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Representative Hire Purchase Example
Cash Price: £9,995. Total Deposit: £999.50. Total Amount of Credit: £8,995.50. First Payment: £212.22, 58 Monthly Payments: £212.22, Final Payment: £212.22. Agreement Duration: 60 Months. Admin Fee: £340.00. Option to Purchase Fee: £10.00. Interest Charges: £3,737.70. Total Amount Payable: £13,732.70. Annual Fixed Interest Rate: 7.25%. Representative APR: 15.6%.