Hire Purchase (HP) representative example
Based on a cash price of €37,450 with a €13,108 deposit total, borrowing €24,343 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€483.74
- Final payment:
€558.74
- Cash price:
€37,450.00
- Customer deposit:
€13,107.50
- Total deposit:
€13,107.50
- Amount of credit:
€24,342.50
- Total amount payable:
€42,281.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%