I have CM Tables of Operating Costs and notice that
26th July 1974, Page 45
26th July 1974
Page 45
Page 45, 26th July 1974
— I have CM Tables of Operating Costs and notice that
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there is an allocation in the standing costs for interest on the money borrowed to buy the vehicle. As lam buying my vehicle on hire purchase, should I include the interest charge on the hire purchase agreement in this factor?
Yes. If you had borrowed money to pay cash for the vehicle then you would have had to meet an interest charge on that money. In the same way, the hire-purchase interest charge really represents interest payable on money borrowed.