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Hire Purchase (HP) Representative Example

Example vehicle: Suzuki Swift 1.2 Sz-l. Cash price: £6,290.00. Customer deposit: £1,000.00. Total amount of credit: £5,290.00. Credit rated as: Excellent. 1 payment of £0.00, followed by 59 payments of £121.90 and 1 final payment of £122.90. Fees of £1.00 are included in the payments shown. Interest charges of £2,024.00.Total amount payable: £8,315.00. Flat rate: 7.53% (fixed). Representative APR: 13.90%. Duration of agreement: 61 months.