This Application follows a “typical” unprotected quote you would expect to get from a motor dealer on a Hire Purchase or Car Loan.
It is not a designed as formal quotation and the actual numbers may vary by a few pence.
It assumes a “Spread Documentation Fee” across the loan agreement, with a final acceptance fee
being added to the last payment
You can adjust the:
- Loan Amount.
- Flat Interest Rate
- Term of Agreement (Months).
- Credit Facility/ Completion Fee (if any are applicable).
The resultant calculation provides Equivalent APR%, Interest Chargeable, Total Amount Payable & Monthly Payment.