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Representative Example for Hire Purchase (HP): Cash price £11,995.00, Annual Interest Rate (fixed) 5.18% p.a., with a representative 9.9% APR, total amount of credit £11,995.00, deposit of £0.00, an initial payment of £251.99, followed by 58 monthly payments of £251.99 with a final payment of £261.99, total amount payable is £15,129.40
Finance Representative
Product
HP
Cash Price
£8,795.00
Deposit
£0.00
Total Amount of Credit
£8,795.00
Total Amount Payable
£11,099.20
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
5.17%
Duration of Agreement
60
Initial Payment
£184.82
Monthly Payment
£184.82
x
58
Final Payment
£194.82
APR Representative
9.9%