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Representative Example for Hire Purchase (HP): Cash price £8,990.00, Annual Interest Rate (fixed) 5.17% p.a., with a representative 9.9% APR, total amount of credit £8,091.00, deposit of £899.00, an initial payment of £170.05, followed by 58 monthly payments of £170.05 with a final payment of £180.05, total amount payable is £11,112.00
Finance Representative
Product
HP
Cash Price
£9,990.00
Deposit
£999.00
Total Amount of Credit
£8,991.00
Total Amount Payable
£12,345.40
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
5.17%
Duration of Agreement
60
Initial Payment
£188.94
Monthly Payment
£188.94
x
58
Final Payment
£198.94
APR Representative
9.9%