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Representative Example for Hire Purchase (HP): Cash price £6,000.00, Annual Interest Rate (fixed) 9.43% p.a., with a representative 9.9% APR, total amount of credit £5700, deposit of £300.00, an initial payment of £119.65, followed by 60 monthly payments of £119.65 with a final payment of £119.65, total amount payable is £7,479.00
Finance Representative
Product
HP
Cash Price
£16,000.00
Deposit
£3,200.00
Total Amount Payable
£21,098.00
Fixed Rate
6.00%
Duration of Agreement
60
Initial Payment
£495.67
Monthly Payment
£346.67
x
58
Final Payment
£495.67
APR Representative
11.4%