Hire Purchase (HP) representative example
Based on a cash price of £17,345 with a £1,735 deposit total, borrowing £15,611 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£391.82
- Final payment:
£401.82
- Cash price:
£17,345.00
- Customer deposit:
£1,734.50
- Total deposit:
£1,734.50
- Amount of credit:
£15,610.50
- Total amount payable:
£20,551.86
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
5.12%
- APR:
9.90%