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Representative Example for Hire Purchase (HP): Cash price £8,495.00, Annual Interest Rate (fixed) 6.27% p.a., with a representative 11.9% APR, total amount of credit £7,646.00, deposit of £849.00, an initial payment of £167.37, followed by 58 monthly payments of £167.37 with a final payment of £167.37, total amount payable is £10,891.20
Finance Representative
Product
HP
Cash Price
£7,645.00
Deposit
£850.00
Total Amount Payable
£9,777.80
Fixed Rate
6.00%
Duration of Agreement
48
Initial Payment
£346.50
Monthly Payment
£197.50
x
46
Final Payment
£346.50
APR Representative
12.4%
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