Hire Purchase (HP) representative example
Based on a cash price of €33,950 with a €11,883 deposit total, borrowing €22,068 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€435.92
- Final payment:
€510.92
- Cash price:
€33,950.00
- Customer deposit:
€11,882.50
- Total deposit:
€11,882.50
- Amount of credit:
€22,067.50
- Total amount payable:
€38,187.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%