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Representative Example for Hire Purchase (HP): Cash price £13,495.00, Annual Interest Rate (fixed) 4.1% p.a., with a representative 7.9% APR, total amount of credit £12,146.00, deposit of £1,349.00, an initial payment of £243.98, followed by 58 monthly payments of £243.98 with a final payment of £253.98, total amount payable is £15,997.80
Finance Representative
Product
HP
Cash Price
£8,295.00
Deposit
£829.00
Total Amount of Credit
£7,466.00
Total Amount Payable
£10,234.40
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
5.17%
Duration of Agreement
60
Initial Payment
£156.59
Monthly Payment
£156.59
x
58
Final Payment
£166.59
APR Representative
9.9%
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