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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
£13,995.00
Deposit
£2,799.00
Total Amount Payable
£18,491.50
Fixed Rate
6.00%
Duration of Agreement
60
Initial Payment
£452.23
Monthly Payment
£303.23
x
58
Final Payment
£452.23
APR Representative
11.5%