Hire Purchase (HP) representative example
Based on a cash price of €49,750 with a €17,413 deposit total, borrowing €32,338 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€642.61
- Final payment:
€717.61
- Cash price:
€49,750.00
- Customer deposit:
€17,412.50
- Total deposit:
€17,412.50
- Amount of credit:
€32,337.50
- Total amount payable:
€56,119.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%