Hire Purchase (HP) representative example
Based on a cash price of €42,795 with a €14,978 deposit total, borrowing €27,817 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€552.78
- Final payment:
€627.78
- Cash price:
€42,795.00
- Customer deposit:
€14,978.25
- Total deposit:
€14,978.25
- Amount of credit:
€27,816.75
- Total amount payable:
€48,295.05
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%