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Representative Example for Hire Purchase (HP): Cash price £12,995.00, Annual Interest Rate (fixed) 4.1% p.a., with a representative 7.9% APR, total amount of credit £11,696.00, deposit of £1,299.00, an initial payment of £234.94, followed by 58 monthly payments of £234.94 with a final payment of £244.94, total amount payable is £15,405.40
Finance Representative
Product
HP
Cash Price
£14,995.00
Deposit
£1,499.00
Total Amount of Credit
£13,496.00
Total Amount Payable
£18,496.40
Administration Fee
£0.00
Option to Purchase Fee
£0.00
Fixed Rate
5.19%
Duration of Agreement
60
Initial Payment
£283.29
Monthly Payment
£283.29
x
58
Final Payment
£283.29
APR Representative
9.9%