Interest Bearing Loan - Representative APR example
- Cash price: £16,000
- Deposit (if applicable): £6,392
- Total amount of credit: £9,608
- Rate of interest: 14.9% p.a.
- Duration of agreement: 120 months
- Monthly repayments: £149 per month
- Representative APR: 14.9% (variable)
- Charge for credit: £8,272
- Total amount repayable: £24,272
The approval of your application depends on your financial circumstances and borrowing history.
Buy Now Pay Later - Example 6 months
- Cash Price £7500.00
- Deposit £2458.00
- Loan Amount £5042.00
- Repayable by 120 monthly repayments of £99
- First Payment commencing 6 months after installation of goods or services.
- Total charge for Credit £6838.00
- Total Amount Repayable £14,338.00
- Interest Rate 19.9% (per annum variable)
- Representative APR 19.9% (variable)
Buy Now Pay Later - Repaying Early
You can repay some or all of the loan early, but you must tell NPF (Novuna Personal Finance) if you decide to do this, phone: 0344 375 5500 (calls to 0344 numbers are charged at a standard landline rate. Mobile charges may vary. Charges will apply to calls from outside the UK), or write to Novuna Personal Finance, 2 Apex View, Leeds, LS11 9BH If you repay the loan in full within the buy-now, pay-later period, NPF will not charge you interest but you will be charged a settlement fee of £29.00.
If you repay part of the loan within the buy-now, pay-later period, NPF will not charge you interest on the part of the loan you repay. At the end of the buy-now, pay-later period you must continue to make your monthly repayments until you have repaid the loan in full. You may pay off the loan sooner than agreed if you make repayments during the buy-now, pay-later period.
If you repay all or part of the loan after the buy-now, pay-later period you may be entitled to a rebate of some of the interest charged to your account. NPF will reduce the balance of your account by the amount of the rebate. NPF will calculate the rebate in line with the Consumer Credit (Early Settlement) Regulations 2004. If you repay part of the loan early, NPF will reduce the balance of your loan but you must continue to make your monthly repayments. The amount you have to pay NPF each month will stay the same, but you might repay the loan sooner than agreed.