Representative Finance Example
Hire Purchase. Payable by 58 payments of £115.68 followed by one payment of £115.68. Payments are based on a duration of agreement of 58 months. A cash price of £5,995.00 with a deposit of £600.00 leaving an amount of credit of £5,395.00. The agreement is calculated using a fixed rate of 5.73% per year resulting in Representative 10.90% APR and a total amount payable of £7,540.80.