Hire Purchase (HP) representative example
Based on a cash price of £28,450 with a £9,957 deposit total, borrowing £18,493 at a representative APR of 9.60% and the following:
- 1 monthly payments of:
£382.99
- First monthly payment:
£457.99
- Final payment:
£457.99
- Cash price:
£28,450.00
- Customer deposit:
£9,957.00
- Total deposit:
£9,957.00
- Amount of credit:
£18,493.00
- Total amount payable:
£33,086.40
- Option to purchase fee:
£75.00
- Documentation fee:
£75.00
- Rate of interest:
8.90%
- APR:
9.60%