Hire Purchase (HP) representative example
Based on a cash price of €28,350 with a €9,923 deposit total, borrowing €18,428 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€366.19
- Final payment:
€441.19
- Cash price:
€28,350.00
- Customer deposit:
€9,922.50
- Total deposit:
€9,922.50
- Amount of credit:
€18,427.50
- Total amount payable:
€32,043.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.70%