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Respresentative finance example
Monthly Payments
£317.24
Customer deposit
£7,500
Cash price
£23,284
Total Amount of Credit
£15,784
Option to Purchase fee
£10
Total amount payable
£26,534.40
Interest rate
7.64% (fixed)
Agreement Duration
60 months
Representative APR
7.9%
Hire Purchase
48 monthly payments
£222.71
Customer deposit
£7,500
Cash Price
£23,284
Total Amount of Credit
£15,784
Optional final payment (GMFV)
£8,997
Total amount payable
£27,187.08
Rate of Interest Per Annum
7.64% (fixed)
Duration of agreement
49 months
Annual Mileage
8,000
Excess Mileage (pence per mile)
4.8p
Representative APR
7.9% APR
Personal Contract Purchase