Hire Purchase (HP) representative example
Based on a cash price of £16,945 with a £1,695 deposit total, borrowing £15,251 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£382.79
- Final payment:
£392.79
- Cash price:
£16,945.00
- Customer deposit:
£1,694.50
- Total deposit:
£1,694.50
- Amount of credit:
£15,250.50
- Total amount payable:
£20,078.42
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
5.12%
- APR:
9.90%