Hire Purchase (HP) representative example
Based on a cash price of £14,995 with a £1,499 deposit total, borrowing £13,496 at a representative APR of 11.90% and the following:
- 47 monthly payments of:
£350.59
- Final payment:
£360.59
- Cash price:
£14,995.00
- Customer deposit:
£1,499.00
- Total deposit:
£1,499.00
- Amount of credit:
£13,496.00
- Total amount payable:
£18,337.32
- Option to purchase fee:
£10.00
- Documentation fee:
£0.00
- Rate of interest:
11.27%
- APR:
11.90%