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Representative Example for Hire Purchase (HP): Cash price £9,990.00, Annual Interest Rate (fixed) 5.17% p.a., with a representative 9.9% APR, total amount of credit £8,991.00, deposit of £999.00, an initial payment of £188.94, followed by 58 monthly payments of £188.94 with a final payment of £198.94, total amount payable is £12,345.40
Finance Representative
Product
HP
Cash Price
£8,199.00
Deposit
£820.00
Total Amount of Credit
£7,379.00
Total Amount Payable
£10,136.00
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
5.17%
Duration of Agreement
60
Initial Payment
£155.10
Monthly Payment
£155.10
x
58
Final Payment
£165.10
APR Representative
9.9%