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%.
The Admin Fee is a £199 fee that helps cover the costs of setting up your finance agreement. It covers things like preparing your agreement documents, carrying out credit and identity checks, and arranging payment to the broker. This fee is paid at the same time as your first payment, and it isn't refundable. It's separate from your deposit and from any other charges on your agreement.
The Optional Purchase Fee is a £199 fee you only pay if you decide to buy the car at the end of your finance agreement. You don't have to buy the car, that's entirely your choice. If you choose to hand the car back instead, you won't pay this fee. If you decide to keep the car, you'll need to pay the £199 Optional Purchase Fee, usually along with your final payment, to transfer legal ownership of the vehicle to you. This fee covers the cost of finalising your agreement and removing our interest in the vehicle. It's separate from your deposit and from any other charges on your agreement.
The amount shown is an illustration of a typical monthly payment based on the Representative APR. These figures are for guidance only; the actual payments and rate you're offered will depend on your individual circumstances and are not guaranteed. Please see below for details of how your first and final payments may be different.
This page explains more about the arrears-related charges that apply under your Hire Purchase Agreement. These charges already form part of your contract. They will begin to be applied from 1 February 2026.
We have written the answers in clear and simple language to help you understand how everything works.
These fees have always been part of your Hire Purchase Agreement, but we have not applied the £10 reminder letter fee or default interest before now.
As the operational costs involved in managing overdue payments have increased, we will now begin applying these charges in line with your agreement. This helps us continue providing reliable and responsible support to all customers.
No.
Your agreement is not changing, and the terms remain exactly the same as when you signed it.
We are simply beginning to apply existing provisions that have always formed part of your contract.
These fees apply only if your account falls into arrears.
You will not be charged anything extra if your payments are made in full and on time.
Your agreement allows us to charge:
Default interest:
If you think you may struggle to pay, please contact us as early as possible - we are here to help.
Your normal monthly instalment does not change.
However, if your account becomes overdue, default interest or reminder letter fees may be added to your balance.
Your credit file is only affected if your payments are missed or late.
Beginning to apply these charges does not change how or when information is reported to credit reference agencies.
If you are finding things difficult, please contact us as soon as possible.
We will:
Speaking to us early gives you the best chance of avoiding further arrears or charges.
If you believe a charge has been applied in error:
Below is a simple example showing how arrears fees and default interest might work on a typical agreement.
Example (illustrative only):
In this example:
Important:
This is only an example. Your exact circumstances may be different.
If you fall behind with your payments, please contact us so we can discuss your situation and help you find a way forward.
If you have any questions or want to speak to us about your circumstances, please contact us:
We are here to help.
