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Representative Example for Hire Purchase (HP): Cash price £8,688.00, Annual Interest Rate (fixed) 5.17% p.a., with a representative 9.9% APR, total amount of credit £7,819.00, deposit of £869.00, an initial payment of £164.34, followed by 58 monthly payments of £164.34 with a final payment of £174.34, total amount payable is £10,739.40
Finance Representative
Product
HP
Cash Price
£16,990.00
Deposit
£1,699.00
Total Amount of Credit
£15,291.00
Total Amount Payable
£20,979.80
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
5.18%
Duration of Agreement
60
Initial Payment
£321.18
Monthly Payment
£321.18
x
58
Final Payment
£331.18
APR Representative
9.9%
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