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Representative Example for Hire Purchase (HP): Cash price £21,495.00, Annual Interest Rate (fixed) 5.72% p.a., with a representative 10.9% APR, total amount of credit £19,346.00, deposit of £2,149.00, an initial payment of £414.65, followed by 58 monthly payments of £414.65 with a final payment of £424.65, total amount payable is £27,038.00
Finance Representative
Product
HP
Cash Price
£25,750.00
Deposit
£5,150.00
Total Amount of Credit
£25,750.00
Total Amount Payable
£38,287.20
Administration Fee
£0.00
Option to Purchase Fee
£10.00
Fixed Rate
5.73%
Duration of Agreement
60
Initial Payment
£552.12
Monthly Payment
£552.12
x
58
Final Payment
£562.12
APR Representative
10.9%
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