Example:
This is an interest bearing loan where the first instalment is deferred for 9 months. You will initially only have to
pay a 5% deposit. See the example below, which is based on a purchase worth £1,200.00.
| Cash price (inc. VAT & Del) |
£1,200.00 |
| Deposit (5%) |
£60.00 |
| Amount of loan |
£1,140.00 |
| Interest/Total charge for credit |
£841.98 |
| Service Fee |
£29.00 |
| Total Amount Payable |
£2,041.98 |
Balance Payable
(If not settled within 9 months) |
£1,981.98 |
|
39 monthly repayments of
|
£50.82
|
| APR |
29.8% |
If the Amount of Loan of £1,111.00 is paid before the first instalment due in 9 months time then no interest charges will be incurred. This option incurs an £29 Service Fee which is charged upon receipt of your signed agreement.