Hire Purchase (HP) representative example
Based on a cash price of £36,645 with a £3,665 deposit total, borrowing £32,981 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£828.09
- Final payment:
£838.09
- Cash price:
£36,645.00
- Customer deposit:
£3,664.50
- Total deposit:
£3,664.50
- Amount of credit:
£32,980.50
- Total amount payable:
£43,422.82
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
5.13%
- APR:
9.90%