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Representative Example for Hire Purchase (HP): Cash price £12,995.00, Annual Interest Rate (fixed) 5.19% p.a., with a representative 9.9% APR, total amount of credit £11,696.00, deposit of £1,299.00, an initial payment of £245.51, followed by 58 monthly payments of £245.51 with a final payment of £245.51, total amount payable is £16,029.60
Finance Representative
Product
HP
Cash Price
£18,495.00
Deposit
£1,849.00
Total Amount of Credit
£16,646.00
Total Amount Payable
£22,813.60
Administration Fee
£0.00
Option to Purchase Fee
£0.00
Fixed Rate
5.19%
Duration of Agreement
60
Initial Payment
£349.41
Monthly Payment
£349.41
x
58
Final Payment
£349.41
APR Representative
9.9%