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Representative Example for Hire Purchase (HP): Cash price £16,497.00, Annual Interest Rate (fixed) 5.72% p.a., with a representative 10.9% APR, total amount of credit £14,847.00, deposit of £1,650.00, an initial payment of £318.53, followed by 58 monthly payments of £318.53 with a final payment of £328.53, total amount payable is £20,771.80
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