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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
£15,995.00
Deposit
£1,599.00
Total Amount of Credit
£14,396.00
Total Amount Payable
£18,961.00
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
4.11%
Duration of Agreement
60
Initial Payment
£289.20
Monthly Payment
£289.20
x
58
Final Payment
£299.20
APR Representative
7.9%