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Representative Example for Hire Purchase (HP): Cash price £15,695.00, Annual Interest Rate (fixed) 5.18% p.a., with a representative 9.9% APR, total amount of credit £15,695.00, deposit of £0.00, an initial payment of £329.66, followed by 58 monthly payments of £329.66 with a final payment of £339.66, total amount payable is £19,789.60
Finance Representative
Product
HP
Cash Price
£15,895.00
Deposit
£0.00
Total Amount of Credit
£15,895.00
Total Amount Payable
£20,041.60
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
5.18%
Duration of Agreement
60
Initial Payment
£333.86
Monthly Payment
£333.86
x
58
Final Payment
£343.86
APR Representative
9.9%