Representative Example for Hire Purchase (HP): Cash price £27,500.00, Annual Interest Rate (fixed) 4.65% p.a., with a representative 8.9% APR, total amount of credit £26,500.00, deposit of £1,000.00, an initial payment of £544.35, followed by 58 monthly payments of £544.35 with a final payment of £545.35, total amount payable is £33,662.00
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