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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
£11,995.00
Deposit
£1,199.00
Total Amount of Credit
£10,796.00
Total Amount Payable
£14,220.00
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
4.1%
Duration of Agreement
60
Initial Payment
£216.85
Monthly Payment
£216.85
x
58
Final Payment
£226.85
APR Representative
7.9%