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Representative Example for Hire Purchase (HP): Cash price £22,450.00, Annual Interest Rate (fixed) 6.26% p.a., with a representative 11.9% APR, total amount of credit £22,450.00, deposit of £0.00, an initial payment of £491.66, followed by 58 monthly payments of £491.66 with a final payment of £501.66, total amount payable is £29,509.60
