Representative Example for Hire Purchase (HP): Cash price £12,299.00, Annual Interest Rate (fixed) 12.9% p.a., with a representative 12.9% APR, total amount of credit £11,070.00, deposit of £1,229.00, an initial payment of £247.32, followed by 58 monthly payments of £247.32 with a final payment of £248.32, total amount payable is £16,069.20
Finance Representative
Product
HP
Cash Price
£112,500.00
Deposit
£37,500.00
Total Amount of Credit
£75,000.00
Total Amount Payable
£138,043.60
Administration Fee
£0.00
Option to Purchase Fee
£1.00
Fixed Rate
12.9%
Duration of Agreement
60
Initial Payment
£1675.71
Monthly Payment
£1675.71
x
58
Final Payment
£1676.71
APR Representative
12.9%