Hire Purchase (HP) representative example
Based on a cash price of €52,950 with a €18,533 deposit total, borrowing €34,418 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€683.95
- Final payment:
€758.95
- Cash price:
€52,950.00
- Customer deposit:
€18,532.50
- Total deposit:
€18,532.50
- Amount of credit:
€34,417.50
- Total amount payable:
€59,719.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%