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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
£15,995.00
Deposit
£1,599.00
Total Amount of Credit
£14,396.00
Total Amount Payable
£19,729.80
Administration Fee
£0.00
Option to Purchase Fee
£0.00
Fixed Rate
5.19%
Duration of Agreement
60
Initial Payment
£302.18
Monthly Payment
£302.18
x
58
Final Payment
£302.18
APR Representative
9.9%