Hire Purchase (HP) representative example
Based on a cash price of £39,145 with a £3,915 deposit total, borrowing £35,231 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£884.58
- Final payment:
£894.58
- Cash price:
£39,145.00
- Customer deposit:
£3,914.50
- Total deposit:
£3,914.50
- Amount of credit:
£35,230.50
- Total amount payable:
£46,384.34
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
5.13%
- APR:
9.90%