Hire Purchase (HP) representative example
Based on a cash price of €43,650 with a €15,278 deposit total, borrowing €28,373 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€563.82
- Final payment:
€638.82
- Cash price:
€43,650.00
- Customer deposit:
€15,277.50
- Total deposit:
€15,277.50
- Amount of credit:
€28,372.50
- Total amount payable:
€49,256.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%