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Question regarding payments on HP APR

betman21 · 2011-12-23 18:50:31

hi there, had a quick look through my agreement form with the Bank of Scotland for my car which I got on Hire Purchase around 3 years ago. I phoned up about this but never really got an answer to be honest. my agreement says the total cash price is £14,200.74 with £5960.00 at 16.6% APR thats 1 payment of £486 and 59…

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iolanthe07 Posts: 5,493 Forumite

25 December 2011 at 12:08PM

You flat rate is indeed about 35%; you need to double APR (approximately) to arrive at the rate you had worked out in your first post.

I used to think that good grammar is important, but now I know that good wine is importanter.
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Question regarding payments on HP APR

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