Hire Purchase (HP) representative example
Based on a cash price of €27,995 with a €9,798 deposit total, borrowing €18,197 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€359.46
- Final payment:
€434.46
- Cash price:
€27,995.00
- Customer deposit:
€9,798.25
- Total deposit:
€9,798.25
- Amount of credit:
€18,196.75
- Total amount payable:
€31,515.85
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%