Hire Purchase (HP) representative example
Based on a cash price of €20,995 with a €7,348 deposit total, borrowing €13,647 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€269.58
- Final payment:
€344.58
- Cash price:
€20,995.00
- Customer deposit:
€7,348.25
- Total deposit:
€7,348.25
- Amount of credit:
€13,646.75
- Total amount payable:
€23,673.05
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.50%