Hire Purchase (HP) representative example
Based on a cash price of £19,145 with a £1,915 deposit total, borrowing £17,231 at a representative APR of 9.90% and the following:
- 47 monthly payments of:
£432.49
- Final payment:
£442.49
- Cash price:
£19,145.00
- Customer deposit:
£1,914.50
- Total deposit:
£1,914.50
- Amount of credit:
£17,230.50
- Total amount payable:
£22,684.02
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
5.12%
- APR:
9.90%