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Representative Example for Hire Purchase (HP): Cash price £12,995.00, Annual Interest Rate (fixed) 5.18% p.a., with a representative 9.9% APR, total amount of credit £11,696.00, deposit of £1,299.00, an initial payment of £245.38, followed by 58 monthly payments of £245.38 with a final payment of £255.38, total amount payable is £16,031.80
Finance Representative
Product
HP
Cash Price
£10,995.00
Deposit
£1,099.00
Total Amount of Credit
£9,896.00
Total Amount Payable
£13,564.40
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
5.17%
Duration of Agreement
60
Initial Payment
£207.59
Monthly Payment
£207.59
x
58
Final Payment
£217.59
APR Representative
9.9%
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