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
£5,999.00
Deposit
£599.00
Total Amount of Credit
£5,400.00
Total Amount Payable
£7,838.40
Administration Fee
£0.00
Option to Purchase Fee
£1.00
Fixed Rate
12.9%
Duration of Agreement
60
Initial Payment
£120.64
Monthly Payment
£120.64
x
58
Final Payment
£121.64
APR Representative
12.9%
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