Hi, my problem is that as there is no interest rate stated anywhere in the agreement only an APR of 10.2%, I dont know how I am expected to calculate how much interest I am paying each year. What figures do you need?

Hell Peter, Thanks for the response. The HP agreement is for my car and in the total charge for credit I have a charge for credit of £3123.90, a finance facilty fee of £125 & a Purchase fee of £95. Does the inclusion of these charges effect the validity of the agrement? Regards LT.

Hi, I am struggling a little with the amount of info on this great site! I am trying to find out if the rate of interest should be shown as a prescribed term on a hire purchase agreement for a car as my agreement only shows an APR and I am in Court with to defend an application to deliver my vehicle to the finance company and I want to say that the agreement is unenforceable because a prescribed term is missing (the interest rate). This subject has probably been discussed before and would be grateful for any assistance.

Hi, I am struggling a little with the amount of info on this great site! I am trying to find out if the rate of interest should be shown as a prescribed term on a hire purchase agreement for a car as my agreement only shows an APR and I am in Court with to defend an application to deliver my vehicle to the finance company and I want to say that the agreement is unenforceable because a prescribed term is missing (the interest rate). This subject has probably been discussed before and would be grateful for any assistance.

Hi, I am new to the site. Can anyone advise me if the prescribed terms specified in Sch 6 in relation to showing a rate of interest refer to Hire Purchase Agreements