Hire Purchase (HP) representative example
Based on a cash price of £39,645 with a £3,965 deposit total, borrowing £35,681 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£895.88
- Final payment:
£905.88
- Cash price:
£39,645.00
- Customer deposit:
£3,964.50
- Total deposit:
£3,964.50
- Amount of credit:
£35,680.50
- Total amount payable:
£46,976.74
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
5.13%
- APR:
9.90%