Representative Example
Personal Contract Purchase: Payable by 47 payments of £307.43 and an optional final payment of £7,313.00. Payments are based on a duration of agreement of 49 months, a Cash Price OTR of £16,950.00 with a deposit of £500 leaving an amount of credit of £16,450.00, Annual Mileage of 9,000, Excess Mileage 22 pence per mile. The agreement is calculated using a fixed rate of interest of 6.17% per year resulting in Representative 11.9% APR and a total amount payable of £22,569.16.
Hire Purchase: Payable by 58 payments of £359.97. Payments are based on a duration of agreement of 60 months, a Cash Price OTR of £16,950.00 with a deposit of £500 leaving an amount of credit of £16,450.00, Option to purchase fee of £10. The agreement is calculated using a fixed rate of interest of 11.28% per year resulting in Representative 11.9% APR and a total amount payable of £22,108.60.