Representative Example
Hire Purchase Payable by an initial payment of £269.94 followed by 41 Payments of £259.94 and a final payment of £269.94. Payments are based on a duration of agreement of 42 months, a Cash price OTR of £12,500 with a deposit of £3,500 leaving Amount of credit of £9,000. The agreement calculates using a fixed rate of interest of 6.09% per year and a representative 11.90% APR and total amount payable of £14,437.48.