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Typical Representative Finance Example
Product
Hire Purchase
Cash Price
£7,000.00
Total Deposit
£700.00
Total Amount of Credit
£6,300.00
First Payment
£140.75
58 Monthly Payments
£140.75
Final Payment
£141.75
Agreement Duration
60 months
Admin Fee
£0.00
Option to Purchase Fee
£1.00
Interest Charges
£2,146.00
Total Amount Payable
£9,146.00
Annual Fixed Interest Rate
6.81%
Representative APR
12.90%
Product
Hire Purchase
Cash Price
£7,000.00
Total Deposit
£700.00
Total Amount of Credit
£6,300.00
First Payment
£140.75
58 Monthly Payments
£140.75
Final Payment
£141.75
Agreement Duration
60 months
Admin Fee
£0.00
Option to Purchase Fee
£1.00
Interest Charges
£2,146.00
Total Amount Payable
£9,146.00
Annual Fixed Interest Rate
6.81%
Representative APR
12.90%
Product
Hire Purchase
Cash Price
£7,000.00
Total Deposit
£700.00
Total Amount of Credit
£6,300.00
First Payment
£140.75
58 Monthly Payments
£140.75
Final Payment
£141.75
Agreement Duration
60 months
Admin Fee
£0.00
Option to Purchase Fee
£1.00
Interest Charges
£2,146.00
Total Amount Payable
£9,146.00
Annual Fixed Interest Rate
6.81%
Representative APR
12.90%