Hire Purchase (HP) representative example
Based on a cash price of £17,395 with a £1,740 deposit total, borrowing £15,656 at a representative APR of 12.90% and the following:
- 59 monthly payments of:
£349.79
- Final payment:
£349.79
- Cash price:
£17,395.00
- Customer deposit:
£1,739.50
- Total deposit:
£1,739.50
- Amount of credit:
£15,655.50
- Total amount payable:
£22,726.90
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
12.18%
- APR:
12.90%