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
£7,999.00
Deposit
£799.00
Total Amount of Credit
£7,200.00
Total Amount Payable
£10,451.60
Administration Fee
£0.00
Option to Purchase Fee
£1.00
Fixed Rate
12.9%
Duration of Agreement
60
Initial Payment
£160.86
Monthly Payment
£160.86
x
58
Final Payment
£161.86
APR Representative
12.9%