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Representative Example for Hire Purchase (HP): Cash price £12,495.00, Annual Interest Rate (fixed) 5.18% p.a., with a representative 9.9% APR, total amount of credit £12,495.00, deposit of £0.00, an initial payment of £262.49, followed by 58 monthly payments of £262.49 with a final payment of £272.49, total amount payable is £15,759.40
Finance Representative
Product
HP
Cash Price
£16,495.00
Deposit
£0.00
Total Amount of Credit
£16,495.00
Total Amount Payable
£20,797.00
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
5.18%
Duration of Agreement
60
Initial Payment
£346.45
Monthly Payment
£346.45
x
58
Final Payment
£356.45
APR Representative
9.9%