Hire Purchase (HP) representative example
Based on a cash price of €34,695 with a €12,143 deposit total, borrowing €22,552 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€448.15
- Final payment:
€523.15
- Cash price:
€34,695.00
- Customer deposit:
€12,143.25
- Total deposit:
€12,143.25
- Amount of credit:
€22,551.75
- Total amount payable:
€39,182.25
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%