Here’s a representative example of a £15,000 installation, spread over 10 years and 120 payments of only £193.75 and a flat rate interest of 5.5% per annum.
Years | Months | Advance | Flat Rate | Charges | Total Repayable | Monthly repayment |
2 | 24 | £15,000.00 | 5.5% | £1,650.00 | £16,650.00 | £693.75 |
3 | 36 | £15,000.00 | 5.5% | £2,475.00 | £17475.00 | £485.42 |
4 | 48 | £15,000.00 | 5.5% | £3,300.00 | £18300.00 | £381.25 |
5 | 60 | £15,000.00 | 5.5% | £4,125.00 | £19125.00 | £318.75 |
6 | 72 | £15,000.00 | 5.5% | £4,950.00 | £19950.00 | £277.08 |
7 | 84 | £15,000.00 | 5.5% | £5,775.00 | £20775.00 | £247.32 |
8 | 96 | £15,000.00 | 5.5% | £6,600.00 | £21600.00 | £235.00 |
9 | 108 | £15,000.00 | 5.5% | £7,425.00 | £22425.00 | £207.64 |
10 | 120 | £15,000.00 | 5.5% | £8,250.00 | £23250.00 | £193.75 |
Figures are indicative, subject to credit and for non-regulated purposes only* your interest rate could be lower if cost is spread over a shorter term.