Hire Purchase (HP) representative example
Based on a cash price of €34,145 with a €11,951 deposit total, borrowing €22,194 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€441.05
- Final payment:
€516.05
- Cash price:
€34,145.00
- Customer deposit:
€11,950.75
- Total deposit:
€11,950.75
- Amount of credit:
€22,194.25
- Total amount payable:
€38,563.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%