payment:
£386.01
- Cash price:
£16,645.00
- Customer deposit:
£1,664.50
- Total deposit:
£1,664.50
- Amount of credit:
£14,980.50
- Total amount payable:
£19,722.98
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
5.12%
- APR:
9.90%