Representative Example for Hire Purchase (HP): Cash price £11,799.00, Annual Interest Rate (fixed) 10.9% p.a., with a representative 10.9% APR, total amount of credit £10,620.00, deposit of £1,179.00, an initial payment of £227.68, followed by 58 monthly payments of £227.68 with a final payment of £228.68, total amount payable is £14,840.80
Finance Representative
Product
HP
Cash Price
£11,499.00
Deposit
£1,149.00
Total Amount of Credit
£10,350.00
Total Amount Payable
£14,463.40
Administration Fee
£0.00
Option to Purchase Fee
£1.00
Fixed Rate
10.9%
Duration of Agreement
60
Initial Payment
£221.89
Monthly Payment
£221.89
x
58
Final Payment
£222.89
APR Representative
10.9%
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