Hire Purchase (HP) representative example
Based on a cash price of €18,500 with a €6,475 deposit total, borrowing €12,025 at a representative APR of 10.10% and the following:
- 58 monthly payments of:
€251.08
- Final payment:
€326.08
- Cash price:
€18,500.00
- Customer deposit:
€6,475.00
- Total deposit:
€6,475.00
- Amount of credit:
€12,025.00
- Total amount payable:
€21,689.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
9.25%
- APR:
10.10%