Hire Purchase (HP) representative example
Based on a cash price of £18,645 with a £1,865 deposit total, borrowing £16,781 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£421.19
- Final payment:
£431.19
- Cash price:
£18,645.00
- Customer deposit:
£1,864.50
- Total deposit:
£1,864.50
- Amount of credit:
£16,780.50
- Total amount payable:
£22,091.62
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
5.12%
- APR:
9.90%