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What's a representative finance example?

Alex avatar
Written by Alex
Updated over 10 months ago

Calculating Your Finance Total

Calculating the total cost of your financing with us is easy and straightforward. All you need to know are the purchase price, the deposit and the length of the loan.

The Basics

Here's what you'll need to know in order to calculate the total cost of your financing:

Calculations

Based on the parameters listed above, here is a breakdown of the associated costs:

Purchase Price: £1,775
Deposit : £887.50
Loan Term : 120 months (10 yr)
Amount of credit : £887.50
Monthly : £11.48
Total payable : £2,265.10
Interest (fixed) : £490.10
APR : 12.9%

Summary

In summary, for this particular loan, the total payable is £2,265.10 and the fixed interest rate is at 12.9%. If you have any further questions, feel free to contact our customer support team.

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