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Representative Example for Hire Purchase (HP): Cash price £14,990.00, Annual Interest Rate (fixed) 5.66% p.a., with a representative 10.9% APR, total amount of credit £14,241.00, deposit of £749.00, an initial payment of £363.87, followed by 46 monthly payments of £363.87 with a final payment of £363.87, total amount payable is £18,214.76
Finance Representative
Product
HP
Cash Price
£9,891.00
Deposit
£1,099.00
Total Amount Payable
£12,562.84
Fixed Rate
6.00%
Duration of Agreement
48
Initial Payment
£404.52
Monthly Payment
£255.52
x
46
Final Payment
£404.52
APR Representative
12.1%