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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
£5,990.00
Deposit
£599.00
Total Amount of Credit
£5,391.00
Total Amount Payable
£7,411.20
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
5.16%
Duration of Agreement
60
Initial Payment
£113.37
Monthly Payment
£113.37
x
58
Final Payment
£123.37
APR Representative
9.9%