Finance Representative Example

Hire Purchase: Payable by 48 payments of £337.91. Payments are based on a duration of agreement of 48 months, a Cash Price OTR of £14,695 with a deposit of £1,469.50 leaving an amount of credit of £13,225.50. The agreement is calculated using a fixed rate of interest of 5.66% per year resulting in Representative 10.9% APR and a total amount payable of £17,690.18.