Hire Purchase (HP) representative example
Based on a cash price of €23,950 with a €8,383 deposit total, borrowing €15,568 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€315.28
- Final payment:
€390.28
- Cash price:
€23,950.00
- Customer deposit:
€8,382.50
- Total deposit:
€8,382.50
- Amount of credit:
€15,567.50
- Total amount payable:
€27,449.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.60%