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
£4,999.00
Deposit
£499.00
Total Amount of Credit
£4,500.00
Total Amount Payable
£6,288.20
Administration Fee
£0.00
Option to Purchase Fee
£1.00
Fixed Rate
10.9%
Duration of Agreement
60
Initial Payment
£96.47
Monthly Payment
£96.47
x
58
Final Payment
£97.47
APR Representative
10.9%