Hire Purchase (HP) representative example
Based on a cash price of €26,950 with a €9,433 deposit total, borrowing €17,518 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€346.04
- Final payment:
€421.04
- Cash price:
€26,950.00
- Customer deposit:
€9,432.50
- Total deposit:
€9,432.50
- Amount of credit:
€17,517.50
- Total amount payable:
€30,344.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%