Representative Example: You could borrow £10,699 over 60 months with an initial payment of £495.89 (including £199 Admin Fee) followed by 58 monthly payments of £296.89 with a final payment of £495.89 (including optional £199 Option to Purchase Fee). Total amount repayable will be £19,012,40. 26.1% APR, annual interest rate (fixed) 13.3%.
Some customers are introduced to us by business partners of ours, for example a broker or a car dealer.
Like all HP car finance lenders, we pay business partners for the work they do when introducing customers to us.
It is important to note that any commission we pay does not affect the interest rate you pay through your HP car finance agreement, or any associated fees. It is a business cost to us.
Where a commission is paid by us, the amount of commission we are paying is set out in the section of your agreement headed “Commission”. This is because we want to be completely transparent with you, not because your costs are affected.
The Financial Conduct Authority is investigating so-called “discretionary commission arrangements” in the motor finance market. Find out more here.
